State officials say Vermont hasn’t been hit as hard as some parts of the country by the sub-prime mortgage crisis, but that it’s not immune, either.
There were some 994 foreclosures filed in Vermont through the end of October, up 30 percent from the first 10 months of 2006.
Now the Central Vermont Community Action Council has received a $50,000 grant from the U.S. Department of Housing and Urban Development that’s designed to help with the problem.
The money won’t go for direct mortgage subsidies, but will pay for counseling for strapped homeowners to negotiate with lenders and pursue other resources.