Bank gives grant for housing counselors

Wells Fargo gave $250,000 to the National Foundation for Credit Counseling to pay for foreclosure prevention counseling. It will help the agency's members in 800 U.S. communities.

The grant comes as federal grants for foreclosure counseling have run out. In Atlanta, CredAbility, the largest credit counseling agency, laid off 70 counselors in June after getting word that federal grants would not be renewed. Smaller community agencies also reported laying off foreclosure counselors because of the loss of money.

Housing counseling can increase the likelihood of the borrower bringing a delinquent loan current and being able to remain in their home.