The PMI Foundation, the philanthropic arm of the PMI Group, Inc., has awarded a $50,000 grant to the Consumer Credit Counseling Service (CCCS) of San Francisco.

The grant will support continued funding for CCCS of San Francisco’s nationwide mortgage default counseling program, which has helped thousands of homeowners avoid foreclosure and retain their homes.

It will also provide funding for the expansion of the organization’s homebuyer education, in both English and Spanish, to assist homebuyers in preparing for the long-term responsibilities and challenges of homeownership. A portion of the funding will go towards the development of innovative educational vehicles, such as podcasts, videos, and Webinars

“This grant recognizes CCCS of San Francisco’s important work in the area of homeownership preservation as well as the organization’s innovative approach to the field of consumer financial education and the strength of their management team,” said Steve Smith, chairman and CEO of the PMI Group.

According to Rick Harper, CCCS of San Francisco Director of Housing, “CCCS of San Francisco and PMI have a long-standing relationship spanning more than 15 years, devoted to providing financial education to families seeking to achieve for the first time, or keep, their dream of homeownership. This generous grant will enable us to create new programs, such as those utilizing online technologies, so that we might expand the reach of our homeownership programs.”

PMI and CCCS of San Francisco say they share a goal of strengthening financial literacy and thereby better-preparing homebuyers to ultimately support sustainable homeownership and more stable communities.

“Our goal is to ensure borrowers understand the responsibilities and obligations of homeownership and will be more likely to succeed in the long-term as homeowners,” the two organizations said in a joint statement.