Wells Fargo & Co. has committed $1.5 million in grants to three housing-centered nonprofits to help the agencies expand their foreclosure prevention campaigns, according to NeighborWorks America.

NeighborWorks—a nonprofit aimed at community building—said it will receive $500,000 from Wells Fargo, with the same dollar amount going to the National Foundation for Credit Counseling and the Housing Partnership Network.
“We are excited to receive this donation from Wells Fargo, a long-time supporter of community-based programs offered by the national NeighborWorks network,” said Kenneth Wade, the chief executive officer of NeighborWorks America. “The funds from Wells Fargo provide much needed support for nonprofit housing counselors to continue their work keeping people in their homes. Demand for counseling services is stretching resources and is only expected to increase as more mortgages reset to higher and often unaffordable amounts this year.”
NeighborWorks America says the funding will aid foreclosure counseling services in cities and states where the foreclosure and default rates continue to rise.