Business

Mass. awards $4m in grants for foreclosure crisis

Settlement from lawsuit is funds’ source

BOSTON — A total of $4 million in grants has been awarded to 18 organizations around Massachusetts to help address the foreclosure crisis.

The grants will help home­owners and renters, revitalize blighted neighborhoods, and help prevent future financial harm.

State Attorney General Martha Coakley said the grants come from a national settlement involving the nation’s five largest mortgage servicers and their connection with unlawful foreclosures and loan servicing.

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The grants are the latest in a series to fund loan modification assistance, free legal representation to distressed borrowers, and post-foreclosure stabilization assistance to families.

The organizations that are receiving the grants include Cambridge Neighborhood Apartment Housing Services, Catholic Social Services, Housing Assistance Corp., Merrimack Valley Housing Partnership Inc., and Neighborhood Housing Services of the South Shore.