In 2007, NHS of New Haven received a grant from NeighborWorks® America to establish a “rescue fund” for homeowners who were about to lose their homes through foreclosure.  The funds were used to bring borrowers’ mortgages current and, under certain circumstances, provide these homeowners with a monthly stipend that would assist them with their mortgage payments for a year.  The stipends represented the difference between payments on existing sub-prime mortgages and hypothetical payments on a prime mortgage.  It was expected that some existing lenders would modify their customers’ mortgages, offering loans with a more attractive interest rate.  In other situations, borrowers would be able to refinance their mortgages after a year of perfect credit, thanks to the financial assistance provided by the stipends.  Extensive individual credit counseling was a requirement for participation in the program. This program has recently received new funding from the Neighbor-to-Neighbor LifeLine program sponsored by the United Way of Greater New Haven and the Jewish Federation of Greater New Haven, as well as an extraordinarily generous contribution of $100,000 from Knight Libertas. Based in Greenwich, CT and a subsidiary of Knight Capital Group of Jersey City, New Jersey, Knight Libertas raised $100,000 during the month of May when employees pledged a portion of their earnings to the campaign.