The Massachusetts Division of Banks recently awarded $1.5 million in grants to fund first-time homeownership education programs and foreclosure prevention counseling centers throughout the commonwealth. A total of 20 awards were made to 10 foreclosure prevention regional centers and 10 consumer counseling organizations.

These awards, referred to as Chapter 206 grants, assist homeowners who are experiencing some type of financial hardship, often caused by either a loss of or reduction in income or a medical issue, as well as prospective homebuyers who are determining if homeownership is right for them. The DOB administers funding of these grants with fees associated with the licensing of mortgage loan originators.

“Consumers should be aware of the rights afforded to them when buying a first home or when facing the risk of losing their home,” Edward A. Palleschi, undersecretary of consumer affairs and business regulation, said in a statement. “These grants help ensure consumers have access to resources that can offer guidance and assistance during critical stages in their lives.”

Some of the regional foreclosure education centers that received awards include Boston’s Department of Neighborhood Development, Way Finders, NeighborWorks Home Ownership Center of Central Massachusetts and the Home Preservation Coalition of the Merrimack Valley. Consumer counseling organizations recipients include the Catholic Social Services of Fall River, ACT Lawrence and the Lawrence Community Works.

“We are proud to fund organizations offering foreclosure counseling and homeownership education for the eleventh consecutive year,” Acting Commissioner of Banks Merrily S. Gerrish said in a statement. “Whether it is a couple purchasing their first home or a family successfully avoiding foreclosure, these grants and the work of funded non-profit organizations make a difference in communities across the commonwealth.”