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Connecticut's housing-finance arm will use more than $330,000 in federal and nonprofit money to teach prospective homebuyers their financial ABCs to keep them from one day landing in foreclosure, authorities say.

The Connecticut Housing Finance Authority (CHFA) got a $179,350 grant from the U.S. Department of Housing and Urban Development and a grant of $158,686 from Neighborworks National Foreclosure Mitigation Counseling Program.

Authorities point to recent studies from the Urban Institute show that homeowners who receive counseling were nearly twice as likely to receive a mortgage modification and at least two-thirds more likely to remain current on their mortgage nine months after receiving a modification.

Last year 1,800 first-time homebuyers attended CHFA-sponsored pre-purchase programs, officials said.

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