Foreclosure Counseling Assistance Act of 2008 - Directs the Neighborhood Reinvestment Corporation (NRC) to make grants to qualified counseling intermediaries and qualified legal organizations to provide legal assistance to homeowners of owner-occupied homes with mortgages in default, in danger of default, or subject to or at risk of foreclosure.
Requires the NRC to give priority to qualified counseling intermediaries and qualified legal organizations that: (1) provide legal assistance in the 100 metropolitan statistical areas with the highest home foreclosure rates; and (2) have the capacity to begin using the grant funds within 90 days after receipt of the funds.