SOURCE: National Foundation for Credit Counseling

National Foundation for Credit Counseling

December 21, 2010 15:34 ET

Even if Foreclosure Seems Inevitable, Free and Trustworthy Help is Available

The National Foundation for Credit Counseling Offers Assistance for Homeowners at Risk of Foreclosure

SILVER SPRING, MD--(Marketwire - December 21, 2010) - According to current housing statistics, one in every 492 U.S. households received a foreclosure notice in November of 2010! Many homeowners with financial problems, especially those at risk of foreclosure, feel overwhelmed and don't know where to turn for help. Unfortunately, they often become targets to a growing number of individuals who claim they can "rescue" people from their mortgage problems. This often leads to high fees, greater debt, and many times, the eventual loss of the home. The National Foundation for Credit Counseling (NFCC) wants homeowners to know that even if foreclosure seems inevitable, help is available, often at little or no cost.

Homeowners who want to avoid foreclosure, or are concerned about their ability to make their mortgage payments, can receive immediate assistance by finding an NFCC-certified housing counselor. NFCC-certified housing counselors can offer the following kinds of housing counseling:

  • Pre-purchase counseling: A housing counselor will sit down with you to work through and evaluate the home buying process, ensure that you understand the mortgage lending process, and the financial commitment you are about to undertake.

  • Foreclosure Prevention: A housing counselor will work with you to examine your financial situation, and offer guidance on how best to avoid default or foreclosure. Working together you will explore different ways to resolve your mortgage situation, and help keep your part of the American Dream.

  • Reverse Mortgage: Our certified housing counselors provide seniors with information regarding HECM (home equity conversion mortgage) also referred to as reverse mortgages. Information is presented in one-on-one sessions so that clients receive the information they need to make an informed decision while also avoiding predatory lending practices.

In order to help offer education and support during the ongoing mortgage crisis, the NFCC has also developed a FREE consumer education DVD Avoiding Foreclosure: Working with a Certified NFCC Housing Counselor. The DVD introduces you to four clients who found themselves in mortgage trouble for different reasons and sought assistance from an NFCC-certified housing counselor.

To order your free copy of the "Avoiding Foreclosure" DVD, or to seek help from a certified NFCC housing counselor visit www.mortgagehelpnow.org.

For more financial tips, advice and updates, visit NFCC on Facebook at: www.facebook.com/NFCCDebtAdvice

And on Twitter at:
www.twitter.com/NFCCDebtAdvice

The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation's largest and longest-serving national nonprofit financial counseling network, with 100 Member Agencies and more than 800 offices in communities throughout the country. The NFCC's mission is to promote the national agenda for financially responsible behavior, and build capacity for its Members to deliver the highest-quality financial education and counseling services. NFCC Member Agencies annually help four million consumers. For free and affordable confidential advice through a reputable NFCC Member, call (800) 388-2227, (en Español (800) 682-9832) or visit www.nfcc.org.

Contact Information

  • Contact:
    Gail Cunningham
    (NFCC) National Foundation for Credit Counseling
    940-691-6322
    gcunningham@nfcc.org