Tag Archives: Counseling

A Way Out — Not A Bailout, Specialist Howard Dvorkin, Founder of Consolidated Credit Counseling Solutions, Inc. Proposes a Resolution

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Ft. Lauderdale , FL (PRWEB) October 1, 2008

America wants a strategy that does not reward individuals for undesirable behavior and at the identical time keep men and women in their homes, without having obtaining taxpayers pick up the tab. At present almost $ one hundred billion worth of loans are deemed at threat for foreclosure over the next two years as borrowers with adjustable rate mortgages, see prices adjust. Some borrowers with these loans are being informed now of payment alterations and the bulk of these loans will reset in 2010.

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“The housing calamity is at the heart of the problems that our economy is facing correct now,” says Howard Dvorkin, CPA, private finance expert, author, founder of Consolidated Credit Counseling Solutions and former consultant to the Resolution Trust Corporation hat focused on bank operate-outs in the late 1980s. “Hunting at the numbers it appears the average boost in mortgage payments will be 65 percent and payments could jump by as a lot as one hundred % for some people,” he continued.

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Until now, the majority of the mortgage crisis was triggered by subprime loans — these with higher interest rates produced to borrowers with poor credit. Even so, borrowers at threat now on typical had good credit but stretched their budgets with option- ARM loans.

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Howard Dvorkin is proposing a viable solution to aid solve the mortgage and credit crisis in the United States. “Once mortgages have been taken more than by the newly formed government agency, they need to only pay the surrendering bank 60 % of the original loan worth. The 40 percent loss from the original lender would be funneled back into the governmental agency to aid fund any required connected costs. As soon as the loan is transferred, the home owners would then be permitted to enter into a 50 or 60 year mortgage at the prevailing interest price, assuming no adverse amortization happens,” stated Dvorkin.

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“The important is to get the month-to-month mortgage payment quantity similar to when the customer 1st took the loan out, just before the ARM reset. Extending principal payments over 50 or 60 years, would allow the customer to be responsible for the principal quantity of the original mortgage. This plan would demand some tax law modifications but it would maintain American’s in their houses,” continued Dvorkin.

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Dvorkin’s proposed program will punish all parties involved. Punishing lenders for giving loans to individuals who could not afford them and these customers who knew they would not be capable to afford the mortgage long-term. Nationwide, there have been two million filings this year and RealtyTrac, a firm that monitors foreclosure activity, projects 2.five million added houses will enter foreclosure over the next year.

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Note to Editor: &#13

Howard Dvorkin accessible for interviews &#13

Get in touch with: April Lewis -Parks 954-377-9344 /Alewis@ConsolidatedCredit.org&#13

AVAILABILITY: Florida , nationwide by arrangement and by way of phone

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Connected Loan Modification Services Press Releases

Springboard Provides Hope to Troubled Homeowners: Linked Press Reports on Foreclosure Prevention Counseling at Springboard

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Riverside, CA (PRWEB) March 7, 2009

Springboard Nonprofit Consumer Credit Management was the concentrate of a current story by John Mone of the Related Press, the story featuring foreclosure prevention counseling came on the heels of the Obama Administration and U.S. Department of Treasury’s Creating House Inexpensive system that offers assistance to 7 to 9 million property owners creating a great-faith work to make their mortgage payments.

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In the AP story Mone reported, “When it comes to foreclosure numbers, Riverside County California is pretty a lot in the leading ten in the United States. This is where the sub-prime mortgage meltdown struck deep.”

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With the U.S. unemployment price reaching its highest level in 25 years, Springboard is reporting a record number of counseling sessions in the regions of foreclosure prevention and credit and debt counseling. Throughout the nation, Springboard gives assistance with housing counseling, income and credit management via educational applications and complete counseling in both English and Spanish. Springboard is a HUD approved housing agency, a member of the National Foundation for Credit Counseling, and agency companion in the nationwide Homeownership Preservation Foundation’s Hope Hotline. “We encourage distressed home owners to attain out to their lenders and HUD approved housing counseling agencies like Springboard,” mentioned Melinda Opperman, vice president of neighborhood outreach at the Springboard housing and credit counseling agency. “We’re aware of situations on a everyday basis exactly where troubled home owners have been taken advantage of by paying upfront charges to organizations promising achievement for loan modifications and other workouts only to later understand no operate was performed and a lot damage has been completed. Negotiating loan workouts, options and solutions is anything lenders and non-profit housing counseling agencies offer you homeowners for cost-free,” mentioned Opperman.

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Springboard offers the following advice for customers facing foreclosure or other financial hardship.

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Open all mail promptly. Do not ignore the communication from your creditors or lenders.

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If you are having troubles producing your payments, call or write to your lender’s Loss Mitigation Division without having delay.

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Be prepared to explain your scenario and offer your lender with your monetary details.

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Do not pay funds upfront for a loan modification.

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Be wary of foreclosure rescue scam artists that claim to be helping you save your residence.

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Make contact with a HUD authorized housing counseling agency.

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In 2008, Springboard counseled almost 20,000 troubled home owners in California, and a lot more than 50,000 nationwide.

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About Springboard Nonprofit Consumer Credit Management&#13

SPRINGBOARD

Consolidated Credit Launches New HUD Housing Counseling Solutions

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Fort Lauderdale, FL (Vocus) June 17, 2009

Consolidated Credit Counseling Services, Inc. is pleased to announce that they have received approval to provide housing and foreclosure avoidance counseling as a Housing and Urban Improvement (HUD) housing counseling agency.

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Consolidated Credit was approached by neighborhood banks for aid with the housing crises and as a call to action they took the necessary methods to turn out to be HUD-approved. Foreclosures and unemployment in South Florida are widespread and households are in need of help. Consolidated Credit is reporting a record number of customers in search of help in the areas of foreclosure prevention as effectively as credit and debt counseling.

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As a HUD housing counseling agency, Consolidated Credit will be joining the struggle to support the countless numbers of consumers who have been devastated by the fallout from the mortgage crisis as nicely as aid very first-time home purchasers make wise choices based on sound economic principles.

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As element of President Obama’s extensive Homeowner Affordability and Stability Plan (HASP), customers may be eligible for a specific Generating Residence Cost-effective loan modification or refinance, to lessen month-to-month payments and support Americans preserve their home. Foreclosure prevention counseling solutions are offered by nonprofit housing counseling agencies functioning in partnership with the Federal Government.

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As a HUD housing counseling agency, Consolidated Credit will give Reverse Equity Mortgage Counseling, which is designed to help mostly senior homeowners to be capable to devote the equity in their residence whilst still continuing to reside at their residence. They will also provide Post-Buy Counseling to support struggling homeowners. This is a crucial part of the homebuyer education procedure due to the fact it supports successful lengthy-term homeownership.

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Consolidated Credit will also offer Predatory Lending Education, Monetary Management/Budgeting, and Residence Purchaser Education Workshops. These workshops are created to offer basic monetary literacy expertise and other information property owners and prospective homebuyers can use to make wise financial decisions concerning their properties, to get the best achievable rates to which their credit entitles them, and to support them keep away from unscrupulous lenders and unregulated financial institutions.

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Throughout the nation, Consolidated Credit gives assistance with funds and credit management via economic education and comprehensive debt counseling in each English and Spanish now they are committed to helping folks in need with the availability of housing counseling as nicely.

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ABOUT: Consolidated Credit Counseling Services, Inc http://www.consolidatedcredit.org/ is a 15-year old nonprofit organization that assists households throughout the United States in ending economic hardships by way of monetary education, credit counseling and debt management applications. Shoppers can get in touch with 1-800-728-3632 to speak with a credit counselor.

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Speak to&#13

1-800-728-3632&#13

alewis(at)consolidatedcredit.org

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Related Loan Modification Services Press Releases

Accountable Debt Relief Announces Pathbreaking Housing Counseling and Mortgage Modification Assessment Technique

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Rochester, New York (PRWEB) October 31, 2011

Dr. Robert D. Manning, distinguished consumer finance scholar (author of CREDIT CARD NATION and hyperlink to http://www.creditcardnation.com) and founder of the nonprofit Accountable Debt Relief (RDR) Institute, announced the release of his companys pathbreaking, on the web mortgage underwriting, house refinancing, and housing counseling assessment technique final week in Salt Lake City, Utah. Throughout his luncheon address at the Utah Housing Coalition conference, Dr. Manning, 1 of the earliest forecasters of the Customer-Led Recession and collapse of the US housing marketplace, reported on the current state of the U.S. economy, the perilous situation of the housing market, and the failure of the banking market to adjust to the realities of current risk-management requirements.

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According to Dr. Manning, public policy-makers created the fatal mistake of assuming that the 2007 recession was propelled by a standard company-cycle that would final 3 or four years rather than a consumer debt bubble that would demand drastic household debt relief by means of loan forgiveness and low-interest loans. The problem is that economic institutions have not adjusted to the new reality of their faulty underwriting strategies. Individually-primarily based FICO scores and associated retrospective financial measures are much less trustworthy assessments of customer economic capability in the existing atmosphere of consumer credit scarcity. As a outcome, banks are reluctant to supply loans to creditworthy households that have encountered economic difficulty throughout this turbulent financial period.

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Throughout his presentation, Dr. Manning asserted that a new paradigm for assessing household credit capability should be explored if the nation is to keep away from a deeper and much more prolonged recession. Otherwise, fewer mortgage and loan applications will be authorized which will reinforce falling housing prices and lead to far more households abandoning their upside-down mortgages. Dr. Manning then explained the key attributes of the RDR net money-flow algorithm/software program that calculates net, soon after-tax household revenue based on such aspects as federal, state and local taxes, household structure, tax filing status, regional cost of living, property ownership status, federal authorized deductions such as retirement and charitable contributions, and court-mandated payments such as youngster help and garnishments.

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This proprietary algorithm is the basis of a webservices-primarily based data management program whereby lenders, counselors, and person buyers can conduct a preliminary, on-line assessment of the affordability of a mortgage modification, property loan, and even an auto loan.

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Following the presentation, Dr. Manning demonstrated the ease and speed in making use of the RDR online financial assessment systembeginning with a price range assessment based on the net cash-flow computer software. The assessments can be calculated for people and for households. The unique Credit Capacity score gives a swift assessment of the financial situation of a household. Similarly, the on the web mortgage underwriting, property loan modification, and auto loan assessments estimates the size of the loan that is inexpensive, whether the borrower must qualify for a prime or subprime loan, and the total expense of the loan. Moreover, RDR delivers a distinctive tenant screening score that estimates whether or not a person that has knowledge economic distress such as foreclosure or bankruptcy can afford a specific rent with out getting rejected due to a low FICO score.

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Dr. Manning concluded that, in the short-term, the pace of the US financial recovery will depend on the stabilization of the housing marketplace. Without having new risk management tools to a guide recently foreclosed and/or bankrupt households into the rental housing market place and far more precise underwriting tools that are not dependent on flawed FICO scores, the US will face a decade of declining economic prosperity and widening social inequality.

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For a lot more about RDR, its pathbreaking net money-flow tools, and Dr. Manning, please contact us at 585-563-7675.

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A New Horizon Credit Counseling Reports Joint Activity Force Developed to Battle Mortgage Modification Scams

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Fort Lauderdale, FL (PRWEB) December 12, 2011

On December 1, 2011 a new task force was developed to combat scams tageting homeowners looking for to apply for the Residence Reasonably priced Modification System (HAMP). The activity force is a combined effort of the Particular Inspector Basic for the Troubled Asset Relief System (SIGTARP), the Customer Financial Protection Bureau (CFPB), and the U.S. Department of the Treasury. Their mission is to investigate and shut down these scams while offering educational programs. A New Horizon Credit Counseling Solutions is a nonprofit debt consolidation organization that has been assisting buyers since 1978.

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The aim of our customer fraud alert is to empower property owners with the expertise of how to recognize and steer clear of these scams These scams prey upon the most vulnerable property owners as they desperately hold out hope of saving their residences, said Christy Romero, Deputy Special Inspector General for SIGTARP.

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Treasury is totally committed to functioning with SIGTARP and the CFPB to shut down mortgage scams that falsely represent themselves as government applications, said Treasury Assistant Secretary for Monetary Stability Tim Massad. This new initiative builds on the perform we have completed with SIGTARP to date and other collaborative efforts throughout the federal government to educate property owners about scams so they can shield themselves and their houses.

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Stephen Marcus, President of A New Horizon Credit Counseling mentioned, The consumer should be able recognize organizations charging a fee for false promises of lowering the homeowners mortgage debt or payments. A New Horizon routinely gives credit counseling and helps consumers manage their debt so that it can be totally paid off. They advise that if you are thinking about modifying your mortgage you can apply for free to the federal House Reasonably priced Modification Program (HAMP) on your own.

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Marcus added, The only party that can grant a loan modification is your mortgage servicer, so dont rely upon promises of third parties, they can’t guarantee or pre-approve outcomes, and never spend an advance fee. In most instances an advance charge is illegal.

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Lastly the Treasury cautions that paying a third party to help with your HAMP application does not increase your likelihood of getting a mortgage modification.

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For a lot more info about A New Horizon Credit Counseling programs, contact 1-800-556-1548. They can also be located on the internet at http://www.anewhorizon.org, or reached through e-mail at slieberman@anewhorizon.org

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Nonprofit Credit Counseling Agency Named Authorized Adopter of National Industry Standards for Homeownership Education Counseling

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Lighthouse Point, FL (PRWEB) January 25, 2012

Debt Management Credit Counseling Corp, a nonprofit charitable organization (DMCC), announced nowadays that it has been approved as an adopter of the National Market Standards for Homeownership Education and Counseling (NISHEC). As the economic downturn persists, a lot of homeowners are dealing with lowered incomes and declining house values. They struggle to steer clear of foreclosure, but navigating the system can be very difficult. Housing counseling agencies can aid, but its difficult for customers to know which organizations they can trust. The NISHEC can assist make that choice less difficult. NISHEC recognizes DMCC as an authorized adopter of these standards and holds DMCC to a high normal of excellence, ensuring that customers are provided the most consistent and crucial info, advice and guidance.

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Foreclosure intervention counselors have to have precise, up-to-date knowledge of the mortgage landscape, stated Jeremy Montanti, Quality Manager at DMCC. We have hugely educated nonprofit counselors who perform one particular-on-one particular with homeowners in the community to aid communicate with their lenders and decide the suitable answer.

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The National Market Standards had been created by the Advisory Council for the National Sector Requirements for Homeownership Education and Counseling. The Advisory Council is comprised of major housing market representatives such as HUD, working collectively to offer a way for counseling organizations to demonstrate accountability and commitment an method identified as Homeownership Completed Right. According to a 2010 study by the Urban Institute, the odds of curing a foreclosure, and potentially avoiding losing a home, are 1.7 occasions higher for a homeowner who performs with a counselor who adheres to the National Industry Requirements than for a homeowner who doesnt receive such counseling.

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DMCC provides foreclosure intervention for customers suffering from monetary hardship and possessing a challenging time repaying their property mortgage. This program has been developed to recognize obtainable solutions for customers to steer clear of foreclosure which meet their individual objectives, and help buyers with getting a loan modification if it is a advised resolution. Consumers who have already received a notice with Date of Sale are advised to seek legal counsel for assistance. DMCC also provides debt management plans to customers needing help with the repayment of their credit card debt.

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To understand more about the National Business Requirements for Homeownership Education and Counseling, visit http://www.homeownershipstandards.com.

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About Debt Management Credit Counseling Corp.

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DMCC is a nonprofit 501(c)(three) public charity committed to educating customers on financial concerns and providing private assistance to consumers overextended with debt. Education is provided free of charge to consumers via seminars, workshops, a proprietary financial literacy system, and a vast array of on the web and printed components. Cost-free individual counseling is provided to shoppers to identify the best possibilities for the repayment of their debt. Shoppers interested in speaking with a DMCC certified credit counselor could get in touch with (866) 618-3328 or request assist at dmcconline.org. DMCC is a HUD Authorized Housing Counseling Agency, is approved by the U.S. Trustee to provide bankruptcy counseling and education, and has an A+ rating with the Much better Organization Bureau.

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Discover Far more Loan Modification Services Press Releases

Wells Fargo Bank Commits up to $250,000 for ClearPoint Credit Counseling Solutions to Assist Struggling Property owners Facing Financial Challenges

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Los Angeles, CA (PRWEB) February 02, 2012

ClearPoint Credit Counseling Options (CCCS) announced these days that Wells Fargo, Americas largest mortgage lender, is committing up to $ 250,000 to ClearPoint to give in-particular person and phone counseling and assistance to its buyers including applying for mortgage modifications.

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Preservation of property ownership is the focus of this collaboration amongst ClearPoint and Wells Fargo , stated Chris Honenberger, ClearPoint president and CEO. By way of this partnership, ClearPoint will be capable to supply customized counseling to support bring relief to homeowners in distress nationwide.

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With the collaborative effort, Wells Fargo has approved ClearPoint to help extend property preservation services to Wells Fargo mortgage clients by means of comprehensive credit counseling and mortgage payment assistance. The system supplies a Internet-enabled portal for counselors to transmit the essential documents necessary to successfully offer help to buyers with mortgage modifications.

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Wells Fargo believes in the critical role HUD-approved housing counselors like ClearPoint have in assisting homeowners facing mortgage payment challenges, stated Joe Ohayon, SVP and Wells Fargo Residence Mortgage Servicing Neighborhood and Client Relations. This collaborative effort is an additional instance of Wells Fargos commitment to help clients keep in their houses.

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As part of the effort, ClearPoint employees or volunteer professional will give extensive mortgage counseling, loss mitigation help, and assist with refinancing. Wells Fargo mortgage customers facing foreclosure are encouraged to apply for assistance by calling a HUD-authorized counselor at 877-877-1995 or visiting http://www.clearpointccs.org.

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Wells Fargo buyers can also receive help straight from Wells Fargo House Mortgage by calling Servicing at 800-678-7986, on the Web at http://www.wellsfargo.com/homeassist/, and at Wells Fargo Residence Preservation Workshops (a schedule is posted at http://www.wfhmevents.com/leadingthewayhome). From January 2009 by means of November 2011, Wells Fargo has conducted 724,710 active trial or completed mortgage modifications in its servicing portfolio. According to Wells Fargo executives, more than the last 12 months, much less than two percent of the owner-occupied mortgage loans in the companys servicing portfolio resulted in a foreclosure sale.

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Associated Loan Modification Services Press Releases

Non Profit Charity Gives Totally free Housing Counseling at Producing Home Reasonably priced Program Occasion in Miami

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Lighthouse Point, FL (PRWEB) March 01, 2012

Debt Management Credit Counseling Corp. (dmcconline.org), a nonprofit charitable organization (DMCC), announced today they attended the Making Home Affordable event that took place in Miami, FL just over a week ago on February 22, 2012. Thousands of homeowners who are struggling to pay their mortgage were able to meet with their mortgage company and also speak to a HUD approved housing counseling agencies to go over their options. DMCC was able to take part in this event by providing volunteers and housing counselors.

DMCC currently offers a foreclosure prevention program free to consumers suffering from financial hardship and having a difficult time making their mortgage payments. DMCC counselors have been able to identify available solutions for borrowers to avoid foreclosure and assist homeowners with obtaining loan modifications if that is the recommended solution. If you are a homeowner who is facing foreclosure it is imperative to receive the right information and make an educated decision. This is why we assess each individuals personal situation and goals, said Jeremy Montanti, housing counselor and quality manager for DMCC. We are happy to participate in this event and provide valuable counseling to so many homeowners here today.

Approximately 100,000 homeowners across the state of Florida have benefited from the Making Home Affordable Program. Consumers who missed the opportunity to attend the MHA event in Miami, can contact DMCC to speak to a housing counselor and receive the same solid advice. Housing counselors can be reached by calling (866) 618-3328 or emailing contact(at)dmcconline(dot)org. DMCC provides this service free of charge, along with personal budget counseling and other financial education, as part of their charitable mission. Debt management plans to assist consumers with the repayment of credit card accounts are also available. Lower credit card payments obtainable through debt management plans, combined with budgeting, is an option that may provide sufficient relief for homeowners to enable them to afford their monthly mortgage payment.

About Debt Management Credit Counseling Corp.

DMCC is a nonprofit 501(c)(3) public charity committed to educating consumers on financial issues and providing personal assistance to consumers overextended with debt. Education is provided free of charge to consumers via seminars, workshops, a proprietary financial literacy program, and a vast array of online and printed materials. Free personal counseling is provided to consumers to identify the best options for the repayment of their debt. Consumers interested in speaking with a DMCC certified credit counselor may call (866) 618-3328 or request help by emailing their office. DMCC is a HUD Approved Housing Counseling Agency, is approved by the U.S. Trustee to provide bankruptcy counseling and education, and has an A+ rating with the Better Business Bureau.

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Springboard Applauds Government Study on Importance of Housing Counseling

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Riverside, CA (PRWEB) June 08, 2012

Springboard Nonprofit Customer Credit Management, Inc., (Springboard) commented nowadays on study findings released by the U.S. Department of Housing and Urban Improvement (HUD) that validate the worth and effectiveness of housing counseling at facilitating sustainable homeownership.

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By way of counseling, HUD discovered property owners are far more most likely to remain in their residences, even when facing foreclosure. The HUD study reports on two sorts of counseling: pre-buy and foreclosure prevention. In each research, HUD discovered housing counseling drastically improved the likelihood homeowners would stay in their residences.

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The 18-month study examined the influence of HUD-authorized housing counseling for households taking into consideration the buy of a 1st time home and for these facing foreclosure. According to independent research, housing counseling substantially improved the likelihood of continued homeownership for both study groups. Practically seventy % of those counseled for foreclosure prevention obtained a mortgage remedy, with a lot more than half subsequently becoming present on their mortgages. In addition, thirty-5 % of these getting pre-obtain counseling became homeowners, with only one homeowner eventually falling behind on their mortgage payments, a drastically improved outcome over prevailing delinquency prices inside the general population.

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Another important discovering released by HUD revealed the value of the expansion of telephone counseling throughout the foreclosures crisis as an critical option resource for folks and communities.

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Established in 1974, Springboard is a HUD-authorized 501 (c)(three) nonprofit community service organization that functions to strengthen communities and boost the lives of consumers by offering solutions that promote financial literacy, stable homeownership and a healthier economy. Springboard is the biggest HUD-approved housing counseling agency on the West Coast.

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In addition, Springboard is a network counseling companion of The Homeownership Preservation Foundation (HPF), an independent national nonprofit that has received much more than six million telephone calls from distressed home owners looking for to keep away from foreclosure. By means of its affiliation with HPF, Springboards housing counselors give financial education and details to distressed home owners calling HPF’s Property owners HOPE Hotline at 888-995-HOPE. Independent investigation underscores the efficacy of telephone-based counseling for homeowners in require. With the housing crisis still amongst us, property owners require to have selections on where they can turn for assist and the findings released by HUD confirmed that those counseled via the phone had optimistic housing outcomes in terms of loan modification, principle reduction, and general likelihood to remain in their property and be current on their loans.

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These findings are optimistic and confirm the worth of counseling. The results of these research reinforce the need to have for housing counseling, said Todd Emerson, Springboard President and CEO. As a HUD-approved housing counseling agency, we give a valuable service to homeowners that operates and is confirmed to tremendously boost the likelihood that individuals and families can remain in their properties, said Emerson.

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The study tracked the characteristics, experiences, and outcomes of 824 property owners who sought foreclosure mitigation counseling and 573 clientele who sought pre-purchase counseling. The final reports from the study were published in May and are offered on HUDs website: Pre-Acquire Counseling Outcome Study and Foreclosure Counseling Outcome Study.

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This study supplies info on who accesses counseling solutions when facing challenges in paying their mortgage loan, what solutions these clients obtain, and identifies the outcomes the customers skilled in the following 18 months. Please note that this study was designed to figure out the correlation among the data, but was not created to predict causation among the information. The reports findings incorporate:

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Nonprofit Credit Counseling Agency Announces Free Help Offered for South Florida Home owners to Steer clear of Foreclosure

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Lighthouse Point, FL (PRWEB) August 20, 2012

Debt Management Credit Counseling Corp (http://www.dmcconline.org), a nonprofit organization (DMCC), announced today that it still has grant funds accessible from the U.S. Division of Housing and Urban Development (HUD) to provide totally free foreclosure prevention assistance to property owners in Broward County and Palm Beach County, Florida. DMCC was awarded a grant in March as portion of much more than $ 42 million in housing counseling grants awarded by HUD to 468 national, regional and neighborhood organizations. Home owners interested in taking advantage of this totally free service need to make contact with DMCC instantly while funding and resources remain obtainable.

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DMCC housing counselors will overview all possibilities to steer clear of foreclosure with the homeowner and recommend the choice that greatest meets their economic scenario. If obtaining a loan modification is a advised solution that the homeowner desires, DMCC will aid the homeowner prepare and submit the necessary documents to their lender. “Our purpose is to determine all accessible choices for the homeowner to avoid foreclosure, and help them in implementing the selection they select”, said Jeremy Montanti, DMCC Housing Director.

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DMCC gives this service totally free of charge to property owners, along with private budget counseling and other economic education. Debt management plans to help consumers with the repayment of credit card accounts are also obtainable. Reduce credit card payments obtainable via debt management plans, combined with budgeting, is an choice that could provide sufficient relief for home owners to enable them to afford their month-to-month mortgage payment.

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In order for homeowners to maximize the alternatives available to them to avoid foreclosure, it is imperative that they seek assistance as quickly as they know they will not be able to meet their mortgage payments. Once a mortgage lender commences foreclosure proceedings, numerous possibilities cease to be obtainable. DMCC cautions that property owners who have already received a foreclosure notice from their lender with a Date of Sale are advisable to seek legal counsel for help. Homeowners wishing to take benefit of this free of charge service should contact DMCC at 866-618-3328, Monday via Thursday 9:00am to 5:00pm ET or Friday 9:00am to 3:00pm ET, and ask to speak with a housing counselor.

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About Debt Management Credit Counseling Corp.

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DMCC is a 501c(three) nonprofit organization committed to educating buyers on economic issues and offering private help to buyers overextended with debt. Education is offered totally free of charge to customers via seminars, workshops, a proprietary economic literacy plan, and a vast array of on-line and printed supplies. Free of charge individual counseling is provided to customers to identify the very best alternatives for the repayment of their debt. DMCC is a HUD Authorized Housing Counseling Agency, is approved by the U.S. Trustee to offer bankruptcy counseling and education, and has an A+ rating with the Much better Enterprise Bureau.

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