Go to Top

Blog Archives

Tag Archives: Avoiding Foreclosure

Why it Matters if a Credit Counseling Agency is NFCC®Certified

As part of Financial Literacy Month, we are doing a series on what it means to be certified by the National Foundation for Credit Counseling, why it matters, and when you should seek credit counseling. The National Foundation for Credit Counseling® (NFCC®) was founding in 1951. It is the nation’s first and largest nonprofit dedicated to improving people’s financial wellbeing. Membership with the NFCC demonstrates a member’s commitment to provide a …Read More

Foreclosure Prevention

By Lauralynn Schueckler Owning a home or condo can be a rewarding experience in the life of many people. While homeownership is most often an emotionally gratifying occurrence for an individual or family it can sometimes be difficult to manage some of the financial burdens associated with owning a home. Since many people use mortgages to purchase a new or older home it’s essential to understand some of the warning …Read More

Should I Buy a House Because the Rates Are So Low?

Home values have plummeted across the country.  Mortgage interest rates continue to hover between 4 and 5%, a historical low.  Both seem to suggest it’s a good time to buy a house.  So, is now the time to pull the trigger on a new mortgage? There are a few things you should consider before you start looking for a house.  First, how comfortable would you be if you were to …Read More

Should I Stay Or Should I Go?

Back in 1981, a band known as The Clash recorded their only number-one hit, “Should I Stay or Should I Go?” Unfortunately, that is an all too familiar refrain among homeowners facing foreclosure. “Getting into the house of your dreams is just the first step. The long-term objective is staying there,” said Gail Cunningham, spokesperson for the NFCC. “However, if making the mortgage payment is a struggle month after month, …Read More

NFCC and United Way Worldwide Join Together to Help Financially Distressed Consumers

The National Foundation for Credit Counseling, Inc. (NFCC) and United Way Worldwide (UWW) each have a commitment to ensuring that individuals and families experiencing financial hardship have access to quality financial education, appropriate financial products, accredited counseling services and financial assistance. The two organizations are pleased to announce that this shared commitment has resulted in the creation of a partnership designed to bring together the strengths of the two respected …Read More

NFCC Launches Revamped and Retooled Online Counseling Request System

Even though the nation’s economic condition is slowly improving, many remain financially distressed and in need of legitimate help to resolve their situation. To better assist these consumers, the National Foundation for Credit Counseling (NFCC) revamped and retooled its online counseling request mechanism. The new system gets to the heart of the matter quickly and easily by asking two simple, yet defining questions: what type of counseling the person is …Read More

HUD Secretary Donovan testifies before Senate Banking Committee about HUD’s FY12 Budget Request

This morning Secretary Donovan testified before the Senate Banking Committee about HUD’s FY12 budget request. In both his testimony and during the Question and Answer portion of the hearing, Secretary Donovan strongly supported restoring funding for the Housing Counseling program. In his oral testimony, the Secretary referenced the cuts to the HUD Counseling Program by calling the cuts particularly painful and calling for restoring the counseling funding. He said that …Read More

The Downside to Mortgage Loan Modifications

Three years ago the term “loan modification” was practically unheard of, especially in the mortgage environment.  Today, however, the term is almost as common as “refinance” and “home equity loan”, and that’s not necessarily a good thing.  This week we’ll explore the loan modification option, as well as its credit downside.  A mortgage loan modification, hereafter “loan mod”, is the process whereby your mortgage lender will either temporarily or permanently …Read More