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Tag Archives: Housing Counseling

Positive Impact of Nonprofit Housing Counseling on Foreclosure Prevention

Foreclosures are Down but Still Existent The number of foreclosure filings has decreased in many areas in the country.  Even still, foreclosures are still occuring. Some mortgage lenders may have held off on the filing of a foreclosure so now they seem to be taking more action to begin the foreclosure process with homeowners. The good news is many of those filings actually will never become a full blown foreclosure, …Read More

Ask An Expert: What steps should I take to prepare as a first-time homebuyer?

Q. What steps should I take to prepare as a first-time homebuyer? Dear reader: The prospect of becoming a home owner is very exciting and it’s the beginning of a long-term financial commitment, probably one of your biggest. Many first-time homebuyers find the process a lot trickier than expected, so it’s wise to be prepared to ensure you will have a successful experience. Here are some tips to help you …Read More

Who Pays Closing Costs In A Home Purchase?

By Tali Wee  Understanding all the details of a home purchase can be overwhelming and downright confusing for some, and especially when it comes to closing costs. Before buying, shoppers must budget the future monthly costs of owning, including property taxes and insurance, and then add on the down payment and other fees due at closing. Closing costs are tough to fully understand because they vary by location, lender, and …Read More

Credit Counselor Nitzsche: Once Helped, Now He Helps

By Cliff Goldstein Like a lot of young adults, Thomas Nitzsche was able to get approved for several credits cards with high spending limits when he was in his early 20s. And like a lot of people, Nitzsche soon found himself buried under a mountain of debt. “I always maintained good credit, but I was facing about $10,000 in combined debt,” Nitzsche says of that stressful period a decade ago. …Read More

Tips for Renting a Home When Your Credit is Poor

By Stacy Johnson If you’ve ever found yourself in search of a new place to live and your credit is less than perfect, you probably know it’s not easy. It may be especially difficult right now, because in many U.S. cities, rental properties are in short supply, and demand is high. A tight market generally means the qualification criteria will be more stringent to weed out applicants. But there are ways to persuade landlords …Read More

Pros and Cons of Reverse Mortgages

By Jason Alderman Over the last decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. However, for many, improper use of the product – such as pulling all their cash out at one time – has led to significant financial problems later, including foreclosure. In actuality, there are some cases where reverse …Read More

Single Mom Overcomes Obstaclesto Provide Home for Son with Down Syndrome

By Gail Cunningham National Homeownership Month is the ideal time to remind Americans that owning a home represents much more than a mortgage. Tia Early, the NFCC Professional Achievement and Counseling Excellence (PACE) Housing Client of the Year, is the picture of what a mother will do to provide a home for her son, redefining perseverance along the way. Tia Early is no stranger to tackling tough situations and making …Read More

Don’t Have 20 Percent to Put Down?Not a Problem.

By Chris Birk The days of scraping together a 20 percent down payment are mostly gone among today’s homebuyers, and it’s unclear if they’ll return. The average homebuyer puts down 16 percent of the purchase price, a 9.4 percent drop since May 2011, according to LendingTree. But it’s certainly possible for prospective buyers to lock into a loan with far less cash at the ready. Some housing observers have made the case …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

Consumers Eager To Buy A HouseOr Improve Existing One

By Gail Cunningham According to a recent poll hosted on the NFCC website, www.DebtAdvice.org, the American dream of homeownership is alive and well. When asked what they were most anxious to do if their financial situation were to improve, more than half, 51%, indicated they would buy a home. Home repairs and improvements captured the second highest number of respondents, with 23% selecting that option. Homeownership has traditionally been a part of …Read More