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Housing Counseling

Smart Money Moves to Make Before You Get a Mortgage

The American dream—owning a home with a white picket fence—just may be alive and well. There are trillions of dollars’ worth of mortgages in the United States, with a surprisingly low amount of them in delinquency. That demonstrates that not only are Americans affording homes, but they’re doing it without missing frequent payments.   If you want the same for yourself, you may find there are a number of things …Read More

How a Mortgage Can Save You Money in the Long Run

Conventional wisdom holds that buying a home is the best investment you can make, but despite rising rent prices across the country, many people are wondering if it’s still smarter to buy. While a home purchase may not be the best choice for everyone, if you’re focused on building a secure financial future, then the question of whether to buy or rent is a no-brainer.   Why It Pays to …Read More

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

First-Time Home Buyer Tips

So you and you’ve finally decided to take that next step. You’ve got a steady job, saved up some money and are ready to start a family. You’re ready to buy a home. You’ve picked out the city you want to live in and are ready to finally make that purchase. But before you do, take these first-time home buyer tips into consideration before you sign the dotted line. Is …Read More

The Debt-To-Income Ratio Explained

Dear Kim, I am considering buying my first home. I have been doing some research and keep hearing about debt to income ratio. What exactly is the debt-to-income ratio and how does it affect my mortgage application?   Dear Reader,   The debt- to- income ratio, or DTI, is a ratio that lenders use to determine how much of your monthly income is being used to pay your debt.  There are …Read More

5 Myths About Credit Counseling

 By Steve Nitz NFCC member agencies provide financial education to millions of consumers each year. These appointments can be either in person, over the phone or online. However, there’s a good amount of the country’s population that’s afraid to schedule a counseling appointment due to a number of misconceptions. Here are five myths about credit counseling, debunked: I. Credit counseling will hurt your credit score Possibly the biggest misconception when …Read More

An Introduction to 3% Down Conventional Home Mortgages

 By Henry Ochoa For the past few months, private banks have been introducing 3% down conventional mortgage packages. These 3% down mortgages are a way to get first-time homebuyers into a home with a low down payment, as opposed to having to pay the typical 5-20% conventional down payment. Low down payment mortgages are an attractive option for people who live in cities where rent is high and it’s tougher …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

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