March 12th, 2012 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 [...]
September 27th, 2011 The National Association of Hispanic Real Estate Professionals (NAHREP) and the NFCC recently announced a new partnership to expand access to financial education and vital credit and housing counseling services specific to the Hispanic community. With tools and counseling available in Spanish, NAHREP’s 50 affiliate chapters and the NFCC’s 92 Member Agencies will collaborate to bring [...]
August 18th, 2011 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 [...]
July 21st, 2011 Tomorrow is the last day to qualify for up to $50,000 in mortgage assistance! If you are at least 90 days late on your mortgage payment you could qualify for the US Department of Housing and Urban Development (HUD)’s Emergency Homeowners’ Loan Program (EHLP). You could receive a zero interest, forgivable bridge loan. Eligible homeowners [...]
July 20th, 2011 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 [...]
July 18th, 2011 Many older Americans find themselves house rich and cash poor. They own their home, or at least have significant equity in it, yet struggle to make ends meet each month. They could sell their home, but are not inclined to move and leave their memories behind. A reverse mortgage may be the answer they seek. [...]
July 12th, 2011 Time is running out to qualify for up to $50,000 in mortgage assistance. If you are at least 90 days late on your mortgage payment you could qualify for the US Department of Housing and Urban Development (HUD)’s Emergency Homeowners’ Loan Program (EHLP). You could receive a zero interest, forgivable bridge loan. Eligible homeowners must [...]
June 28th, 2011 Earlier, we told you how the Consumer Financial Protection Bureau (CFPB) is striving to condense mortgage disclosure forms into one shorter, simpler form. Now, after hearing feedback from over 13,000 consumers, lenders and housing counselors, they’ve finalized drafts of two sample forms to replace the Good Faith Estimate and the Truth in Lending form. The [...]
June 23rd, 2011 The NFCC is pleased to announce that it has been awarded a maximum grant of $5,821,833.60 under the Emergency Homeowners Loan Program (EHLP). This award represents approximately 25 percent of the total $22,990,954 allocated under EHLP. The Dodd-Frank Wall Street Reform and Consumer Protection Act provided $1 billion to the U.S. Department of Housing and [...]
June 15th, 2011 Yesterday we listed a few key tips to help potential homeowners. Today we are providing you with even more guidelines to assist you through the process of buying a home. Build a savings account. There are lots of up front costs associated with buying a home. A down payment is almost always requested and can [...]