HOUSTON, June 28, 2013 /PRNewswire-USNewswire/ -- As National Homeownership Month comes to an end, Money Management International (MMI) is thrilled to announce that Daniel Burnham, a HUD approved housing counselor working from MMI's Rhode Island office, was named Homeownership Preservation Foundation (HPF) Counselor of the Year. Out of the nearly 400 housing counselors assisting homeowners through HPF's nationally endorsed HOPE Hotline, Mr. Burnham was acknowledged as counselor of the year for his outstanding ability to guide homeowners through the budgeting and loss mitigation process.
"At HPF, we appreciate the time and dedication that housing counselors demonstrate in helping to guide homeowners on the path to financial stability," said Colleen Hernandez, president and CEO of HPF. "We're excited to recognize Mr. Burnham as our counselor of the year. He exemplifies the compassion and professionalism needed to help homeowners find a sustainable alternative to foreclosure."
Over the last several years, HUD-approved housing counseling organizations like MMI have provided effective foreclosure prevention counseling to millions of homeowners facing foreclosure. Since the beginning of the housing crisis, MMI has delivered counseling and financial education to nearly 600,000 consumers struggling to pay their mortgage.
Housing counseling programs have played an integral part in helping the nation recover from the housing crisis of 2008. In fact, according to a recent study by the Department of Housing and Urban Development (HUD), nearly 70 percent of homeowners who sought housing counseling prior to falling behind on mortgage payments were able to remain in their homes and in a current status some 18 months later. In contrast, only 30 percent of homeowners counseled six months or more after falling behind reached the same level of stability during the same timeframe.
In addition, Neighbor Works America's 2012 National Foreclosure Mitigation Counseling Program Evaluation Report show that struggling homeowners who receive housing counseling are 67 percent more likely to remain current on their mortgage after receiving a loan modification than are non-counseled borrowers. These studies demonstrate the important role that housing counseling agencies can play in assisting the nearly five million homeowners who are delinquent on their mortgage or currently in foreclosure.
"We are proud to have counselors like Daniel who understand that being behind on mortgage payments isn't just a financial issue," said Jeanine Lipka, vice president of Education and Community Relations for MMI. "Facing foreclosure is one of the scariest and most emotionally draining processes that a family can experience."
MMI and other HPF network agencies work hard to provide valuable financial education and foreclosure prevention programs that today's homeowners need the most. To learn more about MMI's housing programs, visit MoneyManagement.org or call 888.995.HOPE to speak to a HUD-approved housing counselor.
About Money Management International
Money Management International (MMI) is a nonprofit, full-service credit-counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958. MMI's counselors are both HUD certified to deliver housing counseling services, including delinquency mortgage counseling, and approved by the EOUST to deliver bankruptcy counseling and education. Counseling is available by appointment in branch offices and 24/7 by telephone and Internet. Services are available in English or Spanish. To learn more, call 800.432.7310 or visit www.MoneyManagement.org.
SOURCE Money Management International