National Homeowner Crisis Resource Center Launched to Assist Americans in Danger of Losing Their Homes

Oct 02, 2007, 01:00 ET from National Foundation for Credit Counseling

    SILVER SPRING, Md., Oct. 2 /PRNewswire-USNewswire/ -- The National
 Foundation for Credit Counseling (NFCC) announced today the launch of an
 online resource to assist homeowners who may be at risk of losing their
     As more and more families find themselves caught in the squeeze of
 variable rate mortgages with rising costs, they are quickly realizing that
 they simply cannot afford the mortgage payments. The number of foreclosed
 homes in the first six months of 2007 surged by 58 percent, putting
 approximately 573,000 homes at risk. And there may be more bad news ahead
 because another 2.2 million mortgages will reset over the next 18 months.
     Many homeowners with financial problems, especially those who are at
 imminent risk of losing their homes, are often overcome with fear or in
 denial. Fifty-percent of borrowers do not even contact their lender
 informing them that they are falling behind. In many situations,
 recognizing the warning signs, facing the reality, and taking action can
 make the difference, enabling them to stay in their homes and protect their
     Meeting the need, the NFCC created the Homeowner Crisis Resource
 Center(SM) at where consumers will find the
     --  Direct access to certified housing counselors through either a toll-
         free hotline (866) 557-2227, or an online locator;
     --  A self-diagnostic tool called the Mortgage Reality Check(SM) designed
         to help homeowners assess their situation and provide steps if it
         shows that they may be at risk; and
     --  An abundance of homeowner information and financial tools.
     The Web site is just one of the NFCC's stepped up counseling and
 education efforts in communities across the country to assist homeowners
 who may be at risk of losing their homes. The NFCC network of nonprofit,
 community-based agencies has nearly 1,000 offices and more than 1,200
 certified housing counselors who are ready to assist consumers avoid
 foreclosure now.
     Consumers can receive immediate assistance by calling (866) 557-2227,
 an NFCC toll-free hotline that will connect them with an NFCC-certified
 housing counselor.
     Individuals in need can also receive assistance by logging onto:
     For more than 50 years the NFCC has provided consumers with sound
 financial advice as the recognized leader in financial education and
 counseling services, assisting more than two million consumers a year.
 Housing counseling is a core service of nearly all NFCC member agencies and
 most are HUD-approved housing counseling services.
     The National Foundation for Credit Counseling (NFCC), founded in 1951,
 is the nation's largest and longest serving national nonprofit credit
 counseling organization. The NFCC's mission is to promote the national
 agenda for financially responsible behavior and build capacity for its
 members to deliver the highest quality financial education and counseling
 services. NFCC members annually help two million consumers through nearly
 1,000 community-based offices nationwide.

SOURCE National Foundation for Credit Counseling