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October 3, 2007 - National Foundation for Credit Coun

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

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 homes.

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 families.

Meeting the need, the NFCC created the Homeowner Crisis Resource Center(SM) at http://www.housinghelpnow.org/ where consumers will find the following:

  --  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: http://www.housinghelpnow.org/.

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

CONTACT: Nick Jacobs of National Foundation for Credit Counseling, cell: +1-240-599-6547, njacobs@nfcc.org

Web site: http://www.housinghelpnow.org/
To see more releases from National Foundation for Credit Counseling Inc., Click Here
This company`s web site http://www.nfcc.org/

National Foundation for Credit Coun by Nick Jacobs, Silver Spring-MD