National nonprofit American Consumer Credit Counseling will offer free Home Equity Conversion Mortgage counseling and critical guidance to homeowners as a result of grant.
Boston, MA – September 16, 2013
American Consumer Credit Counseling announced today that the national nonprofit organization has received a Housing Counseling grant of over $20,000 to provide Reverse Mortgage Counseling and Mortgage Delinquency/Default Counseling. The award comes from the National Community Reinvestment Coalition (NCRC), a national Housing and Urban Development (HUD) intermediary with more than 600 community-based affiliates.
ACCC can now offer free reverse mortgage counseling to borrowers who are required to do the counseling in order to move ahead with their loan, as long as they income qualify. A Reverse Mortgage is a unique loan that enables homeowners 62 or older to convert the equity in their homes into cash, which can provide for increased financial independence and the ability to age in the home.
“Accessing money that has been built up as equity in their homes enables older Americans to enjoy increased financial independence,” stated Steve Trumble, president and CEO of ACCC. “We are thrilled to receive this NCRC grant, which, in part, allows us to further facilitate personal economic empowerment and community stability through homeownership by providing consumers access to education, counseling and other tools.”
“Reverse mortgages often seem confusing or complicated to prospective borrowers, and they hear all kinds of opinions as to the wisdom of getting a reverse mortgage,” added Scott Withiam, Housing Counseling Supervisor at American Consumer Credit Counseling. “Thanks to the generosity of HUD and NCRC, this grant will allow ACCC’s certified HECM counselors to continue with more one-on-one guidance for potential reverse mortgage borrowers. Counselors do their best to ensure that borrowers are fully informed, have weighed all of the risks, and look at the full financial picture before deciding on a reverse mortgage.”
“We haven’t experienced a drop-off in foreclosure counseling either,” Withiam continued, “and that factor, combined with some recent changes in mortgage modification guidelines, will mean this money will also help those in danger of foreclosure with continued delinquency/default counseling.
To learn more about free HECM reverse mortgage counseling services, visit ACCC’s Housing Counseling Department online at /debt-programs//housing-counseling.aspx. To speak with one of ACCC’s certified housing counselors, call 1-866-826-7180 or submit a counseling inquiry form at /debt-programs//housing-counseling/housing-counseling-form.aspx
ACCC is a 501(c)3 organization, that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. The organization’s Housing Counseling Department offers comprehensive homebuyer education resources, as well as individualized counseling on pre- and post-home purchases, reverse mortgages and foreclosures so that consumers can achieve their housing goals. For more information, contact ACCC:
- For credit counseling, call 800-769-3571
- For bankruptcy counseling. call 866-826-6924
- For housing counseling, call 866-826-7180
- For more information on financial education workshops in New England, call 800-769-3571 x1980
- Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a non-profit 501(c)(3) organization dedicated to empowering consumers to achieve financial health through education, counseling, and debt management. ACCC provides individuals with practical solutions for solving financial problems and recognizes that consumers’ financial difficulties are often not the result of poor spending habits, but more frequently from extenuating circumstances beyond their control. As one of the nation’s leading providers of financial education and credit counseling services, ACCC works with consumers to help them with the best plan of action to reduce their debt and regain financial stability. ACCC is accredited by the Better Business Bureau and holds an A+ rating. It is also a member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources log on to ConsumerCredit.com or visit TalkingCentsBlog.com.