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Keep informed and educated about the credit counseling industry, credit and money management issues.  In this section you'll find articles on a variety of topics.  Just click on the title to get to the article.  Remember to check back often for new information.

 

 

When a person is hurting, all they focus on is stopping the pain, even if that pain is financial.  That is why consumers become so vulnerable to scam artists during tough economic times.

 

Mortgage rescue specialists, mortgage modification specialists, loss mitigation specialists, whatever they call themselves, the outcome is always the same: the homeowner pays for a service that never materializes.

 

With millions of homeowners in danger of foreclosure, it should not be surprising that crooks have schemed to create legitimate sounding plans that purport to help people save their homes.  Likewise, the well-intentioned homeowners, desperate to keep their largest investment, fall victim to the too good to be true advertisements.

 

Couple that with the confusion over the government’s recently announced “Making Home Affordable” plan, and you have a recipe that’s blended just to the scam artist’s liking. 

 

In an effort to keep homeowners from being victimized, Advantage Credit Counseling Service suggests the following help for homeowners who need assistance:

 

·   Be wary of anyone who calls you and offers a rescue plan.  Foreclosures are public record, thus crooks can easily obtain the information of at-risk homeowners.  Scam artists know all the right things to say, including attempting to make their company’s name sound legitimate or official.  Many try to convince the homeowner that they are a government agency, or are otherwise associated with your loan.  Play it safe and only speak with entities where you initiate the call.

·   Do not pay anyone a fee before a service is delivered.  This is the hallmark of a scam.  Some consumers have not only lost thousands of dollars, but some have even lost their home.  Certainly don’t sign any documents on the spot.  If someone tries to rush you into signing, show them the door.

 

·   Part of the government’s plan involves knowing if your loan is carried by Fannie Mae or Freddie Mac, something the average homeowner does not know.  You do not need to pay someone to find this information.  To learn if your home loan is owned or secured by Fannie or Freddie, simply call (800) 7FANNIE or (800)-FREDDIE.  The same information is available online by going to www.fanniemae.com/homeaffordable or www.freddiemac.com/avoidforeclosure.

·   You do not need to pay someone to see if you qualify for the housing programs. To help determine your eligibility, the government created an online resource.  Go to www.financialstability.gov to learn more.

·   To better prepare those who work with distressed homeowners, HUD, Treasury, Fannie Mae and Freddie Mac, among other government entities, have hosted numerous conference calls and published documents educating lenders, servicers, and housing counselors about the implementation of the plan.  There are many legitimate sources who understand what help is available and stand ready to work with you to save your home.

 

Advantage Credit Counseling Service has certified housing counselors who are trained to assist those struggling to keep their home. The counselors work with homeowners and lenders all day ever day and fully understand how to make the new housing plans benefit those who are facing foreclosure.  It is also very important to note that there is no cost for this service.  Homeowners can call for Advantage CCS for help, toll-free at (888) 511-2227.

 

Advantage Credit Counseling Service, formerly known as Consumer Credit Counseling Service of Western Pennsylvania, has been helping people get rid of their “debt monkey” since 1968 by educating them on matters of personal finance management, budgeting and credit management.

 

The non-profit 501(c)3 agency is accredited by the Council on Accreditation (COA) and holds membership with the Better Business Bureau. Advantage has been designated as a certified

comprehensive housing counseling agency by the U.S. Department of Housing and Urban Development (HUD). Advantage is also a member of the National Foundation for Credit Counseling, the umbrella association for over 100 credit counseling agencies nation-wide that promotes the highest member standards for credit counseling.

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