Riverside, CA (PRWEB) March 7, 2009
Springboard Nonprofit Consumer Credit Management was the concentrate of a current story by John Mone of the Related Press, the story featuring foreclosure prevention counseling came on the heels of the Obama Administration and U.S. Department of Treasury’s Creating House Inexpensive system that offers assistance to 7 to 9 million property owners creating a great-faith work to make their mortgage payments.

In the AP story Mone reported, “When it comes to foreclosure numbers, Riverside County California is pretty a lot in the leading ten in the United States. This is where the sub-prime mortgage meltdown struck deep.”

With the U.S. unemployment price reaching its highest level in 25 years, Springboard is reporting a record number of counseling sessions in the regions of foreclosure prevention and credit and debt counseling. Throughout the nation, Springboard gives assistance with housing counseling, income and credit management via educational applications and complete counseling in both English and Spanish. Springboard is a HUD approved housing agency, a member of the National Foundation for Credit Counseling, and agency companion in the nationwide Homeownership Preservation Foundation’s Hope Hotline. “We encourage distressed home owners to attain out to their lenders and HUD approved housing counseling agencies like Springboard,” mentioned Melinda Opperman, vice president of neighborhood outreach at the Springboard housing and credit counseling agency. “We’re aware of situations on a everyday basis exactly where troubled home owners have been taken advantage of by paying upfront charges to organizations promising achievement for loan modifications and other workouts only to later understand no operate was performed and a lot damage has been completed. Negotiating loan workouts, options and solutions is anything lenders and non-profit housing counseling agencies offer you homeowners for cost-free,” mentioned Opperman.

Springboard offers the following advice for customers facing foreclosure or other financial hardship.

Open all mail promptly. Do not ignore the communication from your creditors or lenders.

If you are having troubles producing your payments, call or write to your lender’s Loss Mitigation Division without having delay.

Be prepared to explain your scenario and offer your lender with your monetary details.

Do not pay funds upfront for a loan modification.

Be wary of foreclosure rescue scam artists that claim to be helping you save your residence.

Make contact with a HUD authorized housing counseling agency.

In 2008, Springboard counseled almost 20,000 troubled home owners in California, and a lot more than 50,000 nationwide.

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