Tag Archives: Springboard

Springboard Provides Hope to Troubled Homeowners: Linked Press Reports on Foreclosure Prevention Counseling at Springboard

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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.

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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.”

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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.

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

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

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

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

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Do not pay funds upfront for a loan modification.

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

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Make contact with a HUD authorized housing counseling agency.

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

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About Springboard Nonprofit Consumer Credit Management&#13

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Springboard Alerts Buyers to New Law and Designated Hotline

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Riverside, CA (PRWEB) October 15, 2009

In response to a new California law prohibiting sophisticated costs for mortgage loan modification services, Springboard Nonprofit Consumer Credit Management has established a particular hotline with a lot more than 50 HUD certified housing counselors to aid troubled home owners.

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California Senate Bill 94 (SB 94) signed by Governor Arnold Schwarzenegger requires impact right away and prohibits any particular person, including true estate licensees and attorneys, from demanding or collecting an advance fee from a consumer for mortgage loan modification or mortgage loan forbearance solutions affecting 1 to 4 unit residential dwellings.

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Springboard is a 501(c)(3) nonprofit organization founded in 1974, a HUD authorized complete housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. In 2008, Springboard helped much more than 58,000 troubled homeowners evaluate their housing options, open lines of communication with mortgage lenders, and determine solutions and an action plan distinct to their predicament, all at no cost to the customer. “Springboard has dedicated the hotline quantity 800-449-9402 for Californians looking for loan modification help at no expense to the consumer,” said Melinda Opperman, Springboard’s senior vice president of community outreach and market relations.

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The bill, authored by California Senator Ron Calderon, stipulates that advance costs collected on or soon after October 11, 2009 have to be refunded to the customer. Additional stipulations of the bill state that it is not illegal for companies to supply loan modification services. It is illegal to gather cash or other consideration in advance. If loan modification services are supplied, specific disclosures are needed to be in the agreement. All practitioners need to become familiar with the provisions of SB 94, which carries substantial administrative and criminal penalties for violations.

Springboard Applauds Government Study on Importance of Housing Counseling

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Riverside, CA (PRWEB) June 08, 2012

Springboard Nonprofit Customer Credit Management, Inc., (Springboard) commented nowadays on study findings released by the U.S. Department of Housing and Urban Improvement (HUD) that validate the worth and effectiveness of housing counseling at facilitating sustainable homeownership.

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By way of counseling, HUD discovered property owners are far more most likely to remain in their residences, even when facing foreclosure. The HUD study reports on two sorts of counseling: pre-buy and foreclosure prevention. In each research, HUD discovered housing counseling drastically improved the likelihood homeowners would stay in their residences.

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The 18-month study examined the influence of HUD-authorized housing counseling for households taking into consideration the buy of a 1st time home and for these facing foreclosure. According to independent research, housing counseling substantially improved the likelihood of continued homeownership for both study groups. Practically seventy % of those counseled for foreclosure prevention obtained a mortgage remedy, with a lot more than half subsequently becoming present on their mortgages. In addition, thirty-5 % of these getting pre-obtain counseling became homeowners, with only one homeowner eventually falling behind on their mortgage payments, a drastically improved outcome over prevailing delinquency prices inside the general population.

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Another important discovering released by HUD revealed the value of the expansion of telephone counseling throughout the foreclosures crisis as an critical option resource for folks and communities.

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Established in 1974, Springboard is a HUD-authorized 501 (c)(three) nonprofit community service organization that functions to strengthen communities and boost the lives of consumers by offering solutions that promote financial literacy, stable homeownership and a healthier economy. Springboard is the biggest HUD-approved housing counseling agency on the West Coast.

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In addition, Springboard is a network counseling companion of The Homeownership Preservation Foundation (HPF), an independent national nonprofit that has received much more than six million telephone calls from distressed home owners looking for to keep away from foreclosure. By means of its affiliation with HPF, Springboards housing counselors give financial education and details to distressed home owners calling HPF’s Property owners HOPE Hotline at 888-995-HOPE. Independent investigation underscores the efficacy of telephone-based counseling for homeowners in require. With the housing crisis still amongst us, property owners require to have selections on where they can turn for assist and the findings released by HUD confirmed that those counseled via the phone had optimistic housing outcomes in terms of loan modification, principle reduction, and general likelihood to remain in their property and be current on their loans.

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These findings are optimistic and confirm the worth of counseling. The results of these research reinforce the need to have for housing counseling, said Todd Emerson, Springboard President and CEO. As a HUD-approved housing counseling agency, we give a valuable service to homeowners that operates and is confirmed to tremendously boost the likelihood that individuals and families can remain in their properties, said Emerson.

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The study tracked the characteristics, experiences, and outcomes of 824 property owners who sought foreclosure mitigation counseling and 573 clientele who sought pre-purchase counseling. The final reports from the study were published in May and are offered on HUDs website: Pre-Acquire Counseling Outcome Study and Foreclosure Counseling Outcome Study.

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This study supplies info on who accesses counseling solutions when facing challenges in paying their mortgage loan, what solutions these clients obtain, and identifies the outcomes the customers skilled in the following 18 months. Please note that this study was designed to figure out the correlation among the data, but was not created to predict causation among the information. The reports findings incorporate:

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Springboard Options to Offer Foreclosure Prevention Solutions to New Mexico Home owners

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Riverside, Calif. (PRWEB) October 12, 2012

Springboard Solutions, LLC, a subsidiary of Springboard Nonprofit Customer Credit, Management, Inc., has been chosen by the New Mexico Attorney Generals office to offer foreclosure prevention services to distressed homeowners. Subject to profitable contract negotiation, Springboard will employ its confirmed platform of plan administration to handle the New Mexico toll-free of charge homeowner hotline. The hotline will serve as a single point of entry for housing counseling intake by triaging calls and directing troubled homeowners to the proper statewide nonprofit housing counseling agency for loan modification and loss mitigation services, which includes refinance possibilities, brief sale transactions or a deed in lieu of foreclosure.

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We appear forward to assisting New Mexico home owners find a workable remedy to their housing circumstance, said Aaron Horvath, president of Springboard Options. The hotline will educate, shield and help struggling borrowers, said Horvath.

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As portion of the historic settlement with the nations five largest banks, the New Mexico Attorney Generals office has devoted much more than $ 11 million more than the subsequent 3 years to operate with established organizations to help New Mexico households in want.

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Springboard Solutions continues to leverage its system administration encounter to support AG offices and their selected administrators with the oversight of essential statewide customer programs.

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About Springboard Solutions, LLC&#13

Springboard Options, LLC supplies system administration solutions (Folks, Process, Systems) to government agencies and nonprofit organizations assisting customers in want of financial assist and help. The company is a subsidiary of Springboard Nonprofit Customer Credit Management, Inc. , an IRS 501(c)(three) nonprofit personal economic education and counseling organization founded in 1974. For much more data on Springboard Options, go to their site at http://www.SpringboardSolutions.org.

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