Take a mortgage reality check

Take a mortgage reality checkBy Julie McAdory

STRONG AND POSITIVE holiday memories are forged in most people's hearts. Meals around the dining room table, stockings hung by the chimney with care, the opening of gifts and the sharing of stories - all activities that take place at home.

Consumer Credit Counseling Service of Greater New Orleans wants to help consumers avoid foreclosure at any time, but particularly during this holiday season. In today's uncertain economic environment, George Bailey of "It's a Wonderful Life" fame would have plenty of company. Mr. Bailey didn't anticipate the run on his bank, and undoubtedly would have done some things differently had he known.

More fortunate

Today's homeowners are more fortunate in that they can protect themselves from financial surprises surrounding their mortgages by using the National Foundation for Credit Counseling's Mortgage Reality CheckSM. This self-diagnostic tool is a predictor of the likelihood of foreclosure.

Continuing its five decades of financially educating and assisting consumers, the NFCC, of which CCCS is a member, created the Housing Crisis Resource CenterSM, an online consumer resource available in English and Spanish. The English site can be found at www.HousingHelpNow.org, with the Spanish site at www.nopierdastuhogar.org.

Within each site, consumers can find a wealth of resources including the Mortgage Reality CheckSM quiz. After answering a few questions, the consumer is placed into one of three categories:

· Immediate advice or assistance recommended
· Review the responsibilities of homeownership
· No apparent risk

Get help now

Consumers at risk can immediately connect with a NFCC-certified housing counselor by phone or online, and begin constructing a plan to save their home. Others can use the resource tools on the site to improve their knowledge of the homeownership process and responsibilities.

"Homeownership is a dream worth preserving. Every consumer would benefit from visiting this site and taking the Mortgage Reality CheckSM," said Tom Collens, executive vice president.
Consumers can receive immediate assistance by calling CCCS at (800) 880-2221 or visiting www.cccsno.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 2 million consumers a year.

Housing counseling is a core service of nearly all NFCC member agencies and most are HUD-approved housing counseling services.

· Julie McAdory is the Mississippi Education Director for Consumer Credit Counseling Service of Greater New Orleans.