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Nonprofit agency brings a wide array of tools and experience in preventing mortgage default

Posted on July 14, 2011

As homeowners continue struggling with foreclosures and mortgage defaults, Money Management International (MMI), the nation’s largest nonprofit, full-service credit counseling agency, is reminding consumers of the many tools and financial education resources available to help fight back against foreclosure and keep their piece of the American Dream.

As more American families struggle with mortgage delinquency, there are calls for more scrutiny of banks and lenders, and for the government to do something about it. Some predict improvement; others say it could get worse. Whatever the case, more and more homeowners are struggling to make ends meet and find a way to hold on to their most valuable asset – their home.

“Our nation’s foreclosure crisis continues to be one of the most damaging aspects of the current down economy,” said Kim McGrigg, community manager for MMI. “Losing a home is more than a financial issue; it is one of the most scary and emotionally draining experiences a family can face. The far reaching impact can be felt well into the future. At MMI, we’re using our years of experience to help families fight back against foreclosure.”

The certified counselors at MMI are approved by the U.S. Department of Housing and Urban Development (HUD) to help homeowners explore and find the right option for curing their delinquent loan and develop an action plan for future financial success.

MMI is also approved to assist struggling homeowners in applying for the Emergency Homeowners’ Loan Program (EHLP). The EHLP was implemented by HUD to provide financial assistance for homeowners who have experienced a drop in income of at least 15 percent due to economic hardships caused by unemployment, underemployment, or a medical condition.

Eligible applicants may receive a zero interest forgivable loan that pays past due mortgage payments, including missed payments and late charges, up to a maximum of $50,000. Acting fast is vital; the deadline for submission is July 22, 2011.

Call MMI at 877.329.2502 for information and assistance with the qualification process, or go online at Get-EHLP.org.

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About Money Management International

Money Management International (MMI) is a nonprofit, full-service credit-counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan and repay debts. Counseling is available by appointment in branch offices and 24/7 by telephone and Internet. Services are available in English or Spanish. To learn more, call 800.432.7310 or visit www.MoneyManagement.org.

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