Fo For Immediate Release on May 25, 2006

Local Non-Profit Saving Average of

 70 Homes Monthly From Foreclosure

Consumer Credit Counseling Service (CCCS) of North Central Texas is answering the call of homeowners facing the prospect of imminent foreclosure on their homes. CCCS Certified Housing Counselors are busily helping stop an average of 70 foreclosures every month.

The Texas foreclosure rate is 2.5 times higher than the national average, making up 20% of the nation’s total foreclosures. To break that down even further, 53.6% of all Texas homeowners suffer from critical housing needs. 

The need was so great that in the summer of 2004 CCCS of North Central Texas handed the task of forming a separate Housing Department to Betty Parker, a certified credit counselor who was promoted to Housing Coordinator. She counseled housing clients full-time with 14 other counselors helping with the overflow. In the first 6 months alone the client-load of despairing homeowners looking for help exploded by 275%.

“We have a monumental task before us to help turn the tide for the homeowners in the communities we serve,” Parker said. “Through counseling, budget training and innovative programs our goal is to educate families and stem the threat of foreclosure before it’s too late.”

Parker says the reasons for these families losing their homes are as varied as the homeowners themselves. One important factor has been the propensity for homebuyers to buy as much house as they qualify for instead of as much house as they can afford. The difference can be devastating especially if the homeowner has increased expenses or a decrease in income.

“Our focus is on saving as many homes as possible while educating families on ways to prevent the same pitfalls in the future.” Parker said. “We are developing a pilot program called Healthy Home-Owner which will be the focus of the CCCS 8-hour pre-purchase housing workshops as well as post-purchase counseling. The plan is to offer the programs in Spanish as well as English.”

CCCS is continuing to develop unique partnerships with reputable mortgage and real estate companies to help those who cannot afford their home to find suitable alternatives to foreclosure.

CCCS of North Central Texas is certified through the American Association of Retired Persons (AARP) to advise seniors on how they can stay in their homes through a reverse mortgage. Freeing up cash from the equity in ones home while remaining in the home can be a boon for seniors living on a fixed-income.

For more information on housing issues contact the CCCS housing department at 800-856-0257 or go online at www.cccsnct.org.