| August 15, 2011

New Bill Could Stabilize the Struggling Housing Market

Consolidated Credit Explains How it Would Help Homeowners

The House Financial Services Committee is considering a new bill as a possible strategy to assist stabilizing the housing market while easing the pressure that unsold inventories of vacant, foreclosed homes are putting on the neighborhoods throughout America.

The Neighborhood Preservation Act of 2011 (H.R. 2636) would authorize FDIC-member banks as well as Fannie Mae and Freddie Mac to enter into five-year lease agreements to rent Real Estate Owned properties back to the foreclosed homeowner or another individual.

With so many foreclosed properties flooding neighborhoods, renting the properties could be a great idea. It would add stability to communities because the homes would be maintained until housing prices begin to rebound. By the time the houses are ready to be sold they will hopefully increase in value, allowing the lenders to cut their mortgage losses. Consolidated Credit is certified by the U.S. Department of Housing and Urban Development (HUD) as a housing counseling agency to help people manage their mortgage, foreclosure, reverse mortgage and/or purchase of a home.

Consolidated Credit breaks down the key consumer points of the proposed bill:

* It would allow the former homeowner to remain in the home, which would be a benefit to the individual and having someone living in and caring for the home would help preserve the home’s value.

* Fewer foreclosure properties on the market would encourage the stabilization of home values. A reduction in the number of abandoned homes would result in fewer damaging issues that are generally associated with abandoned properties.

* Over time, stabilization of home values would help consumer confidence in the housing market, resulting in an overall positive change for the economy.

“Any measure that will help people deal with foreclosures while helping neighborhoods is a good move, but the process must be managed and executed correctly to be effective. At the end of the day, it is considerably better to have families renting homes and keeping children in existing schools than have a squatter take over the property or have the house vacant which can become a safety hazard,” says Joseph Cvelbar, the director of Consolidated Credit’s housing counseling division.

Consolidated Credit offers free housing counseling seminars on topics such as purchasing a home, getting a reverse mortgage and advice about foreclosures. Visit Consolidated Credit’s Housing Counseling Section for housing counseling solutions or contact a certified financial housing counselor at 1-800-435-2262.

About:
Consolidated Credit founded in 1993, is one of the nation’s largest credit counseling organizations in the country and has helped over 5 Million people with financial issues. Their mission is to assist families throughout the United States in ending financial crisis and solving money management problems through education and professional counseling.

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"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

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