| May 22, 2012

Homeownership remains central part of ‘American Dream’

Several studies have revealed that Americans’ perceptions of money have changed following the economic downturn, and many households are being more cautious about the type of big-ticket purchases they make. Buying a home is one of the largest expenses an individual may take on in his or her lifetime, and the tumultuous housing market and thriving rent market have prompted many analysts to question whether homeownership is still a central goal for Americans.

The results of the new Home Buyer Poll, conducted by TD Bank, reveals that the American Dream of owning a home is still alive and well. According to the results, 84 percent of today’s renting generation – those between 18 and 34 – said they plan to one day purchase a home. Another 59 percent of respondents said they associated feelings of excitement and pride with the process of purchasing their first home.

Seventeen percent said owning a home is a good opportunity, and 11 percent said it was crucial to their evolving family. Another 10 percent listed being financially ready in their decision to purchase a home.

“There’s no denying buying a home is a pivotal point in a person’s life,” said Michael Copley, TD Bank executive vice president of retail lending. “Our survey tells us that people are looking to buy homes, and attitudes towards homeownership have continued to remain positive over the years.”

Young adults who plan on purchasing a home in the future may benefit from planning ahead to start saving for a down payment and determining how large of a mortgage they can afford. Enrolling in housing counseling can be a good first step to start understanding the basics, such as the different types of mortgages available, the ins and outs of the buying and closing process and the resources available to help them make the right financial decisions.

In addition, curbing debt and putting more savings away is another crucial element to purchasing a home. Keeping debt levels low will help buyers preserve their credits cores, which will play a central role in the mortgage they qualify for and the terms and rates attached. In addition, consumers may improve their chances of being approved for a home if they are able to make a sizable down payment. Buyers working with a traditional lender should aim for a 20 percent down payment to avoid being required to purchase private mortgage insurance.

"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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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.

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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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