CCCSSF: Nonprofit Helps Homeowners Avoid Foreclosure: Consumer Credit Counseling Service of San Francisco Awarded $5,000 PMI Grant for Homeowner Education Program

Nonprofit Helps Homeowners Avoid Foreclosure:
Consumer Credit Counseling Service of San Francisco Awarded $5,000 PMI Grant for Homeowner Education Program

February 6, 2002 – Consumer Credit Counseling Service of San Francisco was awarded a $5,000 homeowner education grant from the PMI Group, one of the largest private mortgage insurers in the United States. The money is earmarked for the development of a nationwide education program called "Tips for Homeowners."

The program will provide information on three critical areas of homeownership:

The positive and negative aspects of refinancing
How to recognize and avoid predatory lending
Where to go and what to do if you can't make your mortgage payment

Rick Harper, Director of Housing for CCCS of San Francisco explains that the grant is critical at this juncture because "The current recession has placed the family's greatest asset – the home – at risk."

Some tips homeowners should take regarding refinancing and second mortgages are:

Never sign loan documents you haven't read and understood completely
Trust your instincts. If it sounds too good to be true, it probably is
Change you mind? By law you have three days to do so – with no penalty

The relationship between CCCS of San Francisco and PMI means more homeowners will be prepared to make well-educated mortgage-related decisions. PMI Affordable Housing Manager Joel Luebkeman, says of the partnership, "PMI has a long history with CCCS of San Francisco, partnering to provide pre-purchase, homeowner education, and post-purchase early delinquency counseling. In planning our outreach effort surrounding foreclosure prevention, CCCS of San Francisco was the only organization that came to mind – we are confident that they will provide quality information to consumers."

CCCS of San Francisco has won numerous awards for excellence from the National Foundation for Credit Counseling, including outstanding Housing Education Program.

Consumer Credit Counseling Service of San Francisco is an accredited nonprofit financial counseling and education agency, with offices throughout the Bay Area. Services include money management assistance, a debt repayment program, and credit report review. For more information about CCCS of San Francisco, contact Jeannine Moore at (415) 788-0288 ext. 124, or log onto www.cccssf.org/(800) 777-7526.