Money Management International offers help for struggling homeowners

MMI, MHA partnership helps families facing foreclosure apply for free assistance

SUGAR LAND, Texas, Aug. 13, 2013 /PRNewswire-USNewswire/ -- Money Management International (MMI) is participating in a nationwide partnership to help families struggling with their mortgage payments apply for help from the Federal government's Making Home Affordable Program – a key part of the Obama Administration's efforts to help families avoid foreclosure and strengthen the housing market recovery.

More than one million homeowners nationwide have already benefitted from the Making Home Affordable Program, but hundreds of thousands of additional families are still eligible for help.

MMI – a nonprofit, full-service credit counseling agency approved by the U.S. Department of Housing and Urban Development (HUD) – is working in partnership with the U.S. Department of the Treasury, NeighborWorks® America and more than 700 housing counseling agencies across the country to help homeowners complete application materials for the program free-of-charge and successfully submit them to their mortgage company.

Homeowners struggling with their mortgage payments often delay reaching out for help because they feel overwhelmed and unsure of where to turn. Many homeowners have expressed difficulties working with their mortgage company to submit the documents required to apply for help, which has postponed getting them the help they need. Unfortunately, some homeowners have paid to get help only to discover that they have become the victim of a scam. 

As part of this nationwide effort to help families apply for mortgage aid, MMI offers these tips for homeowners struggling with their monthly mortgage payments:

• Homeowners should remember that they do not need to navigate through their mortgage difficulties alone. Homeowners can always work with a HUD-approved housing counseling agency, like MMI, free-of-charge to get help understanding their options and applying for assistance. Research shows that homeowners who work with a housing counselor are more likely to receive the assistance for which they are eligible.
• Homeowners should not delay reaching out for help if they are struggling with their mortgage payments. There are more options available today to help families avoid foreclosure than ever before. The Federal government's Making Home Affordable Program is the first step for many families to access the help they need.
• There is never a fee to apply for help. Homeowners should beware of anyone who asks them to pay a fee for counseling services or for a mortgage modification.

To make an appointment with MMI to get free help applying for mortgage aid, simply call 888.665.9659 to speak with a certified housing counselor, or visit MMIurl.org/MHAcounseling for more information.

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 24/7 by phone and online, and by appointment at branch locations. Services are available in English or Spanish. To learn more, call 866.490.9477 or visit MoneyManagement.org. We're social! Like us on Facebook. Follow us on Twitter. Watch us on YouTube. Subscribe to our blog.

The Making Home Affordable Program is a free government program administered by the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development to help families avoid foreclosure and strengthen the housing market recovery.  Making Home Affordable offers options to help homeowners modify or refinance their mortgage loan to make their monthly payments more affordable, take a temporary break from their mortgage payments if they are struggling from unemployment, receive targeted principal reduction in certain circumstances, or transition out of their home through a short sale or deed-in-lieu of foreclosure.  For more information, please visit MakingHomeAffordable.gov.

For 35 years, NeighborWorks America has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development and affordable housing professionals.

Contact:
Tanisha Warner
Media Relations
713.394.3202
Tanisha.Warner@MoneyManagement.org

SOURCE Money Management International