Tip of the Week

Posted December 26, 2008

 

Two Ways to Get Out of Money Trouble


When it comes to making sure consumers and their money are not foolishly departed, few groups do as good as a job as the Consumer Federation of America (CFA). In a recent release, the CFA offered advice to those who are having trouble paying their bills or, worse, in danger of losing their home to foreclosure.

  1. If your home is in danger of foreclosure and you can't work out a solution with the lender, CFA recommends that you contact your state or local housing finance agency, or call the HOPE NOW hotline at 888.995.4673 or visit its Web site at www.HopeNow.com. HOPE NOW is an alliance between HUD-approved counseling agents, servicers, investors and other mortgage market participants that provides free foreclosure prevention assistance.
  2. If you're having trouble paying your bills, CFA suggests that you consult your local nonprofit consumer credit counseling service. Check your local phone book or call the National Foundation for Credit Counseling at 800.388.2227 or visit its Web site at www.NFCC.org or its sister site www.DebtAdvice.org for more information.


Learn more about CFA and its most recent release, "10 Ways to Protect Yourself from
Scams and Ripoffs," at www.ConsumerFed.org.

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