Home Ownership& Credit Education

If you think that you're not quite ready to buy a home, don't give up. Divorce, losing a job, emergency medical expenses or simply not having the financial literacy skills to effectively manage your money can result in credit difficulties.

There are resources available to help you build back your credit and prepare to buy a home. You can start by searching this site and and asking questions in our discussion forum. You will find many people willing to help you along the way, so feel free....post away.

Taking a Home ownership education class can help you become a successful homeowner. Home ownership education classes provide information about:

The mortgage approval process
Qualifying for a loan
The importance of establishing a strong credit reputation
Selecting a home that's affordable over the long term
The financing and closing processes
Avoiding mortgage delinquencies, defaults and foreclosures

Credit counseling can help you improve and build back your credit. A credit counselor can provide:

Credit education
Confidential budget and debt counseling
Debt repayment programs
Financial management education

Look in your own community for these valuable nonprofit resources:

Consumer Credit Counseling Services, a national nonprofit agency with offices in most states and in many major cities. It will work individually with you and the companies to which you owe money to help you develop a budget and payment plan that allows you to pay off your debts over time. The fees are small and are generally based on what you can afford to pay. Check the yellow pages or visit www.moneymanagement.org for the office closest to you.

National Foundation for Credit Counseling, a network of 1,300 local nonprofit organizations. Check the yellow pages or visit www.nfcc.org for the office closest to you.

Neighborhood Reinvestment Corporation has a network of over 300 NeighborWorks organizations. Check the yellow pages or visit www.nw.org for the office closest to you.

Other nonprofit Home ownership education groups in your area. Check your yellow pages under "credit counseling." Or, on the Internet, search for topics such as "debt counseling," "consumer credit counseling service" or "Home ownership education." Contact Allie Mae for personal advice

Becoming a homeowner

 

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FTC
   
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By visiting Allie Mae you have taken your first step toward becoming an educated borrower. Allie Mae is an objective, independent source of information for the mortgage consumer. Whether you are buying a home, refinancing, taking a home equity loan, building a home or in need of a mortgage for any purpose, Allie Mae is here to help. Allie Mae has helped thousands of people with their mortgage needs. We have a complete selection of articles, charts, calculators, and checklists designed to help you through the mortgage and home buying process.

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