CCCS of Greater Dallas Offers Free Education and Counseling on Reverse Mortgages

HUD Grant Gives Agency the Ability to Offer Free Counseling Throughout 2010

DALLAS--()--Consumer Credit Counseling Service of Greater Dallas (CCCS of Greater Dallas), a nonprofit provider of free housing and credit counseling and education, announces it is now offering free reverse mortgage counseling. The agency received approximately $350,000 in combined grants from the U.S. Department of Housing and Urban Development (HUD) and the National Foundation for Credit Counseling (NFCC), which will provide the resources for CCCS of Greater Dallas to provide free counseling sessions throughout 2010.

“It is not only necessary but critical that consumers considering a reverse mortgage complete a counseling session before entering this type of loan,” said Linda Davis, housing director for CCCS of Greater Dallas. “Reverse mortgages can be perfect for some, but not ideal for everyone. We look forward to assisting more consumers with free counseling and helping them determine if they’re a good candidate for the loan.”

Some questions CCCS of Greater Dallas can answer include:

  • What are the eligibility requirements?
  • What are the rules of paying back a reverse mortgage?
  • How can one spend the payments from a reverse mortgage?

HUD requires that all lenders provide borrowers a list of nonprofit reverse mortgage counselors. In addition to being a provider of this counseling, CCCS of Greater Dallas was recently named a HUD Multi-State Organization (MSO). CCCS of Greater Dallas provides housing counseling across the country, including face-to-face counseling in Texas, Colorado, Oklahoma and New Mexico. CCCS of Greater Dallas was originally recognized as a HUD-approved housing agency in 1979, and has held its status since that time.

In addition to free reverse mortgage counseling, CCCS of Greater Dallas offers free foreclosure prevention, budget review and credit counseling sessions. The agency is currently teaching free tax preparation sessions in partnership with the United Way of Metropolitan Dallas, Girls Inc. and Ferguson Road Initiative several times a week through April 15. For more information on financial education and free debt seminars, contact CCCS of Greater Dallas at (800) 249-2227 or visit www.cccs.net.

About CCCS of Greater Dallas

Consumer Credit Counseling Service of Greater Dallas, Inc. is a nonprofit, community based credit counseling and debt management service. Established in 1974, CCCS of Greater Dallas and its affiliate offices provide financial education and counseling to consumers in-person, by phone, or Internet at more than 20 locations in four states. CCCS of Greater Dallas is a HUD-approved housing counseling multi-state organization and serves as one of eight counseling agencies supporting the 888-995-HOPE Hotline. The agency is also a member of the National Foundation for Credit Counseling (NFCC), the nation’s largest and longest serving national non-profit credit counseling network. To learn more about CCCS of Greater Dallas’ free seminars or the agency’s services, visit www.cccs.net.

Contacts

for CCCS of Greater Dallas
Emily Bruce, 972-499-6621
emily.bruce@hck2.com
or
Michelle Jones, 972-499-6618
michelle.jones@hck2.com

Release Summary

Consumer Credit Counseling Service of Greater Dallas, a nonprofit provider of free housing and credit counseling and education, announces it is now offering free reverse mortgage counseling.

Contacts

for CCCS of Greater Dallas
Emily Bruce, 972-499-6621
emily.bruce@hck2.com
or
Michelle Jones, 972-499-6618
michelle.jones@hck2.com