LESS THAN ONE-QUARTER OF SURVEY RESPONDENTS AGREE WITH WALKING AWAY FROM AN UNDERWATER MORTGAGE

Silver Spring, MD – June 8, 2010 – (RealEstateRama) — If one were to rely solely on the headlines, he or she might be tempted to think that all mortgage-holders whose home loans were underwater were walking away from their mortgages and allowing the property to go into foreclosure. Admittedly, some do intentionally plan a strategic default, the term that refers to consumers who can afford to make their mortgage payment, but choose not to since the value of their home has decreased.


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Founded in 1951, the National Foundation for Credit Counseling (NFCC), Inc., promotes the national agenda for financially responsible behavior and builds capacity for its Members to deliver the highest quality financial education and counseling services. The NFCC is the nations largest and longest serving national nonprofit credit counseling network, with more than 100 Member agencies and nearly 850 offices in communities throughout the country.

Contact:

Gail Cunningham
Vice President for Public Relations
National Foundation for Credit Counseling
801 Roeder Road
Suite 900
Silver Spring, Maryland 20910

National Foundation for Credit Counseling
801 Roeder Road
Suite 900
Silver Spring, Maryland 20910

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