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Updated: 1:28 AM Jul 15, 2008
Struggling Mortgage Giant Has Tri-State Presence
Struggling mortgage lending giant Freddie Mac has invested nearly $9 billion in West Virginia home loans, helping nearly 90,000 families.
Posted: 7:41 PM Jul 14, 2008Reporter: Carrie Cline Email Address: carrie.cline@wsaz.com |
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HUNTINGTON, W.Va. (WSAZ) – Struggling mortgage lending giant Freddie Mac has invested nearly $9 billion in West Virginia home loans, helping nearly 90,000 families.
In Ohio, Freddie Mac invested more than $140 billion, helping more than a million families, while it invested more than $43 billion in Kentucky, serving more than 430,000 families.
Regardless of what mortgage companies are being discussed, more consumers are struggling to pay their bills.
A local spokesperson with Consumer Credit Counseling said, on average, they counsel about 350 people a month. Normally, only about 30 of those sessions deal with mortgages. During the last month, nearly 100 people requested help paying their mortgage.
Jeff Wise said if you're running behind on a payment, you need to seek help immediately. More and more mortgage companies are helping customers by reducing interest rates or forgiving past due amounts.
If you need assistance, you can call consumer credit counseling at 800-281-5969 or by going to this site:
http://cccswv.com
Latest Comments
I'm sure these same people with "Mortgage Trouble" are wasting money on cars, eletronics, and entertainment they don't need. I think this alledged bad economy and tough time has been created by and continued to be spread by rumor and nothing substantial. The media make a big deal over minor things. Wake up and use your money wisely!
Here are some simple things to follow: 1. Cut up the credit cards! Pay with CASH. When you feel the pain & see "Ben" leave your hand, you will spend less. 2. Always pay your "4 walls" 1st: house, food, utilities, transportation to work. While getting out of debt, sell the vehicle with the high monthly payment. Get a cheap used one. When you are out of debt, pay cash for one (Save $500/mo.x 10= $5000 car. Repeat for another 10 mos and trade up to a $10,000 one.) The top 400 $$ people in US advise never use a credit card, never have a car payment & WORK. Do rich people things=get rich. Do poor people things=stay poor. 3. Sell STUFF. 4. Get a 2nd job. 5. Get a budget. 6. Follow these baby steps: 1. Get an emergency fund of $1000 in the bank. 2. Do a debt snowball. 3. Get 3-6 months expenses in the bank to beef up the $1000. 4. Invest 15% of income. 5. College funding 6. Pay off home early 7. Build wealth and give! If you live like no one else now, later you get to LIVE like no one else!
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