Treasury Secretary Geithner’s plan to “leverage and mobilize private capital” along with government funds to help take $500 billion worth of distressed assets off the balance sheets of the nation’s troubled banks did little to encourage the markets. The specifics of the Administration’s proposal have yet to be revealed, but, according to Christopher Viale, President of Cambridge Credit Counseling Corp., the plan reveals Geithner’s likely thinking about how his department intends to help the millions of homeowners facing foreclosure.
For Viale, whose “Home Sweet Home” initiative is designed to stave off the next wave of mortgage foreclosures and keep as many people in their homes as possible, Geithner’s approach will also, he hopes, be a public-private solution. “The problem is too big for government alone,” said Viale. “But until we see the specifics from Treasury on exactly how mortgage relief will work, I’m concerned that their approach might not go far enough. America needs a relief plan that provides options to homeowners beyond the group that is already in default. There are millions more Americans who are barely making their monthly payments.”
Viale should know. Cambridge Credit Counseling is a professional debt counseling organization that helps educate Americans on the importance of sound financial management. Cambridge, which has counseled well over 1.5 million consumers, is on the front lines of the country’s economic meltdown. Viale’s “Home Sweet Home” initiative hinges on a “50/40” concept: rewriting mortgages out to terms as long as 50 years and reducing the monthly payment by as much as 40%. The result would enable consumers in financial difficulty to meet their financial obligations – mortgage payments, credit cards, medical costs, establish personal savings and remain productive in the economy. "Preventing foreclosures and helping consumers pay their bills doesn’t just stabilize the economy, it’s a form of stimulus in itself,” said Viale.
Thursday, February 12, 2009
WAITING FOR GEITHNER: CAMBRIDGE CREDIT COUNSELING COMMENTS ON WHAT’S TO COME FOR MORTGAGE RELIEF
Monday, February 2, 2009
CAMBRIDGE CREDIT COUNSELING EMPLOYEES VOLUNTEER TO HELP EDUCATE SPRINGFIELD HIGH SCHOOL STUDENTS
Cambridge welcomes students participating in Junior Achievement’s Groundhog Job Shadow Day.
Cambridge Credit Counseling Corp. will serve as host to students from the Springfield, MA, public school system on February 3rd as part of the Groundhog Job Shadow Initiative. Job Shadow Day is the result of a collaborative effort by Junior Achievement and local businesses that is designed to introduce young people to a wide variety of professions, helping students prepare to join the workforce of the 21st century. Students “shadow” mentors through a normal workday – experiencing firsthand how skills learned in the classroom relate to the modern workplace.
Because Cambridge Credit Counseling’s core mission is to provide financial literacy, the agency’s Education Department will conduct its Keeping Money on Your Mind: Entering the American Economy seminar for all students in attendance, educating them on the importance of personal money management. In addition to discussing the nuances of personal finance, the seminar also address the mechanics of the job search, including successful interviewing strategies. The PowerPoint presentation used, complete with speaker notes, is available on Cambridge’s website for download by families, community groups and educational institutions. Please click here to download http://www.cambridge-credit.org/keepingmoneyonyourmind.ppt
“Cambridge is honored to be hosting yet another Job Shadow Day, and we’re happy to help educate students about the workforce,” remarked Christopher Viale, president of Cambridge Credit Counseling Corp. “Junior Achievement does wonderful work, and they deserve the support of everyone in our local business community. We welcome the opportunity to share our experience and expertise on their behalf.”
ABOUT CAMBRIDGE CREDIT COUNSELING CORP.
Cambridge Credit Counseling Corp. is a professional debt counseling agency, dedicated to educating young adults on the importance of sound financial management and to providing financially distressed Americans with education and debt management services appropriate to their needs. For more information on this article or to schedule an interview, please call 413-821-6919.
Visit Cambridge Credit Counseling Corp. online at www.cambridgecredit.org. To learn more about Cambridge in the community, please visit http://www.cambridgecredit.org..
Cambridge Credit Counseling Corp. will serve as host to students from the Springfield, MA, public school system on February 3rd as part of the Groundhog Job Shadow Initiative. Job Shadow Day is the result of a collaborative effort by Junior Achievement and local businesses that is designed to introduce young people to a wide variety of professions, helping students prepare to join the workforce of the 21st century. Students “shadow” mentors through a normal workday – experiencing firsthand how skills learned in the classroom relate to the modern workplace.
Because Cambridge Credit Counseling’s core mission is to provide financial literacy, the agency’s Education Department will conduct its Keeping Money on Your Mind: Entering the American Economy seminar for all students in attendance, educating them on the importance of personal money management. In addition to discussing the nuances of personal finance, the seminar also address the mechanics of the job search, including successful interviewing strategies. The PowerPoint presentation used, complete with speaker notes, is available on Cambridge’s website for download by families, community groups and educational institutions. Please click here to download http://www.cambridge-credit.org/keepingmoneyonyourmind.ppt
“Cambridge is honored to be hosting yet another Job Shadow Day, and we’re happy to help educate students about the workforce,” remarked Christopher Viale, president of Cambridge Credit Counseling Corp. “Junior Achievement does wonderful work, and they deserve the support of everyone in our local business community. We welcome the opportunity to share our experience and expertise on their behalf.”
ABOUT CAMBRIDGE CREDIT COUNSELING CORP.
Cambridge Credit Counseling Corp. is a professional debt counseling agency, dedicated to educating young adults on the importance of sound financial management and to providing financially distressed Americans with education and debt management services appropriate to their needs. For more information on this article or to schedule an interview, please call 413-821-6919.
Visit Cambridge Credit Counseling Corp. online at www.cambridgecredit.org. To learn more about Cambridge in the community, please visit http://www.cambridgecredit.org..
Wednesday, January 14, 2009
CAMBRIDGE CREDIT COUNSELING CORP. ANNOUNCES SEMINAR SERIES, LEARNING TO RUN THE BUSINESS CALLED YOUR LIFE
New financial literacy seminars focus on preparing for economic challenges in 2009.
The year 2008 will likely go down in history as one of the most financially trying in generations. Over the last twelve months, Americans have seen dramatic increases in foreclosure and jobless rates, the erosion of pension plans and retirement savings, and a government opting for unprecedented remedies to prevent further damage. Unfortunately, 2009 looks as if it will be just as challenging. In an effort to provide critical financial education on both the local and national scale, Cambridge Credit Counseling Corp. will hold a series of seminars to help people better prepare themselves and their families to meet the difficulties they may face in the coming year.
On January 15, 2009, Cambridge will hold the first installment in this year's series -- Learning to Run the Business Called Your Life. Part one will focus on developing strategic plans to ensure long-term financial success. Among the topics discussed will be creating a practical spending plan, establishing an adequate emergency savings fund, and eliminating debt.
“Decreased access to credit, a struggling job market and the prospect of a worsening economy means that we all have to develop a more aggressive strategy toward our finances,” warns Christopher Viale, President of Cambridge Credit Counseling Corp. “If we’ve learned anything from 2008, it’s that a lifestyle built on credit, and not savings, can be disastrous. We owe it to ourselves and our families to adopt a new philosophy in 2009.”
All seminars are offered for free to the public and will be held at Cambridge’s offices, located at 67 Hunt Street, Agawam, MA. Each session is scheduled to run from 5:30 - 7:00 PM, and a full listing of dates is available on Cambridge’s website, www.goodpayer.com. The organization understands that it may be geographically impossible for everyone interested to attend, so a PowerPoint presentation, complete with speaker notes, will also be available for download the day after each seminar. Families, community groups, and educational institutions are encouraged to use the information provided. For more information about Cambridge's seminars, please call the agency’s Director of Education, Martin Lynch, at 413-241-2401.
The year 2008 will likely go down in history as one of the most financially trying in generations. Over the last twelve months, Americans have seen dramatic increases in foreclosure and jobless rates, the erosion of pension plans and retirement savings, and a government opting for unprecedented remedies to prevent further damage. Unfortunately, 2009 looks as if it will be just as challenging. In an effort to provide critical financial education on both the local and national scale, Cambridge Credit Counseling Corp. will hold a series of seminars to help people better prepare themselves and their families to meet the difficulties they may face in the coming year.
On January 15, 2009, Cambridge will hold the first installment in this year's series -- Learning to Run the Business Called Your Life. Part one will focus on developing strategic plans to ensure long-term financial success. Among the topics discussed will be creating a practical spending plan, establishing an adequate emergency savings fund, and eliminating debt.
“Decreased access to credit, a struggling job market and the prospect of a worsening economy means that we all have to develop a more aggressive strategy toward our finances,” warns Christopher Viale, President of Cambridge Credit Counseling Corp. “If we’ve learned anything from 2008, it’s that a lifestyle built on credit, and not savings, can be disastrous. We owe it to ourselves and our families to adopt a new philosophy in 2009.”
All seminars are offered for free to the public and will be held at Cambridge’s offices, located at 67 Hunt Street, Agawam, MA. Each session is scheduled to run from 5:30 - 7:00 PM, and a full listing of dates is available on Cambridge’s website, www.goodpayer.com. The organization understands that it may be geographically impossible for everyone interested to attend, so a PowerPoint presentation, complete with speaker notes, will also be available for download the day after each seminar. Families, community groups, and educational institutions are encouraged to use the information provided. For more information about Cambridge's seminars, please call the agency’s Director of Education, Martin Lynch, at 413-241-2401.
Subscribe to:
Posts (Atom)
Posts
