CAMBRIDGE CREDIT COUNSELING LAUNCHES KEEPYOURHOME.US TO PROMOTE ALTERNATIVE TO OBAMA HOUSING PROGRAM

Website details Cambridge’s Home Sweet Home initiative to aid the ailing economy.

It’s been more than one month since the Obama administration announced the U.S. Treasury Department's Making Home Affordable program. While that initiative has its merits, many believe that it falls short of offering struggling homeowners the help they desperately need. In an effort to promote awareness of its Home Sweet Home alternative, Cambridge Credit Counseling announced today that it has recently launched a new website, keepyourhome.us. The organization’s Home Sweet Home plan achieves economic stability by directly addressing problems in the housing sector.

“Home Sweet Home has created a buzz in the credit counseling industry, and its merits are easily understood,” noted Christopher Viale, Cambridge’s president and CEO. “Our goal with the keepyourhome.us website is to generate support. Anyone who visits the site will see the initiative for what it is – an alternative that will help more homeowners than the current housing recovery plans in existence.”

Economists and analysts alike predict that prices in the housing market may decline by another 20 percent before they level off, and that nearly half of all homeowners will owe more on their mortgages than the current value of their homes. Some economists theorize that the housing market will need at least another three years to achieve price stability. Therefore, programs offering assistance should be structured to anticipate the future needs of homeowners.

The following is a brief overview of the progress that could be achieved through the Home Sweet Home initiative.

In the short-term, homeowners would gain the financial relief they desperately need, while in the long-term, restructured loans would help stabilize markets as these formerly toxic assets performed successfully.

The significant monthly savings to homeowners would allow for an infusion of cash into the economy, as consumer spending would undoubtedly increase.

Banks would avoid significant foreclosure costs and avoid having a backlog of homes to sell.

The restoration of real value to suspect or worthless loans would help free up the credit market and inspire consumer and investor confidence.

American families would be freed from the anxiety that is paralyzing our economy.

To view a brief social media introduction to keepyourhome.us, please visit the following link Obama's Housing Program: One Month Later.

AMERICAN CONSUMERS HELPED BY CAMBRIDGE CREDIT COUNSELING TELL THEIR STORIES

Credit counseling participants reveal how the economy has changed their lives.

Tremendous losses in 401(k) balances, historic numbers of foreclosures, and increasing credit card rates – it all sounds like a Hollywood screenplay about a financial apocalypse, but this is the reality that millions of Americans are experiencing today. Last week, Cambridge Credit Counseling president Christopher Viale reached out to a sampling of the tens of thousands of consumers his agency has counseled over the last six months, encouraging them to share their stories. Dozens responded, revealing how the economy has dramatically altered their lives. Many of these consumers would welcome the opportunity to speak with the media.

“The initial purpose of this outreach was to demonstrate that not enough is being done to help millions of hardworking Americans, and that we have a solution, Home Sweet Home, that deserves serious consideration,” stated Christopher Viale, President and CEO of Cambridge Credit. “In response, we received a number of very moving accounts from everyday people who will continue to struggle, despite the administration’s efforts.”

Cambridge sent the following message to individuals who had previously reached out to the agency for counseling.

“Over the last few weeks, our Home Sweet Home initiative has generated a good deal of interest in the news media. Within that time, I have worked to gain support for the initiative and to create awareness about the financial strain many of you and your loved ones may be experiencing. On St. Patrick's Day, I traveled to Manhattan to speak with reporters about the reforms we are championing, as well as the services Cambridge provides every day.

Several reporters have requested to speak with you, our clients. Specifically, the media would like to interview people who have experienced any of the following circumstances:

• The inability to qualify for the Obama Administration's housing program
• The inability to understand the requirements of the Obama Administration's housing program
• A reduction in your credit limit on your credit card(s), resulting in diminished credit scores, higher interest rates, and/or reduced access to credit
• The inability to maintain payments as a result of changes to the terms of your credit card account(s)
• Overtime, bonus or other wage reductions that resulted in difficulty keeping up with increases in the cost of living

If you've experienced any of these situations, please send me an e-mail outlining your circumstances. My address is cviale@cambridgecredit.org. I will read each and every one of your responses and do my very best to reply to you in a timely fashion. Additionally, I will share some of your stories with the reporters who reached out to us for information. Some members of the media may wish to conduct a brief telephone interview with you, so please indicate your willingness to speak about your circumstances, as well as the best time and telephone number to reach you, if you'd like to participate. I will provide you with advance notice in the event that your story is chosen.

I thank you in advance for your time and effort in helping us to bring focus upon the issues that are affecting you most in these trying economic times. Your participation is greatly appreciated and will help provide insight into the plight of struggling Americans.”

If you are writing a story about how the economy is affecting everyday people and wish to speak with any of those who responded to Cambridge’s query, please contact Christopher Viale at 413-821-6919 or cviale@cambridgecredit.org.

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 http://www.cambridgecredit.org/. To learn more about Cambridge and the community, visit www.youtube.com/CambridgeCredit.

CAMBRIDGE CREDIT OFFERS NEW ONLINE EDUCATION TO HELP CONSUMERS THROUGH THE ECONOMIC CRISIS

Your Money 2.0 launches this week offering expert advice on financial challenges.

With more than 200 million Americans active on the Internet, Cambridge Credit Counseling is increasing its online education efforts. This week, Cambridge launches its new online news program, Your Money 2.0. The weekly program will highlight the most relevant financial stories of the day, and provide insight as to how these events may affect the average consumer. In addition, Your Money 2.0 will focus on the very best financial tools available online so consumers can be as informed as possible when making financial decisions. Personal finance websites, blogs, and other important Internet resources will be among the topics regularly featured on the program.

“The Internet connects the world, and it is becoming a fantastic medium to provide financial education,” noted Christopher Viale, president and CEO of Cambridge Credit Counseling Corp. “Cambridge’s Your Money 2.0 will have the ability to reach a mass audience and help empower individuals to regain control of their money.”

The program builds off Cambridge’s successful Learn Now or Pay Later webisodes, which were released throughout 2008. Your Money 2.0’s weekly format will allow for a more immediate delivery of pertinent education, helping ordinary consumers manage their finances as the country suffers through its worst economic downturn since the Great Depression.

Weekly programs will be available on the company’s YouTube page, and will be offered for free to financially themed sites across the Internet. Anyone interested in learning more about Your Money 2.0 should contact Thomas Fox, Community Outreach Director, at 413-241-2362 or via e-mail at tfox@cambridgecredit.org. Subscriptions to releases are available at the company’s YouTube page.

To view a Your Money 2.0 promotional package, please visit www.youtube.com/CambridgeCredit.

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 http://www.cambridgecredit.org/. To learn more about Cambridge and the community, please visit www.youtube.com/CambridgeCredit.