When the Center for Financial Health in Michigan started, the staff spent 80% of their time assisting people facing foreclosures.
That's now down to about 50%, as home buyer education becomes a major focus in a preventative approach to help people avoid mortgage problems. The statistics show some success. In 2012, 199 homes were saved compared to only 34 lost to bankruptcy.
The center is supported by several credit unions and the Michigan Credit Union League. At one time the center was housed at what is today Option One Credit Union, then moved to the league, but it's now an independent 501(c) 3 organization with its own offices in Lansing.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
