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Consumer Agency Shifts Away From Foreclosures

When the Center for Financial Health in Michigan started, the staff spent 80% of their time assisting people facing foreclosures.

By Eileen M. Courter | Updated on July 31, 2013
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.

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