DVD and Website Helping Michigan Residents Avoid Foreclosure

LANSING, Mich., July 6, 2009 — Michigan’s credit unions are connecting struggling homeowners with the resources they need to avoid foreclosure. The “Right at Home” DVD and Web site, created in partnership with the United Way and the Michigan State University Extension (MSUE), give individuals access to a wealth of information regarding the steps to take when financial pressures threaten homeownership.

“Michigan’s continued job losses are hurting families across the state and nonprofit credit unions have stepped up to help struggling homeowners navigate the pitfalls and available tools to avoid foreclosure,” says David Adams, president and CEO of the Michigan Credit Union League (MCUL). “It’s in everyone’s best interests – lenders as well as borrowers – to keep families in their homes.”

Members can pick up a copy of the DVD by contacting a local credit union or United Way branch.

The DVD includes information about finding the right mortgage, budgeting for any situation and rebuilding credit after a foreclosure. Eight-thousand copies of the video will be distributed through credit unions, MSUE’s county offices, United Way’s agency offices and by state lawmakers. It features interviews with financial experts from The Mortgage Center, Member First Mortgage, GreenPath, United Way, MSUE and two credit unions. Three homeowners also share their stories about being helped to avoid foreclosure through personal housing counseling.

The Right At Home Web site features more detailed money management information and connects homeowners with a variety of programs that offer concrete assistance, free advice, and mortgage relief, including the U.S. Department of Housing and Urban Development, the Michigan State Housing Development Authority (MSHDA) and many others.

The video and Web site, produced by CU Village (a web design and multimedia subsidiary of the MCUL), was made possible in part by funding from a National Credit Union Foundation Innovation Grant.