American Consumer Credit Counseling Offers Tips on Paying a Mortgage

Your lender has probably already experienced what you are struggling with, and wants to help you to make successful payments.

Properly managing, monitoring and paying a mortgage can seem like a daunting task. If you are having trouble paying your mortgage, you are not alone. Many Americans are facing this same problem and mortgage companies are very familiar with this situation. This financial tool was designed to benefit consumers, and with the right information and aid, getting on track with mortgage payments is possible. To help consumers with the process, national nonprofit American Consumer Credit Counseling has provided several tips on paying a mortgage.

“Mortgage lending is one of the most fundamental and useful functions of a bank,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “Your lender has probably already experienced what you are struggling with, and wants to help you to make successful payments. Do not be intimidated by looking outside of your bank for help as well; make sure you make use of all the resources available.”

According to a survey by Bankrate, 37 percent of respondents said that the size of their mortgage has a major impact on their ability to save for the future. There was a divide between respondents who are parents and those who are childless: 51 percent of respondents with children said their mortgage has a major impact on savings, and only 27 percent of everyone else said their mortgage has a major impact on savings.

American Consumer Credit Counseling offers tips on paying your mortgage:

1.    Stay informed – Make sure you are up-to-date with your personal finance knowledge, especially regarding the mortgage in question. Use tools…

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