DollarWise Resource Book, 2006–07

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Founding Sponsor

U.S. CONFERENCE OF MAYORS COUNCIL FOR THE NEW AMERICAN CITY

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An Easy Guide to Buying a Home COUNTRYWIDE FINANCIAL | An informational booklet for potential homebuyers on the steps to purchasing a home. Tips include how to find a real estate professional, common real estate terms, types of loans, and how to make an offer on a property.

AVAILABILITY Booklet available in English or Spanish 50 complimentary copies per city

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CONTACT House America Counseling Center 1.800.577.3732 (English) | 1.800.293.6316 (Spanish) www.wehouseamerica.com

The Countrywide Home Buyers Club COUNTRYWIDE FINANCIAL | The House America Counseling Center offers the Countrywide Home Buyers Club. It is a no cost program to assist customers who are determined and committed to buying a home. Customers are provided education in budgeting, credit counseling and other steps that may be necessary to help prepare for homeownership.

AVAILABILITY Brochure and education materials available in English or Spanish 50 complimentary copies per city

CONTACT House America Counseling Center 1.800.577.3732 (English) | 1.800.293.6316 (Spanish)

Home Affordability Chart COUNTRYWIDE FINANCIAL | A calculator to determine how much you can afford to pay for a home based on your yearly income, the amount of your down payment, and your interest rate. To access the calculators, please visit the Web site below.

AVAILABILITY Chart available in English only 50 complimentary copies per city

CONTACT House America Counseling Center 1-800-577-3732 (English) | 1-800-293-6316 (Spanish) www.countrywide.com/calculators/CalcCombined.asp

House America Counseling Center COUNTRYWIDE FINANCIAL | Toll-free number potential homebuyers can call for home buyer education information, loan pre-qualification, credit analysis, and budget counseling through the Countrywide Home Buyers Club Program.

CONTACT House America Counseling Center 1.800.577.3732 (English) | 1.800.293.6316 (Spanish) www.wehouseamerica.com/resource.html

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Your Personal Credit COUNTRYWIDE FINANCIAL | An informational booklet for all consumers on credit, credit reports, and how credit is reported. It also includes information on how to dispute information on a credit report as well as sample correspondence.


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RS CONTACT House America Counseling Center 1.800.577.3732 (English) 1.800.293.6316 (Spanish) www.wehouseamerica.com/documents/YourPersonalCredit.pdf

A Consumer’s Guide to Mortgage Lock-Ins FEDERAL RESERVE SYSTEM | Explains mortgage lock-ins, including costs and options. Provides consumer checklist of questions to ask when shopping for a loan.

CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/lockins

A Consumer’s Guide to Mortgage Settlement Costs FEDERAL RESERVE SYSTEM | Explains the fees associated with mortgage settlement. Provides information about the settlement process, a cost worksheet, and sources for additional information.

CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/settlement

Consumer Handbook on Adjustable-Rate Mortgages (ARM) Guía para el consumidor sobre hipotecas a tasa ajustable FEDERAL RESERVE SYSTEM | Basic information on an important and complex mortgage option.

AVAILABILITY English and Spanish

CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/arms/arms_english.htm www.federalreserve.gov/pubs/arms/arms_spanish.htm

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Home Mortgages: Understanding the Process and Your Right to Fair Lending FEDERAL RESERVE SYSTEM | Guidance on shopping for a home mortgage, making an application, and understanding your rights to fair lending.

CONTACT Lynn S. Fox | 202.452.2290 HO

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www.federalreserve.gov/pubs/mortgage/morbro.htm

Looking for the Best Mortgage: Shop, Compare, Negotiate Buscando la hipoteca más favorable: Compare, Verifique, Negocie

FEDERAL RESERVE SYSTEM | Guidance on identifying all the costs of your mortgage and negotiating the best loan terms.


CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/mortgage/mortb_1.htm www.federalreserve.gov/pubs/mortgage/MortB_1_Spanish.htm

Putting Your Home Loan on the Line Is Risky Business Utilizar su hogar como garantía para un préstamo es arriesgado FEDERAL RESERVE SYSTEM | Guidance on avoiding potential borrowing pitfalls, including high-cost “predatory” home loans, and tips for getting the best financing deal possible. Includes a worksheet to use in shopping for a home loan.


CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/riskyhomeloans www.federalreserve.gov/pubs/riskyhomeloans/riskyspanish.htm

What You Should Know about Home Equity Lines of Credit Lo que usted debería saber sobre las líneas de crédito con

garantía hipotecaria FEDERAL RESERVE SYSTEM | Information on home equity lines of credit; includes a glossary of terms and a checklist to use in shopping for a plan.


CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/equity/equity_english.htm www.federalreserve.gov/pubs/equity/equity_spanish.htm


InCharge Guide to Homeownership INCHARGE EDUCATION FOUNDATION, INC. | The InCharge Guide to Homeownership is a practical, easy-to-understand guidebook for potential homebuyers who have little or no experience with homeownership. This manual is designed for easy self-paced study. Readers start with a pre-test to gauge their level of knowledge about owning a home, then they move into the various important topics about the home buying process.

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RS AVAILABILITY For up to 20 free books, call (407) 532-5606.

CONTACT Ginny Moore, (407) 532-5606

MBA’s Home Loan Learning Center MORTGAGE BANKERS ASSOCIATION | A Web site that will provide consumers with information and resources necessary to learn about the home buying process. It will offer the consumer an explanation about how the home buying process works; home buying tips and online links to home buying guides. The site will also provide an explanation of consumers’ rights, contains calculators to help consumers make decisions about what type of mortgage they can obtain and afford and provides the means for a consumer to ask an expert—a Certified Mortgage Banker—questions about the home buying process. It offers the consumer a free online course entitled “Consumer Homebuyer Education: Home Buying Basics” that covers such topics as: budget development, understanding credit, selecting a home, evaluating mortgage products, preparing a mortgage application, procedures at closing and how to avoid predatory lenders. A free seminar is also available for consumers to listen to and participate in a presentation delivered via the telephone about the importance of good credit and how to better improve their credit score. The Home Loan Learning Center is a tool that you can use to educate your constituents about homeownership opportunities in your communities.

AVAILABLE Web site and course in English and Spanish

CONTACT Paul Richman | 202.557.2899 www.homeloanlearningcenter.com

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MBA’s Resource Center for Expanding Homeownership MORTGAGE BANKERS ASSOCIATION | The Resource Center for Expanding Homeownership is a Web site designed to provide industry professionals with resources that will assist them in meeting the needs of emerging market borrowers across the country. Lenders, other real estate finance professionals, nonprofit agencies and government agencies in your community can find information about the following areas:

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Consumer Education, a tool kit for successfully conducting homebuyer fairs and other consumer education efforts.

Best Practices that provide models of successful partnerships. Partnership Opportunities providing directories of potential partners including

public, private, and nonprofit agencies involved in housing at the local, state, and national level.

Products and Programs providing innovative approaches to expanding homeownership.

Research Resources and Library which assist in assessing market opportunities.

CONTACT Paul Richman | 202.557.2899 www.mortgagebankers.org/homeownership

Stop Mortgage Fraud Consumer Education Campaign MORTGAGE BANKERS ASSOCIATION | A financial literacy program that gives consumers three important tools they can use to help prevent them from being subject to predatory lending practices: A Borrower’s Bill of Rights, which provides a detailed listing of consumer

rights during the mortgage transaction from the first contact with a lender/broker to the closing of the loan.

The Ten Warning Signs of Predatory Lending, which lists the 10 common warning signs of predatory lending. These signs include everything from being asked to leave signature lines blank to being encouraged to include false information on a loan application.

Where to Report Suspected Predatory Lending, consumers can either visit the Web site or call 1.800.348.3931 to get information on what steps to take to file a complaint. Consumers calling the 800 number will receive a brochure that contains information also found on the Web site.

AVAILABILITY English, Spanish, and Arabic

CONTACT Paul Richman | 202.557.2899 www.stopmortgagefraud.com


WOW Initiative with the Congressional Black Caucus Foundation

MORTGAGE BANKERS ASSOCIATION | NATIONAL URBAN LEAGUE | For minority homebuyers—education and products from partners including MBA, Freddie Mac, HUD, and NUL. The program promotes homeownership as a means to obtain wealth by having equity in a home. Also has information on credit counseling from the National Foundation for Credit Counseling.

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CONTACT Paul Richman | 202.557.2899 www.cbcfinc.org/Economic%20Development/WOW

Specialty Mortgages: What Are the Risks and Advantages? NATIONAL ASSOCIATION OF REALTORS | The National Association of Realtors and the Center for Responsible Lending created an educational brochure titled “Specialty Mortgages: What are the Risks and Advantages?” to help prospective buyers make an informed decision about the kind of home financing that is best for them. In many housing markets, home prices have risen to very high levels, making it harder to afford a home—especially for first-time homebuyers. A growing number of homebuyers are deciding to use one of several new types of specialty mortgages that let them “stretch” their income so they can qualify for a larger loan. This brochure will help them assess the risks and advantages of interest-only, negative amortization, payment option ARM, and 40-year mortgages.

AVAILABILITY Mayors can receive 10 copies each free of charge, or purchase more brochures at cost through this Web site.

To download the brochure, go to the Web site.

CONTACT Erika Ruiz, Housing Opportunity Program 202.383.1079 | [email protected]

www.realtor.org/housopp.nsf/pages/SpecialtyMortgages

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Credit Compass Classroom Edition INCHARGE EDUCATION FOUNDATION, INC. | Facilitating the use of Credit Compass in the classroom, this set of products presents student activities related to the educational content of the Credit Classroom guide/CD/Web which can be used by students as a learning tool. A teacher’s guide also is included to help the teacher lead the learning exercise.

AVAILABILITY Up to 20 free copies, call 1.877.617.7989

CONTACT Ginny Moore | 407.532.5606 www.creditcompass.com

Young Money INCHARGE EDUCATION FOUNDATION, INC. | Young Money® delivers a unique blend of money, business and lifestyle that informs, engages and inspires its 18- to 24-year-old audience. A recognized brand at several major college campuses across the country, Young Money leads the market as an authority for young adults through a bi-monthly magazine, colorful Web site, and exciting live on-campus events.

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AVAILABILITY For free teacher’s guides, student study guides and worksheets, and up to 20 free one-year magazine subscriptions, call 1.888.436.8714.

CONTACT Nyde Morales | 407.532.5542 www.youngmoney.com

Young Money Classroom Edition INCHARGE EDUCATION FOUNDATION, INC. | Young Money® Classroom Edition brings Young Money magazine to the high school classroom in the form of bulk subscriptions at a discount. A class set consists of 20 subscriptions of Young Money (six issues each) and a four-page Leader’s Guide with each issue. A special Classroom Edition with worksheet exercises and related articles is available at on the Web site.

AVAILABILITY For up to 20 free copies, call 1.888.436.8714.



The Three Little Pigs: A Financial Fairy Tale NATIONWIDE RETIREMENT SOLUTIONS | Nationwide Retirement Solutions believes in Retirement Education for Life. They are also very concerned about the statistics surrounding children’s financial education. Development of The Three Little Pigs: A Financial Fairy Tale is designed to be one step toward helping children build a natural curiosity about financial planning at an early age. Nationwide has adapted the well-known children’s fairy tale into a modern-day financial lesson that teaches children the importance of balancing their spending, saving and sharing. Spending Pig, Stingy Pig, Smart Pig and Mr. B.B. Wolfe are the stars in the story that follows the 3 pigs as they manage and mismanage their money. The full-color storybook, workbook full of suggested activities and other information can be downloaded from the Web site. These materials can be shared in classrooms, with youth groups, or as part of the curriculum for Take a Child to Work Day. In recognition of the excellence of The Three Little Pigs program, The U.S. Conference of Mayors and Nationwide Retirement Solutions received a 1st Place 2005 Eddy Award from Pensions & Investments/Workforce Management.

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TS CONTACT Linda W. Barber | 614.854.8895 www.nationwidekids.com

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AVAILABILITY Booklet available in English or Spanish 50 complimentary copies per city.

CONTACT House America Counseling Center 1.800.577.3732 (English) | 1.800.293.6316 (Spanish) www.wehouseamerica.com/documents/YourPersonalCredit.pdf

Choosing a Credit Card FEDERAL RESERVE SYSTEM | Describes credit card features and costs, including information in credit card solicitations and applications. Provides guidance on how to file a complaint.

CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/shop

Consumer Handbook to Credit Protection Laws FEDERAL RESERVE SYSTEM | Explains how to shop for and obtain credit, how to maintain a good credit rating, how to dispute unfair credit transactions, and how to resolve billing errors.

CONTACT Lynn S. Fox | 202.452.2290 CREDIT

www.federalreserve.gov/pubs/consumerhdbk

Credit Guide FEDERAL RESERVE SYSTEM | This guide is designed to help you get a good start, avoid hazards, and know where to go and what to do if you have problems when using credit.

CONTACT Lynn S. Fox | 202.452.2290 www.chicagofed.org

How to Establish, Use, and Protect Your Credit FEDERAL RESERVE SYSTEM | Credit is an important financial tool, but it can also be dangerous, leading people into debt far beyond their ability to repay.

CONTACT Lynn S. Fox | 202.452.2290 www.phil.frb.org


Your Credit Report FEDERAL RESERVE SYSTEM | It used to be that a retailer or bank would have to call each creditor you listed on an application form before they would decide to extend credit to you. Today they rely on credit reports, so it’s important for you to know what is in yours.

CONTACT Lynn S. Fox | 202.452.2290 www.frbsf.org

Your Credit Rights FEDERAL RESERVE SYSTEM | You need to understand how credit is awarded or denied and what you can do if you are treated unfairly. The major laws that regulate credit are outlined in this brochure.


Credit Booster INCHARGE EDUCATION FOUNDATION, INC. | An acceptable credit score is crucial in qualifying for low interest rates on a mortgage, car loan and many other items. Yet many consumers have never seen their credit report and don’t understand the importance of their credit score. Credit Booster is a workbook designed to provide consumers with critical information on credit reports, credit scoring and related topics.

AVAILABILITY For up to 20 free workbooks, call 407.532.5606

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CONTACT Ginny Moore | 407.532.5606

Credit Booster 2nd Edition INCHARGE EDUCATION FOUNDATION, INC. | The Credit Booster workbook is designed to provide consumers with information on credit scoring, credit problems, credit repair and related topics. Users learn about the importance of their credit score and how the score is determined. Credit Booster also shows readers how to order credit reports from credit bureaus, understand the information, find and fix errors, and take steps to rebuild damaged credit. A Spanish-language version of Credit Booster also has been released.

AVAILABILITY English and Spanish For up to 20 free workbooks, call 407.532.5606.


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Credit Compass INCHARGE EDUCATION FOUNDATION, INC. | Credit Compass helps individuals and organizations tackle the problem of financial illiteracy. This award-winning program consists of seven independent learning modules, each focused on a specific aspect of personal finance such as goal setting, budgeting, credit card basics and credit reports. It is available in three versions: Web-based, CD-ROM and a book.

AVAILABILITY English and Spanish For up to 500 free Web version user names and passwords, up to

50 free CDs, or up to 20 free books, call 1.877.617.7989.


Credit Compass Classroom Edition INCHARGE EDUCATION FOUNDATION, INC. | Facilitating the use of Credit Compass in the classroom, this set of products presents student activities related to the educational content of the Credit Classroom guide/CD/web which can be used by students as a learning tool. A teacher’s guide also is included to help the teacher lead the learning exercise.

AVAILABILITY For up to 20 free copies, call (877) 617-7989.


InCharge Educational Outreach

CREDIT

INCHARGE EDUCATION FOUNDATION, INC. | InCharge Education Foundation hosts a series of free educational workshops in cities across the country on a range of personal finance topics, including Credit and Debt Management, Creating a Spending Plan and Managing Family Finances, Home-buying Education, and Woe Is Me: Credit, Credit Cards & Debt Collections. InCharge also is working with the Conference of Mayors’ Council for the New American City to enhance the financial literacy of city residents through an educational program delivered via community/neighborhood organizations. InCharge has developed an effective workbook that can be used by facilitators in city environments, as well as a Train-the-Trainer program for program facilitators.



InCharge Guide to Debtor Education INCHARGE EDUCATION FOUNDATION, INC. | The InCharge Guide to Debtor Education is designed to guide people who file for bankruptcy toward improved management of their financial activities in the future and overall enhancement of their credit health. The goal in this step-by-step process is to stimulate the involvement of each individual in planning and working toward his or her financial wellness.

AVAILABILITY For up to 20 free books, call 407.532.5606


InCharge Hispanic products INCHARGE EDUCATION FOUNDATION, INC. | InCharge Education Foundation has released Spanish-language versions of some of its flagship publications, including Credit Booster and Credit Compass. Also, Dinero Hispano is a Spanish-language personal finance education website offering a range of programs tailored to meet the specialized financial literacy needs of the growing Hispanic community. It provides information on budgeting, financial planning, avoiding bankruptcy, understanding credit reports and the wise use of credit cards.

AVAILABILITY For up to 20 free books, call (407) 532-5606.

CONTACT Ginny Moore | 407.532.5606 www.dinerohispano.com www.hispanicmoney.com

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AVAILABILITY Booklet available in English or Spanish GEN

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50 complimentary copies per city.

CONTACT House America Counseling Center 1.800.577.3732 (English) | 1.800.293.6316 (Spanish) www.wehouseamerica.com/documents/YourPersonalCredit.pdf

Bank Products FEDERAL RESERVE SYSTEM | Provides an overview of deposits, mutual funds, and annuities.


Building Wealth FEDERAL RESERVE SYSTEM | A beginner’s guide to securing your financial future.

CONTACT Lynn S. Fox | 202.452.2290 www.dallasfed.org

Checkbooklet FEDERAL RESERVE SYSTEM | This brochure is intended to summarize the advantages and the risks involved in writing and receiving checks. It provides some basic information about checking accounts, special types of checks, and the check collection system.

AVAILABILITY Online only

CONTACT Lynn S. Fox | 202.452.2290 www.frbatlanta.org

Credit and Charge Cards FEDERAL RESERVE SYSTEM | Explains the difference between credit cards and charge cards as well as disclosure information.



Identity Theft FEDERAL RESERVE SYSTEM | This booklet is designed to help you understand what identity theft is, how it happens, how to protect yourself, and what steps to take if your identity is stolen.

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S CONTACT Lynn S. Fox | 202.452.2290 www.bos.frb.org

Making Sense of Savings FEDERAL RESERVE SYSTEM | Describes the various types of accounts available at depository institutions.

CONTACT Lynn S. Fox | 202.452.2290

Privacy Choices for Your Personal Financial Information FEDERAL RESERVE SYSTEM | Guidance for consumers on making informed choices about whether to allow their personal financial information to be shared.

CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov

Protecting Yourself from Overdraft and Bounced-Check Fees Protejase de los cargos por cheques rebotados y sobregiros FEDERAL RESERVE SYSTEM | Explains courtesy overdraft-protection, or bounce coverage, plans, and the costs involved. Provides guidance on how to avoid overdraft fees.


CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov/pubs/bounce www.federalreserve.gov/pubs/bounce/bouncespanish.htm

Purchase Options for Consumers FEDERAL RESERVE SYSTEM | When you make a purchase, should you use cash, check, a credit card, debit card, your computer, or an automatic payment? Which way is best? To make a good decision, it’s important to think about your options.

CONTACT Lynn S. Fox | 202.452.2290 www.chicagofed.org

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There’s a Lot to Learn About Money FEDERAL RESERVE SYSTEM | Learn how to make informed decisions about managing your money.

CONTACT Lynn S. Fox | 202.452.2290 www.federalreserveeducation.org G

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Credit Compass INCHARGE EDUCATION FOUNDATION, INC. | Credit Compass helps individuals and organizations tackle the problem of financial illiteracy. This award-winning program consists of seven independent learning modules, each focused on a specific aspect of personal finance such as goal setting, budgeting, credit card basics and credit reports. It is available in three versions: Web-based, CD-ROM and a book.

AVAILABILITY English and Spanish For up to 500 free Web version user names and passwords, up to

50 free CDs, or up to 20 free books, call 1.877.617.7989.




CONTACT Ginny Moore | 407.532.5606 www.dinerohispano.com | www.hispanicmoney.com

Mind Your Finances INCHARGE EDUCATION FOUNDATION, INC. | For those seeking to achieve a higher quality of life, Mind Your Finances offers a fresh perspective on everyday family finances. Available through a series of booklets and a Web site, it provides practical, effective information on budgeting, managing cash flow, interpreting credit reports, using credit wisely, understanding bankruptcy and much more.


CONTACT Ginny Moore | 407.532.5606 | www.mindyourfinances.com


Investing for Success NATIONAL URBAN LEAGUE | Workshops designed to strengthen investor awareness in the African-American community are presented by mutual fund industry professionals from Investment Company Institute member companies.

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S CONTACT Claudia Mchunu | 212.558.5374 www.ici.org/i4s

Know Your Money Economic Empowerment Program NATIONAL URBAN LEAGUE | Know Your Money™, an economic empowerment program designed to teach African-American professionals ages 21-40 personal money management strategies, consists of a 3-class curriculum to help participants understand their attitudes about money, develop a realistic household budget, and manage everyday financial tools. The program is hosted by select National Urban League Young Professional chapters each fall.

CONTACT Nataki Goodall | 212.558.5464 | [email protected] www.nul.org/KYM

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Identity Theft FEDERAL RESERVE SYSTEM | This booklet is designed to help you understand what identity theft is, how it happens, how to protect yourself, and what steps to take if your identity is stolen.

CONTACT Lynn S. Fox | 202.452.2290 www.bos.frb.org

Privacy Choices for Your Personal Financial Information FEDERAL RESERVE SYSTEM | Guidance for consumers on making informed choices about whether to allow their personal financial information to be shared.

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CONTACT Lynn S. Fox | 202.452.2290 www.federalreserve.gov

InCharge Guide to Debtor Education INCHARGE EDUCATION FOUNDATION, INC. | The InCharge Guide to Debtor Education is designed to guide people who file for bankruptcy toward improved management of their financial activities in the future and overall enhancement of their credit health. The goal in this step-by-step process is to stimulate the involvement of each individual in planning and working toward his or her financial wellness.







Military Money INCHARGE EDUCATION FOUNDATION, INC. | Saving, investing and budgeting on a military income—while coping with frequent moves, career changes for the spouse and new schools for the kids—requires special skills and planning. Military Money® magazine and Web site explores the dynamic lifestyle of military families and serves as an authoritative financial resource for those serving in America’s armed forces.

AVAILABILITY For up to 20 free one-year magazine subscriptions, call 1.888.436.8765

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CES CONTACT Ginny Moore, (407) 532-5606

www.militarymoney.com

Path to Diversity Initiative MORTGAGE BANKERS ASSOCIATION | Companies can offer their employees scholarships to the Mortgage Bankers Association’s CampusMBA and School of Mortgage Banking to advance career development and diversity in the real estate finance industry.

CONTACT Paul Richman | 202.557.2899 www.mortgagebankers.org/pathtodiversity

WOW Initiative with the Congressional Black Caucus Foundation MORTGAGE BANKERS ASSOCIATION | NATIONAL URBAN LEAGUE | For minority homebuyers—education and products from partners including MBA, Freddie Mac, HUD, and NUL. The program promotes homeownership as a means to obtain wealth by having equity in a home. Also has information on credit counseling from the National Foundation for Credit Counseling.


Investing for Success

NATIONAL URBAN LEAGUE | Workshops designed to strengthen investor awareness in the African-American community are presented by mutual fund industry professionals from Investment Company Institute member companies.

CONTACT Claudia Mchunu | 212.558.5374 www.ici.org/i4s

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Know Your Money Economic Empowerment Program NATIONAL URBAN LEAGUE | Know Your Money™, an economic empowerment program designed to teach African-American professionals ages 21-40 personal money management strategies, consists of a 3-class curriculum to help participants understand their attitudes about money, develop a realistic household budget, and manage everyday financial tools. The program is hosted by select National Urban League Young Professional chapters each fall.

CONTACT Nataki Goodall | 212.558.5464 | [email protected] www.nul.org/KYM O

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Countrywide Financial C O N T A C T House America Counseling Center 1.800.577.3732 (English) | 1.800.293.6316 (Spanish)

An Easy Guide to Buying a Home An informational booklet for potential homebuyers on the steps to purchasing a home. Tips include how to find a real estate professional, common real estate terms, types of loans, and how to make an offer on a property.


ONLINE www.wehouseamerica.com

The Countrywide Home Buyers Club The House America Counseling Center offers the Countrywide Home Buyers Club. It is a no cost program to assist customers who are determined and committed to buying a home. Customers are provided education in budgeting, credit counseling and other steps that may be necessary to help prepare for homeownership.

AVAILABILITY Brochure and education materials available in English or Spanish 50 complimentary copies per city

Home Affordability Chart A calculator to determine how much you can afford to pay for a home based on your yearly income, the amount of your down payment, and your interest rate. To access the calculators, please visit the Web site listed below.

AVAILABILITY Chart available in English only 50 complimentary copies per city

ONLINE www.countrywide.com/calculators/CalcCombined.asp

House America Counseling Center Toll-free number potential homebuyers can call for home buyer education information, loan pre-qualification, credit analysis, and budget counseling through the Countrywide Home Buyers Club Program.

ONLINE www.wehouseamerica.com/resource.html


Your Personal Credit An informational booklet for all consumers on credit, credit reports, and how credit is reported. It also includes information on how to dispute information on a credit report as well as sample correspondence.


ONLINE www.wehouseamerica.com/documents/YourPersonalCredit.pdf

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Federal Reserve System C O N T A C T Lynn S. Fox | 202.452.2290

Bank Products Provides an overview of deposits, mutual funds, and annuities.

ONLINE www.frbsf.org

Building Wealth A beginner’s guide to securing your financial future.

ONLINE www.dallasfed.org

Checkbooklet This brochure is intended to summarize the advantages and the risks involved in writing and receiving checks. It provides some basic information about checking accounts, special types of checks, and the check collection system.

AVAILABILITY Online only

ONLINE www.frbatlanta.org

Choosing a Credit Card Describes credit card features and costs, including information in credit card solicitations and applications. Provides guidance on how to file a complaint.

ONLINE www.federalreserve.gov/pubs/shop

A Consumer’s Guide to Mortgage Lock-Ins Explains mortgage lock-ins, including costs and options. Provides consumer checklist of questions to ask when shopping for a loan.

ONLINE www.federalreserve.gov/pubs/lockins

A Consumer’s Guide to Mortgage Settlement Costs Explains the fees associated with mortgage settlement. Provides information about the settlement process, a cost worksheet, and sources for additional information.

ONLINE www.federalreserve.gov/pubs/settlement


Consumer Handbook on Adjustable-Rate Mortgages (ARM) Guía para el consumidor sobre hipotecas a tasa ajustable Basic information on an important and complex mortgage option.


ONLINE www.federalreserve.gov/pubs/arms/arms_english.htm www.federalreserve.gov/pubs/arms/arms_spanish.htm

Consumer Handbook to Credit Protection Laws Explains how to shop for and obtain credit, how to maintain a good credit rating, how to dispute unfair credit transactions, and how to resolve billing errors.

ONLINE www.federalreserve.gov/pubs/consumerhdbk

Credit and Charge Cards Explains the difference between credit cards and charge cards as well as disclosure information.


Credit Guide This guide is designed to help you get a good start, avoid hazards, and know where to go and what to do if you have problems when using credit.

ONLINE www.chicagofed.org

Home Mortgages: Understanding the Process and Your Right to Fair Lending Guidance on shopping for a home mortgage, making an application, and understanding your rights to fair lending.

ONLINE www.federalreserve.gov/pubs/mortgage/morbro.htm

How to Establish, Use, and Protect Your Credit Credit is an important financial tool, but it can also be dangerous, leading people into debt far beyond their ability to repay.

ONLINE www.phil.frb.org

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Identity Theft This booklet is designed to help you understand what identity theft is, how it happens, how to protect yourself, and what steps to take if your identity is stolen.

ONLINE www.bos.frb.org

Looking for the Best Mortgage: Shop, Compare, Negotiate Buscando la hipoteca más favorable: Compare, Verifique, Negocie

Guidance on identifying all the costs of your mortgage and negotiating the best loan terms.


ONLINE www.federalreserve.gov/pubs/mortgage/mortb_1.htm www.federalreserve.gov/pubs/mortgage/MortB_1_Spanish.htm

Making Sense of Savings Describes the various types of accounts available at depository institutions.

Privacy Choices for Your Personal Financial Information Guidance for consumers on making informed choices about whether to allow their personal financial information to be shared.

ONLINE www.federalreserve.gov

Protecting Yourself from Overdraft and Bounced-Check Fees Protejase de los cargos por cheques rebotados y sobregiros Explains courtesy overdraft-protection, or bounce coverage, plans, and the costs involved. Provides guidance on how to avoid overdraft fees.


ONLINE www.federalreserve.gov/pubs/bounce www.federalreserve.gov/pubs/bounce/bouncespanish.htm

Purchase Options for Consumers When you make a purchase, should you use cash, check, a credit card, debit card, your computer, or an automatic payment? Which way is best? To make a good decision, it’s important to think about your options.

ONLINE www.chicagofed.org


Putting Your Home Loan on the Line Is Risky Business Utilizar su hogar como garantía para un préstamo es arriesgado Guidance on avoiding potential borrowing pitfalls, including high-cost “predatory” home loans, and tips for getting the best financing deal possible. Includes a worksheet to use in shopping for a home loan.


ONLINE www.federalreserve.gov/pubs/riskyhomeloans www.federalreserve.gov/pubs/riskyhomeloans/riskyspanish.htm

There’s a Lot to Learn About Money Learn how to make informed decisions about managing your money.

ONLINE www.federalreserveeducation.org

What You Should Know about Home Equity Lines of Credit Lo que usted debería saber sobre las líneas de crédito con

garantía hipotecaria Information on home equity lines of credit; includes a glossary of terms and a checklist to use in shopping for a plan.


ONLINE www.federalreserve.gov/pubs/equity/equity_english.htm www.federalreserve.gov/pubs/equity/equity_spanish.htm

Your Credit Report It used to be that a retailer or bank would have to call each creditor you listed on an application form before they would decide to extend credit to you. Today they rely on credit reports, so it’s important for you to know what is in yours.


Your Credit Rights You need to understand how credit is awarded or denied and what you can do if you are treated unfairly. The major laws that regulate credit are outlined in this brochure.


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InCharge Education Foundation, Inc. C O N T A C T Please call the individual staff contact listed for questions regarding each publication.

Credit Booster An acceptable credit score is crucial in qualifying for low interest rates on a mortgage, car loan and many other items. Yet many consumers have never seen their credit report and don’t understand the importance of their credit score. Credit Booster is a workbook designed to provide consumers with critical information on credit reports, credit scoring and related topics.

AVAILABILITY For up to 20 free workbooks, call 407.532.5606


Credit Booster 2nd Edition The Credit Booster workbook is designed to provide consumers with information on credit scoring, credit problems, credit repair and related topics. Users learn about the importance of their credit score and how the score is determined. Credit Booster also shows readers how to order credit reports from credit bureaus, understand the information, find and fix errors, and take steps to rebuild damaged credit. A Spanish-language version of Credit Booster also has been released.

AVAILABILITY English and Spanish For up to 20 free workbooks, call 407.532.5606.


Credit Compass Credit Compass helps individuals and organizations tackle the problem of financial illiteracy. This award-winning program consists of seven independent learning modules, each focused on a specific aspect of personal finance such as goal setting, budgeting, credit card basics and credit reports. It is available in three versions: Web-based, CD-ROM and a book.

AVAILABILITY English and Spanish For up to 500 free Web version user names and passwords, up to 50

free CDs, or up to 20 free books, call 1.877.617.7989.



Credit Compass Classroom Edition Facilitating the use of Credit Compass in the classroom, this set of products presents student activities related to the educational content of the Credit Classroom guide/CD/web which can be used by students as a learning tool. A teacher’s guide also is included to help the teacher lead the learning exercise.

AVAILABILITY For up to 20 free copies, call (877) 617-7989.


InCharge Educational Outreach InCharge Education Foundation hosts a series of free educational workshops in cities across the country on a range of personal finance topics, including Credit and Debt Management, Creating a Spending Plan and Managing Family Finances, Home-buying Education, and Woe Is Me: Credit, Credit Cards & Debt Collections. InCharge also is working with the Conference of Mayors’ Council for the New American City to enhance the financial literacy of city residents through an educational program delivered via community/neighborhood organizations. InCharge has developed an effective workbook that can be used by facilitators in city environments, as well as a Train-the-Trainer program for program facilitators.


InCharge Guide to Debtor Education The InCharge Guide to Debtor Education is designed to guide people who file for bankruptcy toward improved management of their financial activities in the future and overall enhancement of their credit health. The goal in this step-by-step process is to stimulate the involvement of each individual in planning and working toward his or her financial wellness.



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InCharge Guide to Homeownership INCHARGE EDUCATION FOUNDATION, INC. | The InCharge Guide to Homeownership is a practical, easy-to-understand guidebook for potential homebuyers who have little or no experience with homeownership. This manual is designed for easy self-paced study. Readers start with a pre-test to gauge their level of knowledge about owning a home, then they move into the various important topics about the home buying process.


CONTACT Ginny Moore, (407) 532-5606

InCharge Hispanic products InCharge Education Foundation has released Spanish-language versions of some of its flagship publications, including Credit Booster and Credit Compass. Also, Dinero Hispano is a Spanish-language personal finance education website offering a range of programs tailored to meet the specialized financial literacy needs of the growing Hispanic community. It provides information on budgeting, financial planning, avoiding bankruptcy, understanding credit reports and the wise use of credit cards.



Young Money Young Money® delivers a unique blend of money, business and lifestyle that informs, engages and inspires its 18- to 24-year-old audience. A recognized brand at several major college campuses across the country, Young Money leads the market as an authority for young adults through a bi-monthly magazine, colorful Web site, and exciting live on-campus events.

AVAILABILITY For free teacher’s guides, student study guides and worksheets, and up to 20 free one-year magazine subscriptions, call 1.888.436.8714.



Young Money Classroom Edition Young Money® Classroom Edition brings Young Money magazine to the high school classroom in the form of bulk subscriptions at a discount. A class set consists of 20 subscriptions of Young Money (six issues each) and a four-page Leader’s Guide with each issue. A special Classroom Edition with worksheet exercises and related articles is available at on the Web site.

AVAILABILITY For up to 20 free copies, call 1.888.436.8714.


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Mortgage Bankers Association C O N T A C T Paul Richman | 202.557.2899

MBA’s Home Loan Learning Center A Web site that will provide consumers with information and resources necessary to learn about the home buying process. It will offer the consumer an explanation about how the home buying process works; home buying tips and online links to home buying guides. The site will also provide an explanation of consumers’ rights, contains calculators to help consumers make decisions about what type of mortgage they can obtain and afford and provides the means for a consumer to ask an expert—a Certified Mortgage Banker—questions about the home buying process. It offers the consumer a free online course entitled “Consumer Homebuyer Education: Home Buying Basics” that covers such topics as: budget development, understanding credit, selecting a home, evaluating mortgage products, preparing a mortgage application, procedures at closing and how to avoid predatory lenders. A free seminar is also available for consumers to listen to and participate in a presentation delivered via the telephone about the importance of good credit and how to better improve their credit score. The Home Loan Learning Center is a tool that you can use to educate your constituents about homeownership opportunities in your communities. Web site and course in English and Spanish

ONLINE www.homeloanlearningcenter.com

MBA’s Resource Center for Expanding Homeownership The Resource Center for Expanding Homeownership is a Web site designed to provide industry professionals with resources that will assist them in meeting the needs of emerging market borrowers across the country. Lenders, other real estate finance professionals, nonprofit agencies and government agencies in your community can find information about the following areas: Consumer Education, a tool kit for successfully conducting homebuyer fairs and

other consumer education efforts. Best Practices that provide models of successful partnerships. Partnership Opportunities providing directories of potential partners including

public, private, and nonprofit agencies involved in housing at the local, state, and national level.

Products and Programs providing innovative approaches to expanding homeownership.

Research Resources and Library which assist in assessing market opportunities.

ONLINE www.mortgagebankers.org/homeownership


Path to Diversity Initiative Companies can offer their employees scholarships to the Mortgage Bankers Association’s CampusMBA and School of Mortgage Banking to advance career development and diversity in the real estate finance industry.

ONLINE www.mortgagebankers.org/pathtodiversity

Stop Mortgage Fraud Consumer Education Campaign A financial literacy program that gives consumers three important tools they can use to help prevent them from being subject to predatory lending practices: A Borrower’s Bill of Rights, which provides a detailed listing of consumer rights

during the mortgage transaction from the first contact with a lender/broker to the closing of the loan.

The Ten Warning Signs of Predatory Lending, which lists the 10 common warning signs of predatory lending. These signs include everything from being asked to leave signature lines blank to being encouraged to include false information on a loan application.

Where to Report Suspected Predatory Lending, consumers can either visit the www.stopmortgagefraud.com Web site or call 1.800.348.3931 to get information on what steps to take to file a complaint. Consumers calling the 800 number will receive a brochure that contains information also found on the Web site.

AVAILABILITY English, Spanish, and Arabic

WOW Initiative with the Congressional Black Caucus Foundation For minority homebuyers—education and products from partners including MBA, Freddie Mac, HUD, and NUL. The program promotes homeownership as a means to obtain wealth by having equity in a home. Also has information on credit counseling from the National Foundation for Credit Counseling.

ONLINE www.cbcfinc.org/Economic%20Development/WOW

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National Association of Realtors C O N T A C T Erika Ruiz, Housing Opportunity Program 202.383.1079 | [email protected]

Specialty Mortgages: What Are the Risks and Advantages? The National Association of Realtors and the Center for Responsible Lending created an educational brochure titled “Specialty Mortgages: What are the Risks and Advantages?” to help prospective buyers make an informed decision about the kind of home financing that is best for them. In many housing markets, home prices have risen to very high levels, making it harder to afford a home—especially for first-time homebuyers. A growing number of homebuyers are deciding to use one of several new types of specialty mortgages that let them “stretch” their income so they can qualify for a larger loan. This brochure will help them assess the risks and advantages of interest-only, negative amortization, payment option ARM, and 40-year mortgages.

AVAILABILITY To download the brochure, go to www.realtor.org/housopp.nsf/pages/ SpecialtyMortgages

Mayors can receive 10 copies each free of charge, or purchase more brochures at cost through this Web site.


National Urban League C O N T A C T Please contact the individual staff contact for each program with questions.

Investing for Success Workshops designed to strengthen investor awareness in the African-American community are presented by mutual fund industry professionals from Investment Company Institute member companies.

CONTACT Claudia Mchunu | 212.558.5374 www.ici.org/i4s

Know Your Money Economic Empowerment Program Know Your Money™, an economic empowerment program designed to teach African-American professionals ages 21-40 personal money management strategies, consists of a 3-class curriculum to help participants understand their attitudes about money, develop a realistic household budget, and manage everyday financial tools. The program is hosted by select National Urban League Young Professional chapters each fall.

CONTACT Kathryn Taylor | 212.558.5408 | [email protected] www.nul.org/KYM

WOW Initiative with the Congressional Black Caucus Foundation For minority homebuyers—education and products from partners including MBA, Freddie Mac, HUD, and NUL. The program promotes homeownership as a means to obtain wealth by having equity in a home. Also has information on credit counseling from the National Foundation for Credit Counseling.


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Nationwide Retirement Solutions C O N T A C T Linda W. Barber | 614.854.8895

The Three Little Pigs: A Financial Fairy Tale Nationwide Retirement Solutions believes in Retirement Education for Life. They are also very concerned about the statistics surrounding children’s financial education. Development of The Three Little Pigs: A Financial Fairy Tale is designed to be one step toward helping children build a natural curiosity about financial planning at an early age. Nationwide has adapted the well-known children’s fairy tale into a modern-day financial lesson that teaches children the importance of balancing their spending, saving and sharing. Spending Pig, Stingy Pig, Smart Pig and Mr. B.B. Wolfe are the stars in the story that follows the 3 pigs as they manage and mismanage their money. The full-color storybook, workbook full of suggested activities and other information can be downloaded from the Web site. These materials can be shared in classrooms, with youth groups, or as part of the curriculum for Take a Child to Work Day. In recognition of the excellence of The Three Little Pigs program, The U.S. Conference of Mayors and Nationwide Retirement Solutions received a 1st Place 2005 Eddy Award from Pensions & Investments/Workforce Management.

ONLINE www.nationwidekids.com

Founding Sponsor of the Dollar Wi$e Campaign

COUNCIL FOR THE NEW AMERICAN CITY 2006 MEMBERS

American Institute of Architects American Management Services

Cherokee Investment Partners, LLC Countrywide Financial

DuPont InCharge Education Foundation

Initiative for a Competitive Inner City International Council of Shopping Centers

Mortgage Bankers Association National Association of Home Builders

National Association of Realtors National Urban League

Nationwide Retirement Solutions

Kwame M. Kilpatrick Mayor of Detroit

Chair, Council for the New American City

Dave Gatton Director, Council for the New American City

The United States Conference of Mayors

Tom Cochran, Executive Director

1620 Eye Street NW Washington, DC 20006

Phone 202.293.7330 Fax 202.293.2352

usmayors.org

dollarwiseonline.org

Documents

DollarWise Resource Book, 2006–07