Books

  • Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.


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Comments

It's pathetic and so dishonest.

NFCC complain about HPF have extortionist tactics, but NFCC actually refused to seek funds for its own member agencies if they did not agree to work exclusively with NFCC, citing some HUD rules (that did not apply). HPF didn't do that.

So NFCC is not even serving its own members interest now, as this NFCC decision hurt a lot of agencies that could have done deals of got money from more than one source.

The real reason was obvious.. they wanted to make sure they got their cut.(NFCC takes 18% of these grants for well, maybe they can explain). One look at their IRS 990 will give you as good idea of what theses 'consumer advocates' spend their money on.

I agree with your analysis on NFCC, but think you missed one factor that drives NFCC\'s concern: They go on about HPF\'s extortionist tactics in forcing agencies to seek funding through them.

Pretty boring right? so why are they are outraged?

Answer: Money to NFCC. Under the terms of this grant program NFCC members could apply for grant funding through other groups like HPF as well as NFCC, but this would cut down on NFCC\'s cut of the grant $. This is a big grant program so NFCC is looking for a big pay day.

To try sand hold on to as much as possible, NFCC told its members apply with us only or not at all. HPF did not do this. They implied it was a HUD regulation and NFCC members believed them.

When lots of NFCC members (especially, but not only those in HPF) decided NFCC did not make sense for them and sought funding outside the NFCC, NFCC realized their greedy ultimatum had backfired, so they blamed HPF... but anyone who is involved knows who the real extortionists are.

Knowing this, re-read Susan Keating’s letter and their true motivation become very clear.

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