With so many slumps and crises going on ― credit, housing, and beyond ― concepts like “counseling” and “literacy” have become buzzwords. Is this a fad, or could consumer under-education really have been a factor in creating the economy’s current state?
A recent survey by the National Foundation for Credit Counseling found nearly 30 percent of adults say their mortgage was different than what they expected. Susan Keating, president of the NFCC, thinks first-time home buyers, or anyone taking on a non-traditional mortgage, should be required to take a financial counseling class. What do you think?