According to the November 18, 2009 Washington Post article, Counseling Helps Borrowers Avoid Foreclosure, study finds, written by Renae Merle, “borrowers who receive counseling are 60 percent more likely to avoid foreclosure and have their mortgage payments lowered significantly.” This is according to a study by the Urban Institute on the effectiveness of the National Foreclosure Mitigation Counseling Program (NFMC). Neighborhood Housing Services of New York City is a participating housing counseling agency under the NFMC program. The study also finds that “clients who saw a housing counselor and received a loan modification from their lenders had their monthly payments reduced on average $454 more than those who did not receive counseling.” To read the full Washington Post article click here. To read the full report of the Urban Institute click here.