Foreclosure Relief Program Extends Deadline
Emergency Homeowners Loan Program Deadline Is Now July 27
WISC-TV (Madison, Wisc)
23 July 2011

A federal loan program aimed at fixing America's wave of foreclosures has extended the deadline for a critical application.

Two weeks ago, the federal government opened the application process for those needing help meeting their mortgage payments. The deadline to apply for the federal grant was supposed to be Friday, but one Madison-area group is allowing homeowners until July 27 to get their applications in.

"It's a shot," said Beloit resident Cyndi Martalock, who said she hopes the application can provide relief for her mortgage. "There's another avenue that we could take to hopefully get caught up on our mortgage."

Martalock said a medical emergency put a strain on her family's mortgage.

"All it takes is a little hiccup, and it throws things off kilter," said Martalock. "And if you're on a tight budget, which we are, that's all it takes, one little mishap you weren't counting on."

Greenpath Debt Solutions, along with other counseling agencies certified by the U.S. Department of Housing and Urban Development, said they're hearing similar stories.

"We have three counselors in the office, and we have appointments booked back-to-back all day long for three counselors," said Greenpath's Ellen Bernards.

Since this month's announcement of the federal Emergency Homeowners Loan Program, counselors said appointments have been booked solid for those hoping to be one of the lucky applicants and receive an interest-free loan of up to $50,000.

Nationwide, Greenpath has received 5,000 applications, with 600 of those from Wisconsin residents. Still, counselors said they are aware there are more who may be apprehensive to seek assistance.

"They come here like they're going to the dentist," said Bernards. "Just because they have to, the last possible moment sometimes. And so we really work to keep people as comfortable as they can be in this situation and normalize it so they don't feel ashamed."

"When you want to stay (in your home), it's personal," said Martalock. "It's where you've raised your children, and it makes a big difference."

Only 30,000 homeowners nationwide will be selected.

While other counseling agencies had a deadline until Friday, Greenpath was continuing until next week.

For more information on how to apply, go to http://findehlp.com/.