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GREENPATH DEBT SOLUTIONS TAKING APPLICATIONS FOR NEW EMERGENCY HOMEOWNERS’ LOAN PROGRAM
Eligible homeowners to receive up to $50,000 in assistance; Homeowners can call 888-893-2711 to see if they qualify; deadline July 22, 2011
FARMINGTON HILLS, MI (June 30, 2011) - GreenPath Debt Solutions, a nationwide non-profit financial organization and national housing counseling intermediary is accepting applications from homeowners for the recently announced Emergency Homeowners' Loan Program (EHLP).
GreenPath is accepting applications from homeowners in Colorado, New Hampshire, New York, Texas, Vermont, Wisconsin, and Wyoming.
“This program will provide $1 billion to help an estimated 30,000 homeowners in 27 states and Puerto Rico avoid foreclosure,” said Setina Briggs-Kelly, GreenPath housing manager. “The program will assist homeowners who have experienced a reduction in income and who are at risk of foreclosure, due to involuntary unemployment or underemployment, due to economic conditions or a medical condition.”
Under EHLP program guidelines, eligible homeowners can qualify for an interest-free loan, which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first. The EHLP program will pay a portion of an approved applicant’s monthly mortgage including missed mortgage payments or past due charges including principal, interest, taxes, insurances, and attorney fees. The loan does not have to be repaid, as long as the homeowner continues making mortgage payments on time for five years.
She remarked that homeowners can contact GreenPath at 1-888-893-2711 to see if they are eligible for this program, or to learn more about other GreenPath housing programs and services available.
Briggs-Kelly stressed that homeowners should call as soon as possible, as applications for this program will only be accepted through July 22, 2011.