(NOTE: GreenPath will host a special Veterans Summit on November 11 from 9 am to noon at its GreenPath headquarters in Farmington Hills, MI. See information at the end of this post.)
“We are seeing active and retired service men and women reaching out to us to discuss credit card debt and housing issues,” said David Flores, GreenPath counselor.
“Veterans coming home from overseas duty are working on getting their debt under control, while retired service people are asking about housing and reverse mortgage options.”
GreenPath recently announced that it is now offering free reverse mortgage counseling. “We discuss what a reverse mortgage is, and how an individual on the mortgage, age 62 or over, would benefit,” Flores said.
Here are some free solutions GreenPath offers:
Building a budget – really get an understanding of how money comes and goes out each month.
Housing counseling – Whether you are a first time-homebuyer or looking to refinance, GreenPath offers counseling and answers questions.
Reverse mortgage counseling – GreenPath offers free reverse mortgage counseling for individuals 62 and over.
Why it is important for veterans to reach out for help – There are many state and federal programs available to help active and retired service members that are often overlooked. Working with a non-profit counseling agency, like GreenPath, can help you identify what programs may be available for you to help with your financial concerns.
For example, the Service members Civil Relief Act, or SCRA, limits the amount of interest that may be collected on debts of persons in the military to six percent per year during the period of military service, in addition to other protections, while on active duty.
So, whether you are a service member or immediate family member, GreenPath can help point you in the right direction.
GREENPATH TO HOLD VETERANS SUMMIT ON VETERANS DAY,
MONDAY, NOVEMBER 11, 9 AM – NOON
GreenPath, along with WWJ-AM 950 will host a “Veterans Personal Finance Summit” on Monday, November 11 from 9 am to noon.
Panelists from GreenPath, the Veterans Administration and St. Mary’s Mercy Hospital and related exhibitors will discuss personal finance issues, as well as housing, medical and more.