New CredAbility Ad Campaign Aimed at Helping Georgia Homeowners Struggling with Mortgage Payments
Approximately 60,000 delinquent metro Atlanta homeowners can apply for Making Home Affordable Program for free
ATLANTA – June 25, 2013 – (RealEstateRama) — CredAbility this week is kicking off the Georgia piece of a new national push to help hundreds of thousands of homeowners still struggling to avoid foreclosure. The U.S. Treasury Department recently awarded $9.5 million to nonprofit housing counseling organizations around the country. The largest amount in Georgia went to CredAbility, which will receive $473,000 to help homeowners try to qualify for a loan modification or other foreclosure prevention help as part of the Making Home Affordable program.
Approximately six percent of metro Atlanta homeowners – approximately 60,000 households — are more than 60 days delinquent on their mortgage payments. At no cost, this program can help homeowners lower their monthly mortgage payments by hundreds of dollars by lowering their interest rates. CredAbility will begin advertising the program this week and make more than 50 housing counselors available to work with them. Homeowners can reach CredAbility 24/7 to schedule a counseling session at 888-420-5767 or by visiting www.CredAbility.org/mha.
More than one million homeowners nationwide have already benefitted from the Making Home Affordable Program, but hundreds of thousands of additional families are still eligible for help.
To help a housing counselor evaluate their situation, it is recommended that homeowners be prepared to submit the following documents:
Monthly mortgage statement
Information about any other mortgages
Two most recent pay stubs
If self-employed, the most recent quarterly or year-to-date Profit and Loss Statement
Documentation of income from all sources, such as benefits
Two most recent bank statements
Unemployment insurance letter, if applicable
The federal government has enlisted NeighborWorks America to administer this project with HUD-approved housing counseling agencies across the country that also participate in the National Foreclosure Mitigation Counseling (NFMC) program—a program with funds appropriated by Congress to address the foreclosure crisis by increasing the availability of housing counseling for families at risk of foreclosure.
For this nationwide effort, all homeowner applications will be submitted through Hope LoanPort®, an internet-based document delivery portal that allows HUD-approved housing counselors to upload documents directly to participating mortgage companies so that homeowners can be effectively evaluated for assistance. CredAbility uses Hope LoanPort® to submit applications now on behalf of homeowners nationwide with several mortgage servicers.
Founded in 1964, CredAbility is one of the leading nonprofit credit counsleing and education agencies in the United States, serving clients in all 50 states plus the District of Columbia, Guam, Puerto Rico and the US Virgin Islands, in both English and Spanish. In addition, we provide in-person counseling through our branch network in five states in the Southeast. Service is provided 24/7 by phone at 800.251.2227 and online at www.CredAbility.org.