NEW YORK, July 18, 2011 /PRNewswire-USNewswire/ -- GreenPath Debt Solutions, a nationwide non-profit financial organization and national housing counseling intermediary with seven local offices in New York, is reminding homeowners that they need to act fast and submit paperwork for the Emergency Homeowners' Loan Program (EHLP), by this Friday, July 22.
"The application process ends this Friday, July 22, and is the first step in providing $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, economic conditions or 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 should contact GreenPath at (888) 893-2711 to see if they are eligible for this program, or to learn more about other GreenPath housing programs and services available.
Homeowners have less than a week to call and see if they are eligible for the program, as open enrollment ends Friday, July 22. Briggs-Kelly stresses that homeowners should call as soon as possible.
"It is imperative that New York homeowners reach out to GreenPath as soon as possible, to determine eligibility and then get all the necessary paperwork in order, by the end of this week," Briggs-Kelly remarked.
About GreenPath Debt Solutions
GreenPath Debt Solutions is a nationwide, non-profit financial organization that assists consumers with credit card debt, housing debt and bankruptcy concerns. Our customized services and attainable solutions have been helping people achieve their financial goals since 1961. Headquartered in Farmington Hills, Michigan, GreenPath operates 61 full-time branch offices in 12 states. We also deliver licensed services throughout the United States over the Internet and telephone. GreenPath is a member of the National Foundation for Credit Counseling (NFCC). Our professional counselors are certified by the NFCC, and we are accredited by the Council on Accreditation (COA). For more information, visit us at www.greenpath.com.
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SOURCE GreenPath Debt Solutions