Nonprofit Financial Counseling Agency Money Management International to Assist Distressed Homeowners with HUD Initiative

ADDITIONAL RESOURCES:  

Audio available at http://origin-qps.onstreammedia.com/origin/multivu_archive/VOD/50921.wav

STORY SUMMARY:

Money Management International (MMI), the nation's largest nonprofit, full-service credit counseling agency, has been approved to assist struggling homeowners in applying for the Emergency Homeowners' Loan Program (EHLP).

The EHLP, announced by the U.S. Department of Housing and Urban Development (HUD), was implemented as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The program will provide $1 billion to assist up to 30 thousand homeowners in 27 states and Puerto Rico.

MMI is currently accepting the pre-applicant screening worksheet required by HUD. The financial educators at MMI are trained in helping clients find solutions for delinquent mortgages, alternative options to foreclosure, and create a plan to maintain their dream of successful homeownership.

Through this program, applicants who have experienced a drop in income of at least 15 percent due to economic hardships caused by unemployment, underemployment, or a medical condition, may receive a zero interest forgivable loan that pays past due mortgage payments, including missed payments and late charges, up to a maximum of $50,000.  Acting fast is vital; the deadline for submission is July 22, 2011.

Qualification for EHLP assistance is a three-step process that includes pre-screening, selection, and application phases.

Call MMI at 877-329-2502 for information and assistance with the qualification process, or go online at Get-EHLP.org.

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/PRNewswire -- July 6, 2011/

SOURCE Money Management International