Free mortgage counseling for veterans - FOX13 News, WHBQ FOX 13

Free mortgage counseling for veterans

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GREENPATH DEBT SOLUTIONS -

"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.

Credit report review – GreenPath can help veterans read and understand their credit report, available at www.annualcreditreport.com.

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, did you know that 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.

Active servicemen and women

Come home after overseas deployment, facing:

  • credit card debt
  • mortgage issues
  • budget issues

While they are overseas, the one who stays at home with the family is working on getting the kids off to school, likely working themselves, paying bills and it can all add up emotionally and financially.

Retired veterans

The retired veteran also faces the same issues as active servicemen and women:

  • credit card debt
  • mortgage issues
  • budget issues

This can tie in to the recovering economy and how individuals, as a whole, are working hard to make ends meet.

Solutions? GreenPath can help veterans and active service members with free counseling:

Build a budget – really get an understanding of how money comes and goes out each month.

Housing counseling – First time-homebuyer? Refinancing?

Reverse mortgage counseling – GreenPath offers free reverse mortgage counseling for individuals 62 and over.

Credit report review – GreenPath can help you read and understand your credit report, available at www.annualcreditreport.com.

Debt management program – help individuals with their credit card debt

Why it is important 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, did you know that 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 6% 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.

 

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