CredAbility, a HUD-approved counseling agency based in Atlanta, estimates 600,000 Atlanta homeowners are 60 days or more behind on their mortgage payments. These homeowners can get free assistance from CredAbility in applying for a loan modification program that could lower their monthly mortgage payment by hundreds of dollars, the agency says.
Of the $9.5 million the U.S. Treasury Department recently awarded to nonprofit housing counseling organizations around the country, the largest amount in Georgia ($473,000) went to CredAbility. The nonprofit agency will use the funds to help local homeowners navigate the process of seeking a loan modification or other foreclosure prevention help as part of the Making Home Affordable (MHA) program.
CredAbility has assigned 50 housing counselors to work with struggling homeowners in applying for mortgage assistance. To schedule a personal counseling session, call 888-420-5767 or visit www.CredAbility.org/mha .
What You’ll Need
To help housing counselors with CredAbility or another HUD-approved counseling agency evaluate your situation, the agency recommends that homeowners have the following documents handy:
- 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 income letter, if applicable