USA Cares Announces New Program for Military Housing Lenders
Program to provide training/certification to lending community for military borrowers
FOR IMMEDIATE RELEASE / PRURGENT
Radcliff, KY, October 13, 2009—USA Cares today announced the creation of a new program designed to support the nation’s servicemen and women and veterans who may be experiencing hardship in making their mortgage payments. The program will support borrowers by helping lenders to better understand the unique financial and life challenges of military homeowners as well as educating lenders about the financial benefits military families have access to. USA Cares will also work with the housing counseling community to facilitate their awareness of the needs of military service members.
Bill Nelson, Executive Director of USA Cares said, “Our nation is at war and suffering tough economic times. Our new program will help enlisted and veteran borrowers avoid foreclosure and improve the experience of prospective homeowners who seek affordable homes.”
The effort will include a training course for individual lenders and a qualification standard for their parent lending institutions. Lenders will enroll in the Participating Lender Course (PLC) which will be offered nationwide in both classroom and web-based versions beginning this month. Successful completion of the course will be recognized with a certificate and that mark of excellence will become a sought after signal to military families, the promise that they will get the expert care they have earned though their service.
Beverly Ray Frase of USA Cares will direct the new program. She comes to USA Cares with a strong background as Mortgage Broker, Real Estate Broker and career Army wife. “I’ve been on all sides of this,” says Beverly. “I’ve been the military family buying a home, the Realtor helping find a home in a short window of time, and the lender helping to complete the purchase. I know firsthand what hurdles come along for military families trying to achieve homeownership and I understand the struggle some families face as they try to stay in their homes.”
USA Cares is no stranger to supporting the homeownership goals of military families. “We’ve paid out over one million dollars to save military family homes from foreclosure in the past three years,” said Jennifer Robinson, USA Cares Director of Assistance. “This new effort will help reduce the need for such assistance by supporting military borrowers and their lenders as they work together to make affordable and sustainable housing decisions.”
The program will be administered through USA Cares, a nationally recognized 501(c)3 that provides financial assistance to post 9/11 service members, veterans and their families. The program is funded by a grant from Fannie Mae.
About USA Cares
USA Cares is a nonprofit 501(c)3 organization that helps post 9/11 military families bear the burdens of service with financial and advocacy support. Its mission: To help with basic needs during financial crisis, to assist combat injured Veterans and their families and to prevent private military home foreclosures and evictions. In six years, USA Cares has received over 18,000 requests and responded with more than $6.3 million in grants. Military families anywhere in America can apply for assistance through the USA Cares web site, http://www.usacares.org/ or by calling 1-800-773-0387.
For more information on USA Cares contact John Revell, jrevellusacares.org or call (270) 352-5451.