Greg, a proud Vietnam Vet, understands the meaning of the word "home." He's lived in his home for decades, raised his family there and planned to remain there the rest of his life. However, financial troubles and chronic Post-Traumatic Stress Syndrome left him ill and his mortgage in arrears. In August of 2003, Greg was hospitalized. During his five-month hospitalization, he lost a portion of his Veteran's Administration pension, which decreased his monthly income by nearly $1,200. His ability to hold onto his home was threatened. In time, the government was able to reinstate his full pension. He was now able to keep up his mortgage payments, but he could not pay the amount that was past due. The Homeownership Preservation Foundation (HPF) was able to offer Greg credit counseling through the Credit Counseling Resource Center (CCRC). Greg's mortgage servicer was also contacted to investigate several options for restructuring his payments. In addition to working with the CCRC to develop a significantly revamped monthly budget, Greg's servicer was able to modify his loan through a temporary interest rate reduction. Since March of 2004, Greg has been making his mortgage payments on time. In fact, his relationship with his servicer is so strong that they have monthly conversations about his life and his home. Greg's pleased because, as he recently reported, he's taken on the role of daytime caregiver to his first grandchild...in his own home. < Back