CredAbility helped Devronda and Len get the loan modification they needed to stay in their home.

When Devronda and Len Ambrose of Pomona, New York, called CredAbility in September 2010, their home was already scheduled for foreclosure. After missing 12 months of mortgage payments, their application for a loan modification was denied.

They worked with CredAbility Housing Counselor Kim Cox-Owens, who believed that Len and Devronda were good candidates for a loan modification. She also felt she could expedite the application process by using a new document collection system called the HOPE Loan Port. The new system allows CredAbility to submit documents directly to key personnel at many of the country’s leading mortgage companies. In this case, Kim submitted the documents and requested a trial loan modification.

The Ambroses were skeptical that CredAbility could help, but they remained hopeful. “We didn’t understand what CredAbility could possibly do for us,” said Devronda. “We had been working with our lender for months and had just been denied.”

But Kim realized that the mortgage company may not have known that Devronda started a new job in June. “When Mrs. Ambrose got her new job, there was a much better chance of qualifying for a loan modification, and we knew we could get their request reviewed quickly by using HOPE Loan Port,” she said.

Kim was right. The Ambroses received a trial loan modification in December 2010 and began making their monthly mortgage payments under the trial plan. They were on their way to saving their home and, for a change, were able to sleep at night.