For those who did not see the prior announcement, the Department of Housing and Urban Development (HUD) announced that their program called EHLP - Emergency Homeowners Loan Program has a July 22, 2011 deadline to file your application for consideration.
See their website at: http://ehlp.nw.org/
From the EHLP website, 2 frequently asked questions:
EHLP - Emergency Homeownersâ€™ Loan Program was created to provide emergency mortgage assistance to homeowners who are temporarily and involuntarily unemployed or underemployed due to the economy or a medical condition and are at risk of foreclosure. The Dodd-Frank Wall Street Reform and Consumer Protection Act provided $1 billion to the U.S. Department of Housing and Urban Development (HUD) to develop EHLP.
EHLP - Emergency Homeownersâ€™ Loan Program can provide eligible homeowners with a 0% interest, forgivable loan that pays past-due mortgage payments (principal, interest, taxes, insurance, attorney fees), as well as a portion of the homeownerâ€™s mortgage payment for up to 24 consecutive months, or up to $50,000, whichever comes first, and provided that certain eligibility requirements are maintained.
Don't Delay, Review the program details to confirm your eligibility and take action!
Michael Hobbs, President, PahRoo Appraisal & Consultancy