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Michael Hobbs' Blog

By Michael Hobbs | Appraiser in Chicago, IL

HUD's $50,000 Help For HomeOwners Expires July 22, 2011

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 Homeowners’ 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 Homeowners’ 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 homeowner’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

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