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Martina Ryan's Blog

By Martina Ryan | Agent in Queens, NY

Emergency Homeowners Loan Program Deadline July 27 Extended to September 15

The Emergency Homeowners Loan Program was announced earlier this month by the Department of Housing & Urban Development.  It was set up to help those unemployed keep their homes if they got behind on their mortgage payments, however few have heard about it and the deadline for applications is fast approaching.

The Dodd-Frank Wall Street Reform & Consumer Protection Act provided  $1 billion to HUD to implement the Emergency Homeowners' Loan Program (EHLP).

If you have experienced hardship due to lack of employment & have made every attempt to keep your home but the recent recession has made it impossible for you to keep current on your mortgage; then this could be the silver lining to your nightmare. 

The program was set up to work as a bridge for people hit by unemployment and was to help them get back on their feet without having to foreclose on their homes. 

HUD will give you $50,000 to bring your mortgage payments up to date and help make future payments for two years. This is a forgiveable loan at zero interest as long as you do not default on your mortgage.  There are a few guidelines so read through the requirements below and start your application.

EHLP is designed to provide mortgage payment relief to eligible homeowners experiencing a drop in income of at least 15% directly resulting from involuntary unemployment or underemployment due to adverse economic conditions and/or a medical emergency. Other EHLP eligibility requirements include:

  • Income Limit: Applicant has a total household income equal to, or less than, the greater of either $75,000 or 120 percent of the Area Median Income for a household size of four (4) persons previous to loss of income resulting from involuntary unemployment, underemployment, and/or medical emergency/serious injury.
  • Delinquency: Applicant must be at least three months delinquent on mortgage payments, as signified by notification by their lender/servicer.
  • Likelihood of Foreclosure: Applicant must have received notification of their lender's/servicer's intention to foreclose on their mortgage as a result of the delinquency, and must also certify to the likelihood that their mortgage will be foreclosed upon.
  • Ability to Resume Payment: Applicant can be determined to have a reasonable likelihood of being able to resume repayment of the first mortgage obligations within 2 years, and meet other housing expenses and debt obligations when the household income rises above 85% of the previous level.
  • Principal Residence: Applicant must reside in the mortgaged property as their principal residence, both at time of application and for the duration of the program loan period. The mortgaged property must also be a single family residence (1 to 4 unit structure or condominium unit).
    To find out more about the program and how to file the application go to the following site powered by HUD:


    The deadline has been extended to September 15.

    You will find the application here:



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