Emergency Homeowners Loan Program | $50k Given To Underwater Owners

For the roughly four million homeowners who have fallen behind on their mortgage payments, the federal government is offering yet another remedy: free money to catch up on their loans.

STOP and READ NOW: What do to the top 7439 REO Listing Agents in the US know that you don’t?Watch the FREE Agent REO Secrets video and download the FREE REO Training Guide. NOTICE: Free book guaranteed for the first 100 agents only.

The effort, called the Emergency Homeowners Loan Program, is the latest in the federal government’s efforts to slow down the flood of foreclosures a necessary step to a meaningful recovery in the housing market, says a Department of Housing and Urban Development official. For people who have lost their jobs, the $1 billion program offers loans of up to $50,000 that don’t actually need to be repaid, if applicants meet certain requirements.

Check this CNBC video out: