Emergency Homeowners Loan Program | $50k Given To Underwater Owners
Have you heard of this special program for additional funding for home owners in need of mortgage assistance? Please let me know if you, or anyone you know has applied for this program, I would like to hear the results. But don't wait, the deadline is fast approaching!
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.
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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.
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