HUD Extended the Application Period for Emergency Homeowners' Loan program(EHLP). The EHLP program provides assistance to borrowers at risk of losing their homes due to unemployment or underemployment. The new deadline for applications is September 15.
Details on EHLP:
- The program is avalible to homeowners 90 or more days delinquent on their mortgage payments.
- Eligible homeowners will receive an interest-free loan to pay a portion of their monthly mortgage payments for up to two years or up to $50,000, whichever occurs first.
- EHLP also helps homeowners with past due charges, taxes, insurance, and attorneys fees accumulated due to the delinquency.
Homeowners can apply for EHLP through participating agencies, such as Neighbor Works America.
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