Tuesday, July 12, 2011

Emergency Homeowners' Loan Program Pre-Application Deadline Approaching - Business - Press Releases - msnbc.com

Emergency Homeowners' Loan Program Pre-Application Deadline Approaching - Business - Press Releases - msnbc.com

WASHINGTON, July 12, 2011 (GLOBE NEWSWIRE) -- The deadline for homeowners to qualify for the Emergency Homeowners' Loan Program (EHLP) is rapidly approaching with all Pre-Applicant Screening Worksheets due by Friday, July 22, 2011. The EHLP, launched by the U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks® America in June, is designed to help homeowners who are at risk of foreclosure in 27 states across the country and Puerto Rico. The program assists homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment, due to economic conditions or a medical condition. Under EHLP guidelines eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.