Thursday, September 1, 2011

HUD Extends Assistance for Struggling Homeowners Under EHLP Program

August 30th, 2011 |
by Alyssa Gerace
Published in News, Reverse MortgageCMs

   Struggling homeowners in 27 states and Puerto Rico have been granted another window of opportunity to enroll in the Emergency Homeowners Loan Program (EHLP) now that the U.S. Department of Housing and Urban Development (HUD) has extended the deadline and reopened the application process.
   The original deadline was July 27, but HUD estimates it will have enough resources to provide assistance to more struggling homeowners, and has extended the deadline to Sept. 15, 2011.
   EHLP provides interest-free loans for struggling homeowners who qualify under the program guidelines. Initially, HUD expected that the program would assiste 30,000 homeowners.
Applications for the program will be continue to be accepted in Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and the Commonwealth of Puerto Rico.

HUD partnered with NeighborWorks America in June for the program, which received $1 billion of funding from Congress.