Emergency loan program deadline nears
The deadline for homeowners to qualify for the Emergency Homeowners' Loan Program (EHLP) is approaching with the Pre-Applicant Screening Worksheet due by Friday (July 22).
The loan program, launched in June by the U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks America, is designed to help homeowners who are at risk of foreclosure in 27 states across the country (including Washington) 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, economic conditions or a medical condition.
Under the 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.
Homeowners should beware of scams. It is free to submit a worksheet or get assistance with completing the worksheet. Any company asking for money to assist homeowners with the EHLP application process is a scam.
Contact information for participating agencies, the Pre-Applicant Screening Worksheet and more information on the EHLP and its eligibility requirements can be found at www.finehlp.org or by calling toll free at 855-346-3345.