Federal program to assist homeowners in foreclosure
July 19, 2011
St. Peters, MO
The deadline is approaching for a federal program available to help homeowners who are currently 90 days in arrears on their mortgage and received written notice from the lender that you are delinquent on your first mortgage payments.
The U.S. Department of Housing and Urban Development Emergency Homeowners' Loan Program (EHLP) provides qualified, selected homeowners with a 0% interest, forgivable loan that pays past-due mortgage payments as well as a portion of the homeowner’s mortgage payment for up to 24 months, or up to $50,000, whichever comes first, and provided certain eligibility requirements are maintained.
To be eligible to receive EHLP emergency assistance, homeowners must meet certain conditions, including but not limited to the following: applicants must own and reside at the property, be involuntarily unemployed or underemployed due to the economy or a medical condition, have a current income that is 15 percent less than your 2009 income, meet income eligibility and other requirements. To find out more about this program, call 800.748.7636.
HUD anticipates a high amount of demand for the EHLP, so in order to ensure that program funds are made available in a fair and impartial manner, homeowners interested in applying must first complete a Pre-Applicant Screening Worksheet. Approximately 104 spots are available to be funded. If there are more potentially eligible homeowners than there are funds available to assist them, these worksheets will be entered into a randomized selection process.
The Pre-Applicant eligibility screening period will run through July 22, 2011.
From the City of St. Peters, MO
Copyright 2011 Neighbors About Town
