The U.S. Department of Housing and Urban Development (HUD) and NeighborWorks America have reopened the application process for the Emergency Homeowners' Loan Program (EHLP) in 27 states and Puerto Rico. The program's original deadline was July 27, but HUD says it will now accept applications through Sept. 15.
Additional applications for this emergency bridge loan program will be accepted in the following states: 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 and Wyoming.
EHLP will assist homeowners in these states 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. 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.
HUD says it is aggressively promoting EHLP to nearly 80,000 homeowners in these 27 states and Puerto Rico with mortgages insured by the Federal Housing Administration and who are at least 90-days delinquent on their loan payments.
