Deadline Extended for Mortgage Relief Program

July 25, 2011

The deadline for applying to a program that provides mortgage relief to unemployed and medically challenged home owners has been extended to July 27.

The Emergency Homeowner Loan Program originally had a deadline slated for July 22, but the federal government extended the program, which started in June, to give home owners more time to apply.

Home owners eligible for the program will be able to qualify for up to $50,000 in interest-free loans for up to two years. Home owners who have had a drop in income of at least 15 percent from involuntary unemployment or underemployment due to economic conditions or a medical emergency are eligible for the program. (Learn more about eligibility requirements and the participating states at the Department of Housing and Urban Development’s Web site.)

HUD said it hopes to help up to 30,000 borrowers through the program.

Source: “HUD Extends Unemployment Aid Deadline,” HousingWire (July 22, 2011)

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