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Deadline for homeowner's emergency loan program extended

Posted: August 29, 2011 - 9:27pm

The U.S. Department of Housing and Urban Development (HUD) and NeighborWorks America has reopened the application process for the Emergency Homeowners’ Loan Program (EHLP) in 27 states, including Alaska, to give homeowners who are at risk of foreclosure more time to apply for the program. Applications will be accepted through Sept. 15.

EHLP assists at-risk Alaska homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment, economic conditions or medical conditions. Eligible homeowners can qualify for interest-free loans, which pay a portion of their monthly mortgage for up to two years or up to $50,000.

Homeowners must contact a participating counseling agency for more information in order to determine their eligibility for the program and to apply for mortgage assistance. Only participating counseling agencies can accept applications from homeowners.

Homeowners are encouraged to visit www.FindEHLP.org to find contact information for all participating counseling agencies and to access the applicant screening worksheet, the required documents for all applicants checklist and more information on the EHLP assistance and its eligibility requirements. Homeowners may also call the toll free hotline at 855-346-3345. There is no cost to apply.

Qualified homeowners should apply and provide all required documents in a timely manner since EHLP funds are provided to on a first-come, first-served basis.

HUD is aggressively promoting this emergency mortgage assistance program 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.

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