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Federal Program To Help With Foreclosures
Homeowners Can Apply For Interest-Free Loan
POSTED: 10:58 am MDT June 21, 2011
DENVER -- The U.S. Department of Housing and Urban Development is offering $41 million to help homeowners who are at risk of foreclosure in Colorado. Congress provided $1 billion dollars to the department to implement the program. The program will assist homeowners who have lost income and are at risk of foreclosure due to involuntary unemployment, underemployment, due to economic conditions or a medical condition.
Under the program, 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.Learn more about the Emergency Homeowners’ Loan Program (EHLP) from the U.S. Department of Housing and Urban Development's website.
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