EHLP
Application Period June 20, 2011 through July 22, 2011.
The Emergency Homeowners’ Loan Program (EHLP) was created to provide emergencymortgage assistance to homeowners who are temporarily and involuntarily unemployed or underemployed due to the economy or a medical condition and are at risk of foreclosure. The Dodd-Frank Wall Street Reform and Consumer Protection Act provided $1 billion to the U.S. Department of Housing and Urban Development (HUD) to develop EHLP.
The Emergency Homeowners’ Loan Program (EHLP) can provide eligible homeowners with a 0% interest, forgivable loan that pays past-due mortgage payments (principal, interest, taxes, insurance, attorney fees), as well as a portion of the homeowner’s mortgage payment for up to 24 consecutive months, or up to $50,000, whichever comes first, and provided that certain eligibility requirements are maintained.
