The US Department of Housing and Urban Development announced that in cooperation with Neighbor Works America, they have launched the Emergency Homeowners Loan Program to help homeowners who are at risk of foreclosure, according to The Denver Business Journal.

Congress approved $41,286,747 to help Colorado implement the program as part of the Frank-Dodd financial reform legislation. "The program was created to assist homeowners at risk of foreclosure because they have lost their jobs or are making less money." stated DBJ.

The deadline is July 22^nd for homeowners to apply for zero-percent interest loans to pay past-due mortgages, as well as future payments up to 24 months or $50,000.  Certain eligibility requirements are involved.

For more information on this program, visit www.FindEHLP.org.

Posted in Headlines, Mortgage, Real Estate Market Conditions

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