The U.S. Department of Housing and Urban Development (HUD) is currently offering the Emergency Homeowners’ Loan Program, which can help eligible homeowners with mortgage payments for up to two years.
The program was created to help homeowners who are temporarily and involuntarily unemployed or underemployed due to economic conditions or a medical condition, and are at risk of foreclosure. The loan program will provide eligible homeowners with emergency assistance that pays a portion of their monthly mortgage payment for up to twenty-four consecutive months, or up to $50,000, whichever occurs first.
A total of 984 Colorado homeowners are expected to receive assistance through the program.
The deadline to submit a pre-applicant screening worksheet and third-party authorization form is Friday.
Homeowners with eligible pre-application screening worksheets may be entered in a random lottery. Homeowners selected through the lottery will be contacted and scheduled for an appointment to complete a full application.
For more information and to find a participating counseling agency, visit www.findehlp.org or call the toll-free hotline at 1-855-346-3345.
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