Story Archives: Possible help on mortgages for unemployed and underemployed
|Possible help on mortgages for unemployed and underemployed|
Are you and your family struggling to make ends meet because of recent job loss, underemployment or a medical emergency? If so, there may be help available for you but you have to act fast.
The Dodd-Frank Wall Street Reform and Consumer Protection Act provided $1 billion to the U.S Department of Housing and Urban Development to implement the Emergency Homeowners' Loan Program (EHLP). This HUD program is being administered by NeighborWorks America.
The program is designed to provide mortgage payment relief to eligible homeowners experiencing a drop in income of at least 15 percent, directly resulting from involuntary unemployment or underemployment due to adverse economic conditions and/or a medical emergency.
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