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You're Now Reading:
Five More States Receive Emergency Home Loan Aid
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Five More States Receive Emergency Home Loan Aid
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Five More States Receive Emergency Home Loan Aid
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

April 4, 2011 (Jeff Alan)
mortgage-hudpic-image
Five more states have been approved to receive funds from the Department of Housing and Urban Development’s (HUD) Emergency Home Loan Program (EHLP). The bridge loan program is designed to help unemployed families pay their mortgages by providing up to $50,000 in assistance to help borrowers pay their mortgage principal, interest, insurance, taxes and hazard insurance for up to 24 months.

Last year HUD provided $1 billion in assistance to 32 states and Puerto Rico in emergency assistance to homeowners at risk of foreclosure due to loss of income brought on by layoff, underemployment, or medical assistance.

The five states and the amounts that they were awarded included Connecticut ($33 million), Delaware ($6 million), Idaho ($13 million), Maryland ($40 million), and Pennsylvania ($105 million).

“The Emergency Homeowner Loan Program will provide limited and targeted assistance to help working families get back on their feet and keep their home while they look for work,” said HUD Secretary Shaun Donovan.

Under the program, eligible borrowers must:

1. Be at least three months delinquent in their payments and have a reasonable likelihood of being able to resume repayment of their mortgage payments and related housing expenses within two years;
2. Have a mortgage property that is the principal residence of the borrower, and eligible borrowers may not own a second home; and
3. Demonstrate a good payment record prior to the event that produced the reduction of income.

According to HUD, nonprofit housing counselors who are part of the National Foreclosure Mitigation Counseling Program administered by NeighborWorks® America will coordinate intake counseling, document preparation and outreach functions.

States are expected to be able to start taking applications in early April.

Tags: HUD, Emergency Home Loan Program, mortgage assistance, borrowers, unemployed families, loss of income, layoff, underemployed

Sources:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

April 4, 2011 (Jeff Alan)
mortgage-hudpic-image
Five more states have been approved to receive funds from the Department of Housing and Urban Development’s (HUD) Emergency Home Loan Program (EHLP). The bridge loan program is designed to help unemployed families pay their mortgages by providing up to $50,000 in assistance to help borrowers pay their mortgage principal, interest, insurance, taxes and hazard insurance for up to 24 months.

Last year HUD provided $1 billion in assistance to 32 states and Puerto Rico in emergency assistance to homeowners at risk of foreclosure due to loss of income brought on by layoff, underemployment, or medical assistance.

The five states and the amounts that they were awarded included Connecticut ($33 million), Delaware ($6 million), Idaho ($13 million), Maryland ($40 million), and Pennsylvania ($105 million).

“The Emergency Homeowner Loan Program will provide limited and targeted assistance to help working families get back on their feet and keep their home while they look for work,” said HUD Secretary Shaun Donovan.

Under the program, eligible borrowers must:

1. Be at least three months delinquent in their payments and have a reasonable likelihood of being able to resume repayment of their mortgage payments and related housing expenses within two years;
2. Have a mortgage property that is the principal residence of the borrower, and eligible borrowers may not own a second home; and
3. Demonstrate a good payment record prior to the event that produced the reduction of income.

According to HUD, nonprofit housing counselors who are part of the National Foreclosure Mitigation Counseling Program administered by NeighborWorks® America will coordinate intake counseling, document preparation and outreach functions.

States are expected to be able to start taking applications in early April.

Tags: HUD, Emergency Home Loan Program, mortgage assistance, borrowers, unemployed families, loss of income, layoff, underemployed

Sources:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

April 4, 2011 (Jeff Alan)
mortgage-hudpic-image
Five more states have been approved to receive funds from the Department of Housing and Urban Development’s (HUD) Emergency Home Loan Program (EHLP). The bridge loan program is designed to help unemployed families pay their mortgages by providing up to $50,000 in assistance to help borrowers pay their mortgage principal, interest, insurance, taxes and hazard insurance for up to 24 months.

Last year HUD provided $1 billion in assistance to 32 states and Puerto Rico in emergency assistance to homeowners at risk of foreclosure due to loss of income brought on by layoff, underemployment, or medical assistance.

The five states and the amounts that they were awarded included Connecticut ($33 million), Delaware ($6 million), Idaho ($13 million), Maryland ($40 million), and Pennsylvania ($105 million).

“The Emergency Homeowner Loan Program will provide limited and targeted assistance to help working families get back on their feet and keep their home while they look for work,” said HUD Secretary Shaun Donovan.

Under the program, eligible borrowers must:

1. Be at least three months delinquent in their payments and have a reasonable likelihood of being able to resume repayment of their mortgage payments and related housing expenses within two years;
2. Have a mortgage property that is the principal residence of the borrower, and eligible borrowers may not own a second home; and
3. Demonstrate a good payment record prior to the event that produced the reduction of income.

According to HUD, nonprofit housing counselors who are part of the National Foreclosure Mitigation Counseling Program administered by NeighborWorks® America will coordinate intake counseling, document preparation and outreach functions.

States are expected to be able to start taking applications in early April.

Tags: HUD, Emergency Home Loan Program, mortgage assistance, borrowers, unemployed families, loss of income, layoff, underemployed

Sources:
HUD

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.