Mortgage Aid for Unemployed
or Underemployed

 

A federal program that will provide interest-free loans to unemployed homeowners so they can make mortgage payments was launched in June after months of delays, with $61 million earmarked for Massachusetts.

The Department of Housing and Urban Development and NeighborWorks America, a Washington, D.C., nonprofit that is helping to administer the $1 billion program, said it will benefit about 30,000 homeowners nationwide — including more than 1,000 in Massachusetts. Applications are due by July 22, and officials are anticipating needing a lottery to determine who receives money. Those who meet eligibility requirements will be able to borrow up to $50,000 over a two-year period. Under some circumstances, the money will not have to be paid back.

To receive a loan application or get more information, call 855-346-3345 or visit www.FindEHLP.org.

Additional information:  http://www.chapa.org/?q=EHLP and www.nw.org/network/foreclosure/nfmcp/EHLPmainpage.asp

Full article at Boston.com…

6/11