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June 12, 2012

The Emergency Homeowners Loan Program will offer a zero interest, forgivable bridge loan to homeowners who have experienced a substantial loss of income (a reduction of at least 15%) due to unemployment or underemployment caused by adverse economic conditions or medical condition. Approved homeowners are eligible to receive one-time EHLP assistance to pay certain arrearages to bring them current, as well as ongoing monthly assistance to help them to make their monthly first lien mortgage payments (including payments of principal, interest, taxes, and insurances). Assistance is limited to a maximum duration of 24 months, or up to a maximum loan amount of 000 in mortgage payment assistance, whichever occurs first. The EHLP loan is secured by a junior lien against the approved homeowner’s principal residence and is forgivable over a 5-year principal reduction period. For homeowners–making mortgage payments is a must to keep your house, but if you’re in danger of foreclosure, a new federal program could help. It’s called the Emergency Homeowners Loan Program (EHLP), and it could be the extra push that people need to prevent foreclosure.
Video Rating: 5 / 5

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  1. pttugasukJun 12, 2012 at 3:37 am

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  2. Chismoso7Jun 12, 2012 at 3:39 am

    So I dont qualify. So it does not pay to live within my means. I only owe 78.000 and I am 4 months ahead of my payments. Uncle Sam could wipe out my debt instead.

  3. ytgv3fc7Jun 12, 2012 at 4:09 am

    A lottery system? If you can’t afford it that’s what a MARKET system is for, estimating people who are in the worst condition, or in the best ability to handle a loan, and so on

  4. tyronebiggums3Jun 12, 2012 at 5:05 am

    I think I found Cami’s house, and you’ve inspired me to add it to my blog, Tray.
    6710 Percethony Ct
    Alexandria, VA 22315
    Sales History:
    04/26/2005 $643,000
    03/10/2000 $300,000

  5. tyronebiggums3Jun 12, 2012 at 5:41 am

    From the video…
    Cami, you’re an idiot, unless, of course, you have no intention of paying back the new monopoly money they are giving you.
    Nah, she’s still an idiot–$4,000/month mortgage!!! LOL

  6. ADULTEDUCATION4UJun 12, 2012 at 6:08 am

    the housing market is further imploding, and here they come with a band aid, more money that goes to bankers, but the stupid people will be like they are giving these worthless schmucks are money, not realizing this is a banker bailout not a homeowner bailout, but it will play right into the hands of stupid people who will like attack the hapless homeowner patsy, like they did the unions.

  7. starlitopensky1Jun 12, 2012 at 6:43 am

    Tax dollars or money created out of nowhere, either way it is bs for the rest of Americans. But atleast it for the average guy (hopefully only him) this time.