Emergency Loan Program for Homeowners
Brooklyn Housing & Family Services is available to help homeowners in determining if they are eligible for financial assistance under the federal Emergency Homeowners’ Loan Program (EHLP). Sponsored by HUD, the program is intended to help mortgage holders of one to four unit homes who have suffered a loss of income resulting from unemployment caused by adverse economic conditions or a medical emergency.
The EHLP offers a declining balance, deferred payment loan up to a maximum of $50,000 or 24 months, whichever occurs first, to assist eligible homeowners with payments of arrearages and monthly payments on first mortgages.
The deadline to apply for the EHLP loans is July 22, 2011, and all requirements must be completed by October 1, 2011.
For more information, contact Brooklyn Housing at 718-435-7585.