Deadline to Apply for $1 Billion Federal Government Program to Help Homeowners Facing Foreclosure Ends in One Week, Warns the Homeownership Preservation Foundation
WASHINGTON, D.C., JULY 14, 2011 – The Homeownership Preservation Foundation (HPF), an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure, urged unemployed and medically challenged homeowners facing foreclosure to call its Homeowner’s HOPE™ Hotline at 888-995-HOPE™ today to see if they are eligible for a $1 billion Federal Government program tailored to their circumstances called the Emergency Homeowners’ Loan Program (EHLP). The deadline to apply is Friday, July 22nd.
“This is a once-in-a-lifetime program and time is running out. We are strongly encouraging struggling homeowners who are unemployed or underemployed to call the Homeowner’s Hope Hotline at 888-995-HOPE (4673),” said Colleen Hernandez, HPF’s CEO.
She added: “We’re concerned that there are tens of thousands of homeowners who are either unaware or are skeptical of this program. EHLP could potentially be the financial life preserver for those who qualify, granting them the financial assistance they need to get back on their feet and ‘breathing room’ to focus on improving their employment status without the stress of a looming foreclosure. People who are behind on their mortgages because of employment challenges should call us immediately. The July 22nd deadline is fast approaching.”
Sponsored by the U.S. Department of Housing and Urban Development (HUD), EHLP is a zero-interest, forgivable bridge loan program designed specifically to help unemployed and underemployed homeowners facing significant threat of foreclosure avoid that outcome. Qualifying homeowners who meet certain income and mortgage delinquency parameters can apply for up to $50,000 of assistance. Additional details are available on HPF’s website or by calling the Homeowner’s HOPE™ Hotline at 888-995-HOPE™.
About the Homeownership Preservation Foundation
The Homeownership Preservation Foundation (HPF) is an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure. HPF guides consumers onto the path of sustainable homeownership and develops innovative solutions to preserve and expand homeownership. Through its Homeowner’s HOPE™ Hotline, 888-995-HOPE™, HPF provides comprehensive financial education and confidential foreclosure prevention counseling for FREE, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages. Since 2007, HPF has served more than four million distressed homeowners, an average of 5,500 each weekday, who depend upon HPF as a trusted, neutral source of information and assistance. For more information about the Homeownership Preservation Foundation or the Homeowner’s HOPE™ Hotline, please visit www.995hope.org
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