The Homeowner’s HOPE™ Hotline Granted an Extension through July 27 to Accept Applications from Homeowners Seeking Mortgage Assistance from Federal Government’s $1 Billion Emergency Homeowners’ Loan Program
WASHINGTON D.C. – The Homeownership Preservation Foundation (HPF), an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure, today announced that its Homeowner’s HOPE™ Hotline (888-995-HOPE™) was granted an extension through July 27 to help unemployed and medically challenged homeowners apply for mortgage assistance through the Emergency Homeowners’ Loan Program (EHLP).
The official deadline to apply for the Federal Government’s $1 billion Emergency Homeowners’ Loan Program (EHLP) is the end of the day today. However, HUD has granted a deadline extension to enable it to help as many eligible homeowners as possible take advantage of this much-needed financial assistance program for struggling homeowners.
“We have seen a dramatic rise in applications to the Homeowner’s HOPE™ Hotline over the last 48 hours from homeowners seeking EHLP-related information and assistance, and we are very grateful for the extension that will enable us to help so many more unemployed, underemployed, and medically challenged people apply for the program and hopefully stay in their homes,” said Colleen Hernandez, HPF’s CEO. “Counselors are available every day, around the clock, and can provide assistance to homeowners at no cost whatsoever about EHLP and other mortgage-related matters in more than 170 languages or you can complete your application at www.995hope.org.”
She added: “The average EHLP loan is expected to be approximately $35,000, a rather significant amount. It’s important to note that the loan is forgiven if the homeowner stays in the home for five years — there would be no additional debt burden, no requirement to repay the money.”
Homeowners can apply for EHLP assistance through the Homeowner’s HOPE™ Hotline until 11:59 pm (Eastern) on Wednesday, July 27.
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.