The ""U.S. Department of Housing and Urban Development"":http://portal.hud.gov/portal/page/portal/HUD (HUD) is once again accepting applications for its ""Emergency Homeowners' Loan Program"":http://findehlp.com/ (EHLP). The new deadline for applications is September 15.
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The original deadline of July 22 was extended to July 27, but HUD announced Monday that it is extending the application process again because the agency believes it has enough resources to help more homeowners than have currently applied.
EHLP was designed to help homeowners who have encountered financial hardship due to involuntary unemployment or underemployment and are at risk of losing their homes.
[COLUMN_BREAK]The program is available to homeowners 90 or more days delinquent on their mortgage payments.
Eligible homeowners will receive an interest-free loan to pay a portion of their monthly mortgage payments for up to two years or up to $50,000, whichever occurs first.
EHLP also helps homeowners with past due charges, taxes, insurance, and attorneys' fees accumulated due to their delinquency.
Homeowners can apply for EHLP through participating counseling agencies, such as ""NeighborWorks America."":http://www.nw.org/network/index.asp
HUD aims to help 80,000 homeowners through the program, which is available in the following 27 states and Puerto Rico: Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and the Commonwealth of Puerto Rico.
Assistance is granted on a first-come, first-serve basis.
HUD received $1 billion for the program through the Dodd-Frank Wall Street Reform and Consumer Protection Act.