The EHLP, launched by the U.S. Department of Housing and Urban development (HUD) in conjunction with NeighborWorks America in June, is designed to help homeowners who are at risk for foreclosure in 27 states across the country, including Texas.
EHLP funds will pay a portion of an approved applicant's monthly mortgage including missed mortgage payments or past due charges including principal, interest, taxes and insurance. EHLP is expected to aid up to 30,000 distressed borrowers nationally, with an average loan of approximately $30,000.
All homeowners need to do is fill out the pre-screening application to see if they meet the qualifications. Those who qualify will fill out additional paperwork and be entered into a lottery to determine who gets the funds.
Agencies participating in the Central Texas area include Money Management International in Waco and Killeen, as well as Neighborworks Waco.
Pre-screening worksheets for the Emergency Homeowner's Loan Program are due by Friday, July 22, 2011.
To find a EHLP-funded counseling agency near you, click on the link below.