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Nonprofit assists area homeowners with federal mortgage relief application

Print | Comments () Posted by Matt Rocheleau July 1, 2011 07:21 PM

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The following is an announcement from Roxbury nonprofit Nuestra CDC:

The U.S. Department of Housing and Urban Development has launched the Emergency Homeowners' Loan Program (EHLP). And Roxbury-based nonprofit Nuestra CDC is working to assist local homeowners through the EHLP process.

The program is designed to provide mortgage payment relief to eligible homeowners experiencing a drop in income of at least 15 percent, directly resulting from involuntary unemployment or underemployment due to adverse economic conditions and/or a medical emergency. The mortgage relief covers past-due mortgage payments, as well as a portion of the homeowner's mortgage payment for up to 24 months (up to $50,000).

EHLP will be managed by HUD's Office of Housing Counseling and administered through NeighborWorks America or individual states that operate programs which are substantially similar to EHLP. Homeowners must apply for program assistance through participating housing counseling agencies.

The deadline to apply is July 22, 2011.

Individuals may be eligible to receive $50,000 in mortgage assistance for up to 24 months. To apply, call (617) 334-5788 or email homeownership@nuestracdc.org.