July 11, 2011
The Mortgage Bail-Out Deadline of July 22 is Fast Approaching
WESTCHESTER, NY -- If you’re a homeowner struggling to make mortgage payments because you are unemployed or underemployed, the federal government has just launched a program to help. The Emergency Homeowner Loan Program, or EHLP, will provide zero-interest loans of up to $50,000 to pay your mortgage, property tax and insurance bills for up to two years.The program will essentially subsidize your mortgage payments, allowing you to pay just 31% of your income or $150, whichever is greater. EHLP will pay the balance. Homeowners can receive this help for up to 24 months, or until they run through the maximum EHLP loan amount of $50,000.
No payments are due on the 5-year term of these loans as long as the borrower continues to meet the program requirements. Better yet, if you do meet all the conditions of the program, your loan will be forgiven in 20% increments each year, essentially turning the loan into grant over five years.
WRO has been designated by the United States Department of Housing and Urban Development to Pre Screen Applicants who have specific qualifications. WRO will review the documentation provided based on the guidelines and submit the package. Qualified homeowners will be awarded sometime in August or September.
The Deadline for applications is Friday, July 22. Click here to download the application.
For more information please, visit WRO website www.wroinc.org or give WRO a call at (914) 428-4507.
Comments
1
Jack Treacy said...
More Obamaism leftist insanity.The only good Democrat is a defeated Democrat.
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Jack Treacy said...
Deficitcrats, just can't stop spending and they want more money in taxes to spend more and increase the deficit more.Deficitcrats, get out of the housing industry haven't you screwed it up enough?The only good Democrat is a defeated Democrat.
3
Jack Treacy said...
Ireland under a control board,Greece bankrupt,Italy Portugal and Spain bonds sinking and U.K under an austerity program.None of these countries have the GDP growing enough to increase tax revenues in order that they can afford their overly generous retirement(age 52) and medical plans.You don't hear the leftists asking anymore, why can't we be like Europe.The U.S.S.R. Obama is headed right into the iceberg and the Deficitcrats are telling us the ship is only stopping to pick up ice.The only good Democrat is a defeated Democrat.
