Unemployed Mortgage Assistance Program Extended

unemployed mortgage assistance
unemployed mortgage assistance

The Department of Housing and Urban Development will begin taking applications again for a new program providing interest-free loans to unemployed borrowers struggling with their mortgage payments.

Under the Dodd-Frank Act authority, HUD launched the $1 billion Emergency Homeowners Loan Program in June. Unemployed homeowners in 27 states, including five others that operate similar existing programs, could apply for up to $50,000 in assistance.