August 31st, 2011
Unemployed homeowners in Maine now have until Sept. 15 to apply for the new Emergency Homeowners’ Loan Program, which is designed to assist those out of work with their mortgage payments. All borrowers must be approved by Sept. 30.
With this program, up to 30,000 homeowners will receive zero-interest loans of up to $50,000, which are gradually forgiven if the homeowner stays in the property.
Homeowners need to have missed at least 90 days of mortgage payments to qualify, and must have either lost a job or had their income cut back dramatically due to the economy.
The program is offered in 27 states, including: 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 and Wyoming.
For more information, visit www.FindEHLP.org or call (855) FIND-EHLP (346-3345).