HUD re-opens application period for Emergency Homeowner Loan ProgramThe U.S. Department of Housing and Urban Development (HUD) and NeighborWorks America announced that they have reopened the application process for the Emergency Homeowners’ Loan Program (EHLP).
By: Staff Report, Alexandria Echo Press
On Tuesday, the U.S. Department of Housing and Urban Development (HUD) and NeighborWorks America announced that they have reopened the application process for the Emergency Homeowners’ Loan Program (EHLP).
For more information about the mortgage payment assistance available through the EHLP program, visit www.EHLPMinnesota.com.
Several thousand EHLP pre-applications were received during the original enrollment period in July. The majority of those did not meet the strict guidelines established by HUD and the Dodd-Frank Act. Because of the high disqualification rate, HUD anticipates that there will be funding available to reach additional struggling homeowners, and has decided give additional homeowners the opportunity to apply for these funds during an “Open Enrollment” period.
Homeowners need to understand two key points about this new open enrollment period:
1. The strict qualifying guidelines still apply
2. Open enrollment requires a COMPLETE application and supporting documentation
In Minnesota homeowners interested in applying should submit all documents before 4 p.m. on Thursday, September 15 and understand that as the September 15 deadline nears, there may not be enough time to review application documents.
Submission of documentation during the open enrollment period does NOT guarantee that an application will be reviewed or accepted by HUD.