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Released: June 21, 2011
HUD program to aid distressed homeowners
Source: Renae Merle, Washington Post (Free Registration)
The Department of Housing and Urban Development announced the launch Monday of a $1 billion program to save delinquent homeowners in more than two dozen states from foreclosure. Unemployed homeowners or those underemployed because of economic conditions or a medical condition will be eligible for an interest free loan that will cover a portion of their mortgage for up to two years, or up to $50,000, whichever comes first. The program, known as the Emergency Homeowners’ Loan Program, is expected to help up to 30,000 distressed borrowers, according to HUD.Read Full Article: HUD program to aid distressed homeowners
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