Hawai’i Emergency Mortgage Assistance Deadline Nears

By Wendy Osher

Image courtesy NeighborWorks America and EHLP program website located at: http://ehlp.nw.org/

Hawai’i homeowners at risk of foreclosure may be eligible for emergency assistance.  The federally funded program, managed by the Hawai’i Housing Finance and Development Corporation, assists homeowners who face foreclosure due to unemployment or a medical condition.  The deadline to apply for the Emergency Homeowners Loan Program is July 22, 2011.

The program is intended to assist homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment, underemployment, due to economic conditions or a medical condition.

Assistance is available for up to 130 homeowners in Hawai’i.  Eligible homeowners would benefit from a zero percent interest, forgivable loan of up to $50,000 that pays past-due mortgage payments, as well as a portion of the homeowner’s mortgage payment, for up to 24 months.

“Many of our families, friends, and neighbors are at risk of losing their homes because of circumstances beyond their control,” said Governor Neil Abercrombie. “This is a time to reach out and make sure everyone knows about this opportunity for assistance.”

To obtain a pre-applicant screening working and more information on eligibility requirements, visit the EHLP program website at www.FindEHLP.org or call 211.

Participating agencies that will be providing services to homeowners include:  the Consumer Credit Counseling Service, Hawai’i Home Ownership Center, and Hale Mahaolu (Maui County only), Homeownership Preservation Foundation, Money Management International Inc. and National Community Reinvestment Coalition.

*** Supporting information courtesy state of Hawai’i, Office of the Governor.