Homeowners at risk of foreclosure have until July 22 to submit applications for interest-free loans under the Department of Housing and Urban Development’s Emergency Homeowners’ Program.
The program is designed to provide mortgage relief to eligible homeowners experiencing a decrease in income of at least 15 percent directly resulting from involuntary unemployment or underemployment due to the economy or a medical emergency.
Colorado is one of 32 states being directly assisted under the program.
Other requirements for applicants is that they must be at least three months delinquent on mortgage payments; they must reside in the mortgaged property as their principal residence; and they must have received notification of their lender’s/servicer’s intention to foreclose on their mortgage as a result of the delinquency.
More than $41 million has been allocated to help Colorado homeowners through the program.
In Colorado, there are more than 15 agencies helping administer the program.
They include the Adams, Boulder, Grand Junction and Tri County Housing Authorities. Also assisting are Brothers Redevelopment, Inc., the city of Aurora, Colorado Housing Assistance Authority, CredAbility, the Del Norte Neighborhood Development Corp, Money Management Inc,. branches in Denver, Grand Junction and Westminster and Operation HOPE.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
