© 2024
NPR for Northern Colorado
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Federal Mortgage Help Program Gets an Extension

NeighborWorks America

A program to help homeowners avoid foreclosure is being extended in Colorado and 26 other states.  The Emergency Homeowners Loan Program provides emergency bridge loans to those in danger of losing their homes because of economic hardship.

The U.S. Department of Housing and Urban Development is working with NeighborWorks America, an organization helping low to moderate-income families with housing needs. 

“It’s a way for homeowners who are unemployed, underemployed, or have lost income because of a medical illness to fill the gap between making their mortgage payment and not making their mortgage payment,” says NeighborWorks spokesman Douglas Robinson.  He says the interest-free loans can go up to $50,000.

The program officially ended on July 27. But HUD officials now say they have sufficient resources to reopen and extend the program through September 15, 2011.  Homeowners must apply through a participating counseling agency.

As the host of KUNC’s new program and podcast In the NoCo, I work closely with our producers and reporters to bring context and diverse perspectives to the important issues of the day. Northern Colorado is such a diverse and growing region, brimming with history, culture, music, education, civic engagement, and amazing outdoor recreation. I love finding the stories and voices that reflect what makes NoCo such an extraordinary place to live.
Related Content
  • People who fall behind on their mortgage payments because of a job loss are about to get some additional breathing room. The Obama administration is pressuring mortgage servicers to increase the forbearance period to 12 months for homeowners who have lost jobs.