The program is only accepting applications between July 5 & July 22. Under this program, more than 1,400 selected Minnesota homeowners will receive up to $50,000 in interest-free loans over the next two years to help pay mortgage costs. The loans are also 100% forgivable for homeowners who stay in their home for 5 years following the program's completion.
Homeowners eligible to apply for the federal program must meet several criteria, including:
- Have faced an income decline of at least 15% due to involuntary unemployment, underemployment or medical issues
- Have been unable to make their mortgage payment for at least 3 months prior to June 1, 2011
- Reside in the mortgaged property
Unemployed or underemployed homeowners should visit the program's Minnesota website at www.EHLPMinnesota.com to learn more about the program, verify eligibility and download a pre-application.
Remember: The deadline to apply for this one-of-a-kind program is 4:30p.m. on Friday, July 22.
Homeowners are also being warned to steer clear of scams. There is no charge to apply for EHLP and checking eligibility and filling out the pre-application is simple. An offer to help fill out EHLP forms for a fee or anyone who guarantees that a pre-application will result in acceptance in the program in exchange for money is a scam.
Visit www.EHLPMinnesota.com for more information.
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CALL TO ACTION: Help Us Spread The Word!
If you know of unemployed/underemployed homeowners who are struggling with mortgage payments, we ask that you spread the word to them about this unique, and short-lived, opportunity.
Below you will find additional tools that you can use to help spread the word (Links to documents):
- Fact Sheet for Professionals - Understanding EHLP (PDF)
- A handout for consumers (PDF)
- Email text that you can customize to your constituents/clients (MS Word)
- Electronic newsletter or blog post text. (MS Word)
Maybe a link on your website? An email to friends/family or clients? A handout at the cash register or inserted into clients purchases? A blog post on your company or personal blog? WHATEVER! We'd love to hear about it! Post a comment about how you're helping, or visit our Facebook page and share your outreach ideas. THANKS!
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