Help for Unemployed Idaho Home Owners

Hi everyone, I wanted to get this news out. If you unemployed or it sounds like maybe even recently underemployed you need to take at look at this. U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan approved the State of Idaho's bid to administer HUD's Emergency Homeowner Loan Program (EHLP), a bridge loan program designed to help unemployed families pay their mortgages. HUD determined Idaho's Housing and Finance Association's mortgage bridge loan program is "substantially similar" to HUD's program, thereby allowing Idaho to begin implementing the program itself. Finally sounds like a government program that may actually help some people who need it. Having it done on a local level through Idaho Housing should help as well. However, it is a loan, and if you are underwater on your house it is not going to help remedy that situation. Idaho Housing & Finance Association is ready to take applications immediately! The program will offer a declining balance, deferred payment "bridge loan" (zero percent interest, non-recourse, subordinate loan) for up to $50,000 to assist eligible borrowers with payments on their mortgage principal, interest, mortgage insurance, taxes and hazard insurance for up to 24 months. Under the program, eligible borrowers must: 1.Be at least three months delinquent in their payments and have a reasonable likelihood of being able to resume repayment of their mortgage payments and related housing expenses within two years; 2.Have a mortgage property that is the principal residence of the borrower; and 3.Demonstrate a good payment record prior to the event that produced the reduction of income. If it sounds like you may qualify give them a call, their office is in Boise, phone number (208)331-4888.