$1B homeowner program mainly benefited 3 states
HUD allowed those states, along with Delaware and Idaho, to run their own programs because they already had similar ones. HUD ran the program for the other states and contracted with housing counseling agencies to process applicants.
•HUD initially expected almost 22,000 homeowners to get help in the other 27 states and Puerto Rico. Only 27% of that goal was reached, preliminary numbers show.
Puerto Rico fared best. With funds to help 652 homeowners, it got 468 preliminary approvals, or 72%. South Dakota hit 52% of its maximum allocation.
•In five states — Utah, Iowa, Arkansas, Missouri and North Dakota — less than 10% of the expected number of homeowners received preliminary approvals. North Dakota's allocation allowed for 43 borrowers to get help; just four got preliminary approvals.
• New York state has 458 preliminary approvals — 17% of its maximum allocation for 2,633 loans. Its total will likely go up because a data transmission problem delayed some applications there, Sullivan says.
The program provides up to $50,000 in no-interest loans, which are forgiven if recipients stay in their homes five years.
HUD is closing loans now. Final numbers are expected by Jan. 1.
If you applied for a loan under the Emergency Homeowners Loan Program, USA TODAY would like to talk to you. Please e-mail: jschmit@usatoday.
Homeowner Loan Emergency - News
The program provides up to $50000 in no-interest loans, which are forgiven if recipients stay in their homes five years. HUD is closing loans now. Final numbers are expected by Jan. 1. If you applied for a loan under the Emergency Homeowners Loan
A key provision in the North Dakota Legislature's disaster aid bill would provide low-interest, unsecured loans of up to $30000 for homeowners hit especially hard by this year's flooding, the Bank of North Dakota's president said on Nov. 8.
In Washington the same Emergency Home Loan Program provided assistance to 380 homeowners. The final selection was done on a first-come basis after applicants became eligible earlier this year. On average, Idaho recipients received loans of $40000 that
Southwestern Pennsylvania homeowners got $13 million in foreclosure prevention aid as a result of the federal Emergency Homeowner Loan Program, according to the United Way, which used its 211 community help line to connect struggling borrowers to the
Snyder says that she still encourages residents to call her office even if they are not eligible for Quick Start loans. Also, the City Council is expected soon to provide $240000 in emergency loans to help tornado-damaged homeowners as well,
Minute Backing Poor Credit Loans Gain Minute Capital Allow No ...
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