Boulder County to offer Emergency Homeowner Loan Program

Boulder County, Colo. – Through its Housing Counseling Program, the Boulder County Housing Authority will be participating in a nationwide foreclosure prevention program.

The Emergency Homeowner Loan Program will provide 984 Colorado homeowners at-risk of foreclosure with the opportunity to apply for an interest-free loan to help pay their monthly mortgage for up to two years or $50,000.

To qualify for the EHLP, homeowners must:

• Have experienced a reduction in income due to involuntary unemployment or underemployment due to economic conditions or a medical condition
• Be at least three months delinquent on their first mortgage and at risk of foreclosure
• Reside in the property as their primary place of residence
• Meet other qualifying program criteria including income restrictions defined by HUD, the U.S. Department of Housing and Urban Development

The BCHA’s Housing Counseling Program will serve as one of several HUD-approved housing counseling agencies in Colorado where homeowners may submit a Pre-Applicant Screening Worksheet for participation in EHLP.

The Pre-Application Screening period will be held from June 20-July 22. To complete a Pre-Applicant Screening Worksheet visit www.FindEHLP.org or call toll free at 855-FIND-EHLP (346-3345). Homeowners may also contact the Housing Counseling Program at 720-564-2279 orhcinfo@nullbouldercounty.org.

The EHLP is available in 27 states across the nation and Puerto Rico. Congress provided $1 billion to HUD as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act to implement the program.

-BoulderCounty.org-