New loan program helps Valley families avoid foreclosure
KGBT-TV (CBS)/Rio Grande Valley, TX
11 July 2011
A new Emergency Homeowners Loan Program (EHLP) is helping homeowners who have suffered at least a 15% loss of income due to unemployment or a medical condition that forced them to get behind on mortgage payments.
The new program will give, eligible homeowners, an interest free loan, which would pay portion of the applicants’ monthly mortgage up to $50,000.
The program will pay for an applicant’s monthly mortgage including missed mortgage payments, past due charges—including principal, interest, taxes, insurances, and attorney fees.
"What is great about this program is that afterward, if you keep up your mortgage payments for the next five years, you don't have to pay back the amount of money the assisted you with,” Marla Lutz, with GreenPath Debt Solutions, said.
For more information on this loan you can call 1-888-893-2711.
You can also go to www.greenpath.com for more information on how to apply for this loan.
View TV news story at KGBT-TV.