HUD to Offer Interest Free Loans to Unemployed

The Department of Housing and Urban Development has announced that they will begin offering interest free loans to unemployed owners that qualify for the program.

EHLP will allow for home owners that have experienced a drop of 15% from involtary unemployment, economic conditions or medical emergencies to get up to $50,000 in interest free grants for up to 2 years. Their goal is to help those that have experienced great need in these difficult times.

HUD is putting up some $1 billion in hopes of helping these hard working owners, and to prevent further damage to the economy through foreclosures, and the dominoe effect of jobless people who lose their homes, credit rating, and ability to buy in the future because of it all.

You can read further details here.

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