The Emergency Homeowners Loan Program

**Updated: MMI is no longer accepting applications for the Emergency Homeowners' Loan Program (EHLP)**

The Emergency Homeowners' Loan Program (EHLP) is a 1 billion dollar initiative that is expected to help up to 30 thousand homeowners in 27 states and Puerto Rico. 

The program is designed to help homeowners who have experienced a drop in income of at least 15 percent due to circumstances beyond their control such as unemployment or a medical condition.

Applicants who meet the program’s eligibility requirements may receive a zero interest forgivable loan that helps pay mortgage payments, including missed payments and past-due charges, for up to a maximum of $50,000.

To be eligible to receive emergency assistance, homeowners must meet certain conditions.  For example, you must have a history of good payment on your mortgage prior to your reduction in income. You must have been at least 3 months behind in your mortgage on June 1, 2011 and there can be no more than two open liens on your home.   You will learn more about the qualifications when you fill out the Pre-Applicant Screening Worksheet.

There are NO FEES for this program and that anyone trying to charge for this program should be reported it PreventLoanScams.org.

Whether or not you are eligible for emergency assistance through this program, you may be eligible for other forms of assistance and I strongly encourage you to contact a housing counselor to discuss your options.

If you do receive assistance through the EHLP, no regular monthly payment is due on your loan once the assistance has ended. Absent default under the terms of your loan documents, your outstanding loan balance will be reduced by 20 percent each year following the date your assistance ended, and until your outstanding balance reaches $0.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

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  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.