Unemployed Kansas City homeowners may be eligible for emergency homeowners' loan program

The Department of Housing and Urban Development will offer interest-free loans to aid unemployed borrowers with their mortgage payments in 32 states (including Kansas and Missouri) through its Emergency Homeowners' Loan Program.    

Home owners who are eligible for the program will be able to qualify for up to $50,000 in interest-free loans for up to two years. Home owners who have had a drop in income of at least 15 percent from involuntary unemployment or underemployment due to economic conditions or a medical emergency are eligible for the program.    

The program will "help families keep their homes while looking for work or recovering from illness," says HUD Secretary Shaun Donovan. HUD is providing $1 billion to implement the program. For eligibility requirements, visit the HUD web site.


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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty

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