August 2, 2011 |

Deadline for EHLP foreclosure prevention assistance in PA is Sept. 30

In response to some misleading news reports and confusing messages on the Internet, the Pennsylvania Housing Finance Agency stressed the deadline for homeowners in the state to apply for assistance through the Emergency Homeowners' Loan Program, or EHLP, is Sept. 30.

Various states across the country are administering the EHLP as authorized by the U.S. Department of Housing and Urban Development. The confusion over the EHLP application deadline has arisen because the program is structured differently in some states and, as a result, application deadlines vary. Some recent news reports have cited the July 22 date without clearly specifying the states where that deadline is in effect, leading to some confusion.

Pennsylvania is one of six states that ran their own foreclosure prevention programs prior to this authorization for EHLP funding. In those six states, the deadline for applications is Sept. 30. However, interested homeowners are advised to apply as soon as possible since some time is needed for application processing. With this in mind, homeowners should not wait until the end of September to apply.

To date, PHFA has received 1,697 EHLP applications, and 854 of those applications meet the requirements of the program and have been approved. The value of the EHLP loans approved so far is $32 million. After Sept. 30, Pennsylvania loses access to any EHLP funding not committed to homeowners approved for the program.

HUD announced April 1 that Pennsylvania would receive $105 million through the EHLP to help homeowners in the state who are delinquent on their mortgages and in danger of foreclosure. Since that announcement, PHFA has been running an extensive statewide public outreach campaign to make homeowners aware of this foreclosure prevention program.

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