Connecticut homeowners facing foreclosure have until Sept. 1 to submit applications for a federal program supplying emergency loans to financially distressed homeowners, according to the Connecticut Housing Finance Authority.
The state is one five participating in the U.S. Department of Housing an Urban Development’s Federal Emergency Homeowners’ Loan Program, which awarded Connecticut $33 million for forgivable loans aimed at helping homeowners in danger of foreclosure.
The deadline for some states participating in the program was Friday but the CHFA stressed that date did not apply for Connecticut’s program.
“Our goal is to help Connecticut homeowners threatened by foreclosure stay in their homes,” said Dara Kovel, CHFA’s chief housing officer. “We have received more than 20,000 calls from homeowners facing foreclosure. The need is there, but to offer assistance to struggling homeowners, we must have their applications and all documents returned to us by September 1.”
To be eligible a homeowner must have had a 15 percent reduction in household income for medical reasons, unemployment or under-employment, and be at least 90 days delinquent on mortgage payments.
The CHFA is urging homeowners facing foreclosure to contact them or an approved counseling agency to check eligibility and submit applications for the program. A list of approved agencies is available at www.chfa.org.
“I encourage homeowners who are facing foreclosure to contact the CHFA or CHFA- approved counseling agencies immediately as this funding is only available for a short time,” Kovel said.
Kovel said homeowners can have the program’s eligibility requirements explained to them by contacting the CHFA’s customer call center at 877-571-CHFA (2432). The call center is open Monday through Friday from 8:00 a.m. to 8:00 p.m. and Saturday 9:00 a.m. to 1:00 p.m.