There is new relief available for Colorado families facing foreclosure, according to an article today in Fox31 Denver.
The Department of Housing and Urban Development (HUD) received $1 billion to fund an emergency mortgage assistance to home Owners.
You have to apply by JULY 22nd and the selection will be treated like a lottery system. Homeowners will know if they have been successful by 15th Aug.
What this programs offers is 0% interests and a loan that helps pay overdue mortgage payments (this includes mortage payment, interest, taxes, insurance and attorney fees). The program will also pay a portion of the homeowner’s monthly mortgage payment for up to 24 consecutive months, or up to $50,000 — whichever comes first.,