Hoyer Announces $40 Million for Maryland as Part of Emergency Homeowner Loan Program |
![]() |
![]() |
![]() |
Monday, 04 October 2010 23:00 |
Funding Provided Under the Wall Street Reform and Consumer Protection Act will Help Families Facing Foreclosure WASHINGTON, DC – Today, Congressman Steny H. Hoyer (MD-5) announced that the U.S. Department of Housing and Urban Development (HUD) awarded Maryland with nearly $40 million under the Emergency Homeowner Loan Program, to help responsible families who are at risk of foreclosure due to involuntary unemployment, underemployment, or a medical condition, pay their mortgages and stay in their homes while they seek employment. The funding is provided under the Wall Street Reform and Consumer Protection Act. “Today’s announcement comes at a time when many responsible Maryland families and individuals are facing foreclosure due to circumstances out of their control, so I am pleased that the Administration and Congress worked to ensure that these critical investments will benefit communities in need as a result of the weakened economy,” stated Congressman Hoyer. “Preventing home foreclosures is necessary to improving our long-term economic stability, but it is clear that we must do more. As long as foreclosures continue to impact our community, I will continue working to ensure that families have every available resource to help them stay in their homes.” The Emergency Homeowner Loan Program will provide up to 24 months in mortgage assistance to responsible homeowners who are at risk of foreclosure and have experienced a substantial reduction in income due to involuntary unemployment, underemployment, or a medical condition. The Obama Administration and Congress have fought to help families impacted by the economic and housing crisis stay in their homes. In addition to today’s announcement, Maryland families have benefited from Administration and Congressional efforts to help those facing foreclosure, including:
In addition, Congressman Hoyer has long been involved in efforts to help Fifth District families facing foreclosure and regularly hosts events to help homeowners and advocacy groups address local housing challenges. Since the beginning of the housing crisis, Congressman Hoyer has:
### |