HUD: Emergency Homeowner Loan Program

Last July 21, Congress enacted the Emergency Homeowner Loan Program.    

The law officially took effect October 1, but HUD first said it would take until late December to set it up and get going.

On Christmas Eve, a judge granted an emergency stay - to buy more time for "owner-occupied homes" slated for a Sheriff's sale.

January 1 became the next target date.  That has come and gone and still the program is still not ready.

So, now what? Fox 29's Joyce Evans reports that the Sheriff's sale was today.  Luckily, hundreds of homes were spared, for now.

This evening, the 'Foreclosure Crisis Committee" of the Philadelphia Unemployment Project met to try and figure out their next emergency move.

In a statement to Fox 29, HUD said, in part, "HUD anticipates homeowners will be able to apply for EHLP in the first quarter of 2011.