HUDtastraphe

Congress authorized $1 billion last July to help unemployed homeowners nationwide who are at risk of
foreclosure as part of the Emergency Homeowners Loan Program (EHLP). EHLP was signed into law 180
days ago by President Obama as part of the Dodd-Frank Wall Street Reform and Consumer Protection
Act.

On October 5th, 2010 the U.S. Department of Housing and Urban Development (HUD) issued a press
release stating that: “It is HUD’s intention for the program to begin taking applications from eligible
homeowners by the end of the year.”

To date, the Pennsylvania Housing Finance Agency (PHFA) which will administer the HUD loans is still
waiting for the money from Washington.

HUD spokesman Brian Sullivan recently stated that “the target is the first quarter of this year.”

The EHLP law will provide up to $50,000 in zero-interest loans for each homeowner who qualifies, or
who is behind on their mortgage payments due to unemployment, underemployment or medical bills.

Homeowners in Pennsylvania need this money today as there are 13,000 new foreclosure notices sent
out every month to residents of the keystone state.

The situation in Philadelphia is even more dire but fortunately Judge Pamela D. Dembe, the president
judge of the Court of Common Pleas of Philadelphia has issued a 30 day moratorium for the nearly 1,500
residential properties in foreclosure.

The time for HUD to act is now. Pennsylvania families threatened with eviction in the winter of 2011
need help today.

Stephen M. Dunne, Esq.

Philadelphia Bankruptcy Lawyer
(215) 854-6342