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PHFA Now Accepting HEMAP Applications
Newly reinstated mortgage assistance program ready to serve struggling homeowners
The Pennsylvania Housing Finance Agency is now accepting applications from homeowners struggling to pay their mortgage. With the newly reinstated Homeowners Mortgage Assistance Program (HEMAP), these homeowners will now have the means to pay their mortgage at a time of economic uncertainty.
After 30 years of providing emergency mortgage assistance to more than 46,000 families in PA, HEMAP was eliminated in July 2011 and was not included in the governor’s 2012-13 state budget plan.
In February, directly on the heels of the announcement of a national settlement with lenders involved in servicing mortgages, I joined with my Senate Democratic colleagues to urge the state Attorney General to use funds from this settlement for immediate assistance for homeowners facing foreclosure.
As a part of the $25 billion national settlement, Pennsylvania will receive $266 million overall and a direct payment of $69 million.
Advocacy efforts by my Senate Democratic colleagues and I were the catalyst for the passage of Senate Bill 1433 into law, reinstating HEMAP and once again providing relief to tens of thousands of Pennsylvania homeowners from all corners of the state.
HEMAP will receive $12 million per year over a five-year period from settlement funds, as well as $6 million in 2012 to immediately assist the backlog of homeowners who applied for HEMAP assistance before it was eliminated.
The new law will fund mortgage assistance measures and is a great first step in continuing this critical and successful program. Now, more families will be able to stave off foreclosure and remain in their homes.
Assistance is available RIGHT NOW for at-risk homeowners. I urge those who are at least three months delinquent on their mortgage and who have received notices of foreclosure to contact PHFA today!
For more information and instructions on how to apply for HEMAP assistance, contact PHFA at 1-800-342-2397 (toll free).
|More information about HEMAP can be found at www.phfa.org
or by calling 1.800.342.2397
You can find out more specifics about the HEMAP and provide your feedback on my website at senatorhughes.com as well as on Facebook and Twitter (@SenatorHughes).
Offices of State
Senator Vincent Hughes