HUD Archives: News Releases

HUD No. 11-045
Lee Jones
(206) 220-5356
For Release
April 1, 2011

Idaho Housing & Finance Association is ready to take applications immediately

BOISE - U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan today approved the State of Idaho's bid to administer HUD's Emergency Homeowner Loan Program (EHLP), a bridge loan program
designed to help unemployed families pay their mortgages. HUD determined that the Idaho Housing and Finance Association's mortgage bridge loan program is "substantially similar" to HUD's program, thereby allowing the State to begin implementing the program itself.

With today's approval, the Idaho Housing and Finance Association will begin taking applications. Interested homeowners should contact the Association's housing counseling department at (877) 888-3135 for further information.

Late last year, HUD awarded $1 billion to 32 states and Puerto Rico, including $13 million to the State of Idaho, to provide emergency assistance to homeowners at risk of foreclosure due to a substantial reduction in income brought on by layoff, underemployment, or a medical condition. With today's approval, Idaho is expected to begin accepting applications from distressed homeowners in early April.

"The Emergency Homeowner Loan Program will provide limited and targeted assistance to help working families get back on their feet and keep their home while they look for work," said Secretary Donovan. "We are pleased to get
the program off the ground in Idaho, which is already working to help keep families in their homes during difficult economic times."

EHLP was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law authorized HUD's Secretary to allow funds to be administered by states that have an existing program that provides substantially
similar assistance to homeowners. HUD found Idaho is administering an equivalent program and the grant funds may
be used for reasonable administrative costs and to provide EHLP loans to homeowners in the state.

HUD's Emergency Home Loan Program will work through a variety of state and non-profit entities and will offer a declining balance, deferred payment "bridge loan" (zero percent interest, non-recourse, subordinate loan) for up to $50,000 to assist eligible borrowers with payments on their mortgage principal, interest, mortgage insurance, taxes and hazard insurance for up to 24 months.

Under the program, eligible borrowers must:

  • Be at least three months delinquent in their payments and have a reasonable likelihood of being able to
    resume repayment of their mortgage payments and related housing expenses within two years;
  • Have a mortgage property that is the principal residence of the borrower, and eligible borrowers may not
    own a second home; and
  • Demonstrate a good payment record prior to the event that produced the reduction of income.

HUD determined that 27 states - including Alaska and Washington - will use the delegated approach to program administration. Under this approach, HUD will delegate key program administration functions to an experienced and highly regarded national network of affiliated housing counseling agencies. Under the program, nonprofit housing counselors who are part of the National Foreclosure Mitigation Counseling Program administered by NeighborWorks® America will coordinate intake counseling, document preparation and outreach functions. HUD will also use it delegation authority to contract with an experienced entity to provide loan servicing and fiscal control functions such as collecting payments from homeowners, distributing payments to servicers, and managing loan balances.

HUD will announce additional details and program specifics for the delegated approach states when NeighborWorks® America launches the program in the coming weeks.


HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at and


Content Archived: July 16, 2013