Fattah Secures Mortgage Relief for Unemployed in Financial Reform Legislation
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Summary
WASHINGTON, June 25 /PRNewswire-USNewswire/ -- Congressman Chaka Fattah (D-PA) is thanking his colleagues for their diligence in working to ensure the nation's unemployed are able to remain in their homes. A provision in the Financial Reform legislation, expected to be signed by the President within the week, offers a remedy to the millions of homeowners who are facing foreclosure.
The plan, which provides $1 billion to unemployed homeowners, is patterned after a highly successful program introduced by Congressman Fattah when he was a Pennsylvania state legislator. Pennsylvania's Homeowner's Emergency Mortgage Assistance Program (HEMAP) has a proven track record, and has provided $236 million to tens of thousands of unemployed workers to stave off the foreclosure process.See the full content of this document
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Fattah Secures Mortgage Relief for Unemployed in Financial Reform Legislation
Under the program, qualified homeowners will be able to borrow up to $50,000 to assist them with their mor...
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