Missed the EHLP Opportunity? Use
Online Rate Tables to Find Low Mortgage Rates, Says Informa Research
Services
(7/28/2011) CALABASAS,
CALIFORNIA – The deadline to apply for the government program designed to help
unemployed consumers avoid the threat of foreclosure was recently extended last
week to help those who were hoping to apply but missed the first deadline.
However, for those who want to completely avoid being stuck in this crunch,
Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests
consumers use online rate tables to find a low rate with which to refinance
their current loan. Â Doing so can help homeowners lower their monthly mortgage
payments significantly (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).
The
U.S. Department of Housing and Urban Development extended the deadline for its
Emergency Homeowner's Loan Program (EHLP) through today in an effort to better
accommodate the many consumers who were interested in applying for assistance.
Originally, the deadline was July 22.
However,
many consumers may have difficulty qualifying for the program or even getting
the necessary paperwork together in time to meet the deadline, and as a
consequence may have to seek alternative methods of avoiding foreclosure. Some
may be able to refinance their home loan to cut hundreds of dollars from their monthly payments by
checking the latest online rate tables to find the best local mortgage
rates.
These
tables often feature lenders who offer rates well below the current national
average. Â For instance, AimLoan.com currently offers a traditional 30 year fixed rate mortgage at just 4.25% with no
points.
EHLP
is a program administered by the federal government that will extend
interest-free, forgivable loans of up to $50,000 over two years to those
consumers who are in danger of being foreclosed upon as a result of loss of
income through job loss or a disability that prevents them from
working.
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Permission
is granted to reprint this release in part or in its entirety as long as source
credit is properly listed. About
Informa Research Services, Inc. (www.informars.com) Since
1983, Informa Research Services, Inc., has provided the financial industry's
most extensive array of market research, mystery shop, and decision-support
information.
