Connecticut Receives $33 Million In HUD Funds

Governor Dannel P. Malloy announced today that Connecticut will receive $33 million in aid from the United States Department of Housing and Urban Development. The funds, secured through the Emergency Homeowners' Loan Program, are meant to assist homeowners facing foreclosure.

The Connecticut Housing Finance Authority is currently accepting applications for this program.  Information about the program is available at the CHFA website and by calling 877-571-CHFA (2432). CHFA is also scheduling a series of statewide “housing fairs” to allow for face-to-face inquiries about the program.

Connecticut is one of five states HUD has approved to administer the Emergency Homeowner Loan Program (EHLP), a forgivable loan program designed to help unemployed or underemployed families pay their mortgages. HUD determined Connecticut's Emergency Mortgage Assistance Program, administered by CHFA, was similar enough to HUD's program to enable the State to implement this new Federal program.

"While our economy is showing signs of improvement, unfortunately it’s not fast enough for some families who are struggling to keep their houses in these tough economic times," said Malloy. "While this is a federal program, it will be implemented right here in Connecticut, allowing families who need our help the most to receive it efficiently and quickly. I encourage homeowners to contact CHFA immediately as this funding is only available for a short time,” stated Governor Malloy.

"Our goal is to help Connecticut homeowners threatened by foreclosure stay in their homes," said Dara Kovel, CHFA’s Chief Housing Officer. “We are very excited to be able to offer a safety net to Connecticut homeowners who are struggling.  This federal program provides CHFA with an additional tool to provide homeowners stability and to support Connecticut’s economic recovery."

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 U.S. Department of Housing and Urban Development Secretary Shaun Donovan. "We are pleased to get the program off the ground in Connecticut, which is already working to help keep families in their homes during difficult economic times."