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Deadline extended to apply for Wis foreclosure aid

Posted July 25, 2011 11:00 pm

Associated Press

MILWAUKEE — Wisconsin homeowners who are at risk of foreclosure have been given a few more days to apply for assistance through a federal program.

The initial deadline to apply for the Emergency Homeowners' Loan Program was last Friday. But officials have extended it to Wednesday.

The U.S. Department of Housing and Urban Development says it's pushing out the deadline to give people more time to apply.

Eligible homeowners can qualify for an interest-free loan up to $50,000. The money would be used to pay a portion of their monthly mortgage for up to two years.

It's intended to help homeowners who are at risk of foreclosure due to layoff, underemployment, economic hardship or a medical condition.

HUD officials have said they expect the average loan to be about $35,000.

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