Maryland’s Emergency Mortgage Assistance Program

Homeowners who have lost income and are behind on mortgage payments are able to get valuable information about Maryland’s Emergency Mortgage Assistance Program.

Homeowners eligible for the EMA program include those who:

 Are experiencing a loss of employment income because of the economy or a medical condition. Homeowner(s) must have a current income that is at least 15% less than it was prior to the loss of employment.

 Are 3-12 months delinquent on their mortgage payments and pending foreclosure. It must be the first mortgage on the principal residence of the homeowner.

 Have a total household income equal to, or less than, 120% of the Area Median Income (AMI), including wages, unemployment benefits, and other income. (See the Pre-Application Eligibility Checklist on www.mdhope.org for AMI chart.)

 Have a reasonable likelihood (based on industry underwriting standards) of being able to resume mortgage payments within 2 years, when full employment has been regained.

Prospective applicants must meet certain prequalification requirements.

Homeowners should visit the MD HOPE website at www.mdhope.org or call the HOPE hotline at (877) 462-7555 for more information on Maryland’s Emergency Mortgage Assistance program. Questions also
can be sent to the department’s social media pages: Twitter (http://twitter.com/MDHousing) and Facebook
(http://www.facebook.com/MarylandHousing).

The program will end on 9/15/11 for receipt of applications, so act NOW!