April 8, 2011

GOVERNOR MALLOY ANNOUNCES CONNECTICUT AWARDED $33 MILLION TO HELP UNEMPLOYED HOMEOWNERS FACING THREAT OF FORECLOSURE

Homeowners should contact the Connecticut Housing Finance Authority's Call Center at 877-571-CHFA (2432) for more information

(HARTFORD, CT) - Connecticut Governor Dannel P. Malloy today announced that Connecticut will receive $33 million in aid from the United States Department of Housing and Urban Development (HUD) through the Emergency Homeowners' Loan Program to assist homeowners facing foreclosure. Applications for this program are now being accepted by the Connecticut Housing Finance Authority (CHFA). Information about the program is available at the CHFA website www.CHFA.ORG and by calling 877-571-CHFA (2432).

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 Governor 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," Dara Kovel, CHFA's Chief Housing Officer, said. "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."

Eligibility requirements will be explained to those homeowners who request information from CHFA. Connecticut homeowners interested in the program should call CHFA's Customer Call Center at 877-571-CHFA (2432). CHFA's Customer Call Center is open Monday through Friday from 8:30a.m. until 5:00p.m. Homeowners may also visit CHFA's website at www.chfa.org for more information. CHFA is scheduling a series of statewide "housing fairs" to allow for face-to-face inquires about the program. More information about the housing fairs will be made available on CHFA's website, www.chfa.org .

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For Immediate Release: April 8, 2011

Contact: Michael Ward

Connecticut Housing Finance Authority

860-571-4216 (office)

Twitter: @GovMalloyOffice

Facebook: Office of Governor Dannel P. Malloy