Washington, D.C. – October 5, 2010 – (RealEstateRama) — Today Wisconsin Senators Russ Feingold and Herb Kohl and Congresswomen Gwen Moore and Tammy Baldwin praised the Department of Housing and Urban Development’s (HUD) support for unemployed Wisconsinites who are at risk of foreclosure. HUD announced today that Wisconsin will receive $51,540,638 in funding from the HUD Emergency Homeowners Loan Program, which is targeted to prevent foreclosures for the unemployed. In an August 24 letter, the Wisconsin lawmakers urged HUD to ensure that Wisconsin was included as an eligible state to receive assistance through the program.
“This emergency assistance will provide much needed help for unemployed homeowners in Wisconsin who are struggling to make their mortgage payments,” Senator Feingold said. “It is important to help these struggling homeowners stay in their homes while they work to secure jobs and provide for their families.”
“People are falling into foreclosure and losing their houses at alarming rates. For some these houses have been in the family for years, for others it is the place they are raising their kids. This emergency assistance will help many people in Wisconsin keep their houses and continue their lives in the place they call home,” Senator Kohl said.
Congresswoman Moore said, “This new and important program gives families a real sense of security during these uncertain times. By helping unemployed homeowners stay in their homes, in many cases, we can prevent a bad situation from getting even worse.”
“Wisconsin’s working families have been hard-hit by the recession and slow pace of recovery,” said Congresswoman Baldwin. “I am pleased to see HUD take this important step to prevent foreclosures and help those workers who are unemployed through no fault of their own keep their homes.”
For more information on the Homeowners Loan Program visit http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-176