In the final days of the Emergency Homeowner Loan Program outreach effort, Kennebec Valley Community Action Program, MaineStream Finance a subsidiary of Penquis, Inc. and Community Concepts, Inc., have dedicated additional staff resources to homeowners residing in Penobscot, Piscataquis and Knox counties. Homeowners may complete pre-applications over the phone by calling MaineStream Finance of Penquis, Inc. determining eligibility for homeowners in crisis, including continuing informational workshops statewide. Pre-applicant screening worksheets must be submitted by this Friday, July 22.

“It’s so important in this last week for everyone to help find every potential homeowner who could be eligible. In the scheme of things, it’s only a small number of households that will be helped – but that’s over 300 Maine families who will be back on their feet. The positive ripple effects for our economy are innumerable, “said Casey Bromberg, EHLP Manager at KVCAP, in a news release.

Following Friday’s pre-application deadline, KVCAP counselors will conclude eligibility screening and submit eligible homeowners into a national lottery. More than 300 households from both metropolitan and rural areas throughout Maine will be chosen to apply for EHLP assistance. Eligible households not initially selected will be placed on a waiting list. If selected homeowners cannot provide appropriate documentation, wait-listed homeowners will have the opportunity to apply for assistance.

Upon approval, EHLP brings homeowners current on their past due mortgages. A new, lower monthly payment is determined for the homeowner to pay over the next two years, unless household circumstances substantially improve prior to the end of that time period. Following the assistance period, if the homeowner can resume full monthly payments and sustain those payments for five years, anything remaining on the EHLP assistance is forgiven.