Maryland Emergency Mortgage Assistance Program

Maryland homeowners facing foreclosure will be glad to know there is a new program that can help save their homes. Maryland has received funding from the Federal government for a new program known as Emergency Mortgage Assistance (“EMA”).

How does Emergency Mortage Assistance work?

EMA caps the homeowner’s contribution towards the monthly mortgage payment at 31 percent of their current gross income and EMA pays the remaining balance of the monthly payments until certain things occur.


Gross income: $2,000.00

MOnthly mortgage payment is: $1, 000.00

Homeowner pays EMA capped payment of 31% of $2,000.00): $ 620.00

EMA pays: $380.00 towards monthly mortgage payment.

As with everything, there are eligibility requirements and conditions once one is accepted in the program. Eligibility is limited to individuals who have only being behind 3-12 months which, in my opinion, is too bad because there are a lot of deserving folks out there who deserve help! Secondly, there are income requirements depending on the county where you live. See link to Maryland Hope’s EMA page below.

EMA will make a maximum of 24 monthly payments to help the homeowner avoid forecolsure, but that is subject to other conditions such as if the homeowner defaults on their 31% payment then they can lose EMA’s help among others.

Maryland Emergency Mortgage Assistance: FREE MONEY!

The EMA loan is INTEREST FREE with NO PAYMENTS for five years! But you have to meet all the conditions. If you meet all the conditions you do not have pay back the loan! The loan balance declines by 20 percent annually untilt he Note is extinguished after five years. But, failure to comply with the conditions may trigger loan repayment.

This is a great program and a much needed resource for Maryland homeowners behind on their payments and facing foreclosure. If interested see below information about upcoming clinics to help you complete a EMA application.

For more information click here: MD Hope EMA page.

Upcoming clinics where you can get help completing an EMA application:

Wednesday June 1, 2011

3:00 to 5:00

Comprehensive Housing Assistance, Inc.

5809 Park Heights Avenue

Baltimore, MD 21215

Wednesday June 15, 2011

3:00 to 5:00 pm

To Register Call St. Ambrose: 410-366-6091

You will be contacted for a telephone eligibility screening

Mt. Lebanon Baptist Church

2812 Reisterstown Road

Baltimore, MD 21215 

Posted by Joseph K. Githuku

Disclaimer: All content is for informational purposes only. Provision of this content does not create an attorney-clienty relationship. Seek proper legal assitance before using any of the information provided herein.


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