Posted by Iva Radman – email
RICHMOND, VA (WWBT) - The Federal government is offering emergency loans to homeowners in Virginia who face foreclosure because they've lost income due to a job loss, or a medical condition.
These are basically no-interest loans for up to $50,000, but not everybody qualifies for these loans.
The borrower must have lost at least 15 percent of their income to be eligible for a loan, and they must have been able to afford their mortgage payment before their income was reduced.
There are other rules too: people with second homes don't qualify.