On June 20, HUD, in connection with NeighborWorks America, launched the Emergency Homeowners’ Loan Program to help homeowners at risk of foreclosure in 27 states and Puerto Rico. The program will help assist homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment, underemployment, economic conditions, or a medical condition. Eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years or $50,000, whichever comes first. HUD Release.