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PA Bulletin, Doc. No. 11-1197



Homeowner's Emergency Mortgage Assistance Program; Unavailability of Funds

[41 Pa.B. 3943]
[Saturday, July 16, 2011]

 Under section 409-C of the Housing Finance Agency Law (act) (35 P. S. § 1680.409c), the Housing Finance Agency (Agency) has previously provided notice that it will have insufficient money available in the Homeowner's Emergency Mortgage Assistance Program (Fund) to accept new applications for emergency mortgage assistance on or after July 1, 2011. The notice was published at 41 Pa.B. 2789 (May 28, 2011).

 The act provides that the Agency establish a date certain, which is at least 90 days from the date of the notice, after which mortgagees shall no longer be subject to the provisions of Article IV-C of the act (35 P. S. §§ 1680.401c—1680.412c). This supplement to the notice establishes the date certain to be August 27, 2011. At any time on or after August 27, 2011, mortgagees may take legal action to enforce the mortgage without any further restriction or requirement of the act without respect to the date upon which a mortgage obligation becomes delinquent.

 This notice does not affect the requirement to give notice before accelerating the maturity of certain residential mortgage obligations, beginning any legal action including mortgage foreclosure to recover under the obligations or take possession of any security of the residential mortgage debtor for the residential mortgage obligations as provided by section 403 of the act of January 30, 1974 (P. L. 13, No. 6) (41 P. S. § 403), for which the Department of Banking, by regulation, has promulgated a model notice that may be found at 10 Pa. Code § 7.4 (relating to notice of intention to foreclose mortgage). Nor does it affect any additional notices, required by local, State or Federal laws, rules or regulations.

 Additional information on funding availability may be available at and all mortgagors and mortgagees are encouraged to visit the web site for updated status and information.

 The Agency continues to have available funds in the Federal Emergency Homeowners' Loan Program (EHLP) for qualifying mortgagors. Additional information about EHLP is available at

Executive Director

[Pa.B. Doc. No. 11-1197. Filed for public inspection July 15, 2011, 9:00 a.m.]

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