The Kentucky Unemployment Bridge Program, established through the federal Hardest Hit Fund to help unemployed and underemployed homeowners avoid foreclosure, is a first-come, first-served forgivable loan of up to $20,000 that can be used to pay delinquent house notes or current ones.
Applicants must have experienced a job loss or pay decrease since January, 2009 through no fault of their own, and they have to have dipped into their resources, down to the equivalent of a maximum of six months of house payments, said Brenda Weaver, chief program and policy officer at the Kentucky Housing Corporation. Those resources do not include retirement or pension funds.
Kentucky is one of 18 states and the District of Columbia chosen to participate in the program, based on unemployment statistics and decline in home values, Weaver said. Kentucky received nearly $149 million to help those in need.
To apply or for more information, visit www.protectmykyhome.org, or call (866) 830-7868.
Source: Kentucky.com
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