MINNEAPOLIS (WCCO) — There is new hope for homeowners who are facing foreclosure, but they need to act fast.
A new federal loan program, called the Emergency Homeowners Loan Program, is offering up to $50,000 that homeowners might not have to pay back.
However, the deadline to apply is Friday by 5 p.m.
To qualify, homeowners must have either lost your job, had a cut in wages or health problems.
In Minnesota, there are 1,400 loans available and people will be chosen by a lottery system.
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