SOURCE: Informa Research Services, Inc.

Informa Research Services, Inc.

July 27, 2011 19:43 ET

Missed the EHLP Opportunity? Use Online Rate Tables to Find Low Mortgage Rates, Says Informa Research Services

CALABASAS, CA--(Marketwire - Jul 27, 2011) - The deadline to apply for the government program designed to help unemployed consumers avoid the threat of foreclosure was recently extended last week to help those who were hoping to apply but missed the first deadline. However, for those who want to completely avoid being stuck in this crunch, Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests consumers use online rate tables to find a low rate with which to refinance their current loan. Doing so can help homeowners lower their monthly mortgage payments significantly (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).

The U.S. Department of Housing and Urban Development extended the deadline for its Emergency Homeowner's Loan Program (EHLP) through today in an effort to better accommodate the many consumers who were interested in applying for assistance. Originally, the deadline was July 22.

However, many consumers may have difficulty qualifying for the program or even getting the necessary paperwork together in time to meet the deadline, and as a consequence may have to seek alternative methods of avoiding foreclosure. Some may be able to refinance their home loan to cut hundreds of dollars from their monthly payments by checking the latest online rate tables to find the best local mortgage rates.

These tables often feature lenders who offer rates well below the current national average. For instance, AimLoan.com currently offers a traditional 30 year fixed rate mortgage at just 4.25% with no points.

EHLP is a program administered by the federal government that will extend interest-free, forgivable loans of up to $50,000 over two years to those consumers who are in danger of being foreclosed upon as a result of loss of income through job loss or a disability that prevents them from working.

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About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research, mystery shop, and decision-support information.