Bridge Loans for Borrowers-Update

I previously wrote on this topic, on October 9th and October 11, 2010. That was when the federal government first committed $2 billion to help Alabama homeowners catch up their past due mortgage payments, and help with future payments.  The money was not ready to be disbursed at that time, though. That had to wait until the Alabama Housing Finance Authority set up its infrastructure to handle the requests and the disbursements. AHFA thought they would be ready by the first of February.  Apparently, they are a little bit ahead of schedule.

You can now apply for this assistance. You can call 1-877-429-8182 for more information, or visit the official website at

If you think you might qualify, please start the process immediately. The money is available on a first-come, first-served basis.  When it’s gone, it’s gone. Two billion dollars seems like a lot, but it can disappear pretty quickly!