Pennsylvania will be re-starting its assistance to homeowners with mortgage issues.
Gov. Tom Corbett said the state has received the $66.5 million cash portion of the previously announced $25 billion state-federal settlement with the nation's five largest mortgage loan servicers.
Pennsylvania's share of this money will be used to assist homeowners with various housing issues, most notably home foreclosure, through the Homeowners' Emergency Mortgage Assistance Program, or HEMAP.
"With the receipt of these funds, HEMAP will now begin accepting applications," Corbett said. "The foreclosure prevention assistance provided by HEMAP directly helps families in danger of foreclosure. This multi-year funding for HEMAP will not only help troubled homeowners, but will play a role in restoring the health of our state's housing industry."
HEMAP is slated to receive 90 percent of Pennsylvania's share of the settlement funding during a multi-year period, according to the governor's office. The remaining 10 percent is to be split between consumer protection services provided by the state Attorney General's Office and legal assistance for consumers related to housing issues.
HEMAP will receive an additional $6 million this year to address an anticipated backlog of foreclosure applicants.