DC Aid Program for Homeowners with Economic Hardship Closes in Mid-May

by Nena Perry-Brown

Homeowners in DC have access to a mortgage relief program, but just for a little while longer.

The DC Housing Finance Agency's (DCHFA) HomeSaver program offers up to $60,000 to homeowners unable to keep up with their mortgage payments. To be eligible for the program, homeowners must be unemployed, underemployed, or otherwise enduring some economic hardship that has made them delinquent on their payments and vulnerable to foreclosure. 

The grants can take the form of a lump sum that makes the homeowner current and/or ongoing payments. Applications close on May 14th.

For the unemployed and underemployed, the grants can cover up to 16 months of delinquent mortgage payments and condo/HOA fees, and/or 11 months of those payments and fees moving forward, for a maximum of 24 months or through December 2021. For those experiencing financial hardship and need a lump sum to get current on their payments, "Restore Assistance" can be used to cover any homeownership-related charges that could put the homeowner at risk of foreclosure.

See other articles related to: mortgage relief, dchfa, dc housing finance agency

This article originally published at http://dc.urbanturf.com/articles/blog/dc-aid-program-for-homeowners-with-economic-hardship-closes-soon/18208

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