DC Launches Mortgage Payment Assistance Program
DC is launching a mortgage payment assistance program for homeowners ineligible for forbearance through their loan servicers.
The District of Columbia Housing Finance Agency (DCHFA) will administer the DC Mortgage Assistance Program (DC MAP) to enable homeowners financially affected by the pandemic to borrow up to $5,000 per month for up to six months to make mortgage payments. The program is a new iteration of the mortgage assistance program created in 2018 in response to the federal government shutdown.
To be eligible, the relief must be for the borrower's primary residence, the borrower must have been current on mortgage payments as of March 1st, and the borrower must be able to prove loss of income due to the pandemic. The borrower must also be able to prove that they are ineligible for forbearance or relief through their lender or through Hardest Hit Funds.
“We know that for many DC families, keeping up with their monthly mortgage payments has been a tremendous struggle during these unprecedented times,” Mayor Muriel Bowser said in a statement. “By repurposing this existing assistance program, we can provide homeowners with some peace of mind and help relieve some of the financial burden during this public health emergency.”
See other articles related to: dchfa, mortgage assistance, mortgage forbearance, mortgage relief
This article originally published at https://dc.urbanturf.com/articles/blog/dc-launches-mortgage-payment-assistance-program/17177.
Most Popular... This Week • Last 30 Days • Ever
If there was ever a place where the old adage “one man’s trash is another man’s... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
The median price of a home in the region in April rose to $640,000, well above the pr... read »
This week's Best New Listings includes a four-bedroom home in Hyattsville, a chic Dup... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- DC-Area Home Prices Shatter Record in April
- Best New Listings: 140 Years in Hyattsville, 100 Years in Bethesda
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro