Delaware Mortgage Relief Program to open this summer
The Delaware State Housing Authority recently announced that the Delaware Mortgage Relief Program plan received approval from the U.S. Department of the Treasury. The agency is scheduled to launch the program statewide in the next 45 days.
The Delaware Mortgage Relief Program, funded by the American Rescue Plan Act and Homeowners Assistance Fund, will provide up to $40,000 in financial assistance to eligible households that experienced a COVID-19-related financial hardship resulting in mortgage delinquency or forbearance.
“Every day, our staff works hard to help Delawareans achieve homeownership. Yet, it is important to know that is not where our support stops,” said Eugene Young Jr., DSHA executive director. “This program will allow Delawareans to stay in their homes as we continue to recover from the pandemic.”
The Delaware Mortgage Relief Program covers the following delinquencies: mortgage, property tax, chattel loan, land lease, water and sewer utilities, homeowner or condominium association fees, and homeowner insurance.
To be eligible, homeowners must meet the following requirements:
- Delaware resident who owns and occupies their home in Delaware as their primary residence
- Income at or below 150% of area median income or 100% of median income for the United States, whichever is greater
- Financial hardship after Jan. 21, 2020, such as reduced income or increased expenses
- Delinquent by at least 30 days, including any payments during a forbearance period.
To prepare for the program application, Delawareans can download the Mortgage Relief Supporting Document Checklist at decovidhousinghelp.com/mortgage-relief-program. For updates, Delawareans may go to demortgagehelp.com or call 888-303-4324.
