Need help paying your mortgage? This City of Baltimore Program Could Help – CBS Baltimore

BALTIMORE (WJZ) — Homeowners in Baltimore who have been hardest hit by the COVID-19 pandemic could soon get much-needed help through a new mortgage assistance program.

Mayor Brandon Scott on Thursday announced the creation of the Emergency Mortgage & Housing Assistance Program (EMHAP) to help residents whose homes are near foreclosure.

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The program is funded with $3 million in federal grants provided by the Scott administration. It will help homeowners cover overdue mortgage and interest payments and related expenses.

It is estimated that 300-600 households will benefit from the program, which will be completed once all funds have been allocated.

“We know that too many households have almost no financial cushion to meet unexpected financial needs,” Scott said. “This is another protection we are offering as part of our broader economic recovery strategy.”

On behalf of eligible participants, the city will make direct payments to mortgage lenders to settle arrears on mortgage and interest payments, as well as homeowners insurance and property taxes.

In addition, homeowners without mortgages can get help with overdue homeowners insurance, property taxes, and water bills.

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These grants can be used for any six months since March 1, 2020, according to the mayor’s office.

To qualify for this program, homeowners must meet the following criteria:

• Annual gross household income at or below 80% of Area Median Income (AMI);
• The property in question must be the homeowner’s primary residence;
• Applicants must have past-due mortgages or home insurance, property taxes, or water bills.

In addition to these criteria, the homeowner must also show that they have experienced financial hardship due to the COVID-19 pandemic, such as: B. a loss of income.

Baltimore Housing Commissioner Alice Kennedy said the Department of Housing and Community Development is rolling out policies to help homeowners who are struggling to make ends meet due to the pandemic.

“We estimate that we can support 300 to 600 homes through this program,” Kennedy said in part.

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To apply for this program or learn more about it, Visit the city’s website.