Delaware mortgage relief program to launch this summer
A new Delaware State Housing Authority program offering mortgage assistance for First State homeowners is launching this summer.
The Delaware Mortgage Relief program will give up to $40,000 in assistance to homeowners at risk of losing their homes.
Applicants must meet income eligibility requirements and be behind at least 30 days on mortgage payments.
Laurie Jacobs, with the Delaware State Housing Authority, said the pandemic has left many homeowners struggling.
“Even as hard as you try to dig out and as much as you are doing right, it is still hard to get out of that debt. We are here to help,” Jacobs said.
Jacobs said the program is funded through the American Rescue Plan Act and the federal Homeowners Assistance Fund.
“You have to own and reside in your home in Delaware. You also have to meet income eligibility as well as be delinquent at least 30 days in your payments,” she said.
The program was greenlit by the U.S. Department of the Treasury this week.
The program will launch in the next 45 days and run into 2025.