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Assistance of up to $ 21,000 has been announced for homeowners with mortgage delays and basic expenses

Assistance of up to $ 21,000 has been announced for homeowners with mortgage delays and basic expenses

Homeowners who are behind on mortgages, essential services or Citizens’ Union arrears starting today can apply for up to $ 21,000 in direct assistance. If they have suffered a loss due to infection and their income does not exceed $ 79,900 per year.

“Take advantage, Order quickly as quantity is limited. We understand that we can help 5,000 (homeowners), ”said Governor Pedro R. Pierre Louise announces assistance program for new homeowners.

Urgency responds, as he explains, to the fact that Puerto Rico has a disproportionate population Received $ 75.6 million, But it was found in a demand study conducted by the Housing Finance Authority (AFV) $ 232 million in aid will be needed for all homes with crimes.

The funding comes from the US Recovery Plan Act 2021 (ARPA).

Homeowners can process their application here http://register.covidhipotecas.com Or call 1-888-887-7234 for assistance in completing the application Monday through Friday from 8:00 am to 5:00 pm.

Depending on the amount, beneficiaries can avail assistance for multiple tax expenses, with the exception that the maximum per residence. $ 21,000, Pierre Louise explained. In detail, this maximum can be fully utilized to settle the offense on the first mortgage of the main house. However, the limits for other costs are different. If the assistance goes to a second mortgage, the maximum $ 3,000. Limit to pay property taxes, insurance, taxes, or delays on water or electricity services, as well as residential or civic association payments $ 9,000.

For his part, Secretary of State for Housing (DV) William Rodriguez thanked the agency’s committee for including Puerto Rico in the project, known as HAF in the United States, which “included the process of submitting a plan to the federal government. It was approved soon.”

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In turn, he recalled the plan Assist rent, Aimed at assisting those who are late in renting houses due to loss of income.

As mentioned, this CARES law is in the plan $ 325 million, of which $ 80 million has already been disbursed, benefiting more than 30,000 families.

What do I need to do to qualify?

  • Owner You must be lagging behind in at least one charge Homeowner Liabilities (Mortgage / Home Loan Payments, Property Taxes, Home Insurance, Utilities, Homeowner / Condo Association Fees, etc.)
  • Should be L. who experienced the financial crisisAfter January 21, 2020, Govt-19 was associated with infection.
  • Own and occupy your property as your RMain residence In Puerto Rico.
  • Kind of The property must be worthy (Life or personal belief).
  • The Family income should not exceed 150% The average income of the area. The Treasury requires that at least 60% of the funds be available to households with 100% Area Median income ($ 79,900) or 100% or equivalent in the United States. Owners who do not meet this requirement, however Socially backward people may be eligible for help.
  • Reside in eligible property types: Single family house, condo or mobile house (attached, not attached).
  • The balance of the loan at the time of start-up should not exceed the established limits By Fannie Mae / Freddie Mac for compatible loans.

What costs are worth it?

  • Financial assistance to address Mistake of first and second mortgage.
  • Help for Mortgage payment.
  • Homeowner tax, Insurance, Flood Insurance and Mortgage Insurance.
  • Homeowners’ Association fees or taxes, Condo Association fees or general fees.
  • I help payPending property tax To avoid homeowner tax deductions.
  • Assistance in public services such as Electricity and water.
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