MILWAUKEE — Milwaukee County announced a new mortgage assistance program Monday that uses CARES act funding to help those struggling to make mortgage payments.
The Milwaukee County Housing Division teamed up with Housing Resource Inc. to create the program amid a pandemic.
The program is specifically aimed at helping those people facing foreclosure or mortgage delinquency during the COVID-19 pandemic. Anyone who needs help can apply for assistance through Dec. 18.
“Making sure our residents who have been financially impacted by the COVID-19 pandemic are able to keep their homes is a top priority for Milwaukee County,” said Milwaukee County Executive David Crowley.
To be eligible for the program, a property must be:
- An owner-occupied dwelling consisting of one to four separate units
- Secured by a mortgage
- Located in Milwaukee County
In addition to the property having to meet certain criteria, the homeowners also must meet certain criteria. That criteria is as follows:
- The homeowner(s) must have experienced a loss of income as a result of the COVID-19 pandemic after March 1, 2020 and be able to document the income loss
- The homeowner(s) must have an annualized current household income of no more than 80% of the Area Median Income
- Homeowner(s) applicant must hold legal title to the property for which they are requesting assistance
- Mortgage payments for which assistance is requested must be at least 30 days delinquent at the time of application and due between March 2020 and December 2020
- The mortgage(s) for which assistance is requested must be a first or second mortgage on the property
To apply for the mortgage assistance program, click here.