Delaware Mortgage Relief Program launches

DOVER, Del. – Delaware State Housing Authority officials announced on Tuesday the launch of the Delaware Mortgage Relief Program.

The program is designed to help eligible households who experienced a COVID-19-related financial hardship that resulted in mortgage delinquency or forbearance. Up to $40,000 is provided through the program to cover mortgage, property tax, chattel loan, land lease, water and sewer utilities, homeowner or condominium assosicate fees, and homeowner insurance delinquencies.

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% AMI or 100% of the Median Income for the United States, whichever is greater
• Financial hardship after January 21, 2020, such as reduced income or increased expenses
• Delinquent by at least 30 days, including any payments during a forbearance period

The Delaware Mortgage Relief Program is funded through the American Rescue Plan Act and Homeowner Assistance Fund, which the U.S. Treasury Department distributed to the state of Delaware. The $50 million received will be available until 2025 or until funds are exhausted.

For more information on the program, click here.