Mayor enacts emergency mortgage help program for Baltimore owners

Mayor Brandon M. Scott Thursday introduced a brand new program to assist Baltimore owners going through a mortgage disaster.

The Emergency Mortgage & Housing Assistance Program (EMHAP) will help Baltimore owners experiencing financial hardship associated to the COVID-19 pandemic whose houses are liable to foreclosures. The Scott Administration has designated $3 million in Community Development Block Grant CARES Act (CDGV-CV3) funds for this program.

Assistance will probably be offered as a grant within the type of a direct cost to the mortgage firm and could be utilized to late mortgage principal and curiosity and another late costs included within the mortgage cost (together with home-owner’s insurance coverage, property taxes, and personal mortgage insurance coverage).

Homeowners with no mortgage may obtain help for late home-owner’s insurance coverage, property taxes, and water payments. Payments could be utilized towards arrearages for any consecutive six-month interval since March 1, 2020.

To qualify for EMHAP, owners should have gross annual family revenue at or beneath 80% AMI (precedence will probably be given to candidates beneath 50% AMI), occupy the property as his/her major residence and have a mortgage with a late steadiness or, if the applicant doesn’t have a mortgage, home-owner’s insurance coverage, property taxes, or water payments with late balances.

The Baltimore City Department of Housing & Community Development (DHCD) will administer this system. The EMHAP utility is solely on-line.  Applicants can enter data and add supporting paperwork. Designated employees will confirm applicant eligibility, get hold of W9s from mortgage corporations and course of expense authorizations to difficulty funds.

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