Homeowner rescue program announces increased cap on assistance, lower delinquency period

CHARLESTON (WVDN) – Homeowners affected by the COVID-19 pandemic can now access more assistance through the West Virginia Homeowners Rescue Program.
Now, eligible West Virginia homeowners can receive up to $20,000 in mortgage assistance, up from $15,000. Those who need help with their down payment assistance loans can now receive $1,000, up from $500. Homeowners who are at least 60 days behind in their mortgage payments may now apply for mortgage assistance.
“West Virginia has the highest homeownership percentage in the United States. These changes will help us better meet the needs of West Virginians struggling to make payments to keep roofs over their heads and their utilities on,” said Erica Boggess, executive drector of the West Virginia Housing Development Fund, which administers the Homeowners Rescue Program. “Our experience in operating this program for the past eight months tells us that we can help more people by increasing our limits and allowing applicants to access assistance sooner. After receiving nearly 9,000 applications, we can clearly see that to ensure housing stability and to reduce the financial burden to homeowners, the program needs to pay more and provide help before a homeowner gets too far behind in their mortgage payments. These changes will allow us to do that.”
Applications that did not meet previous eligibility requirements may be reconsidered. Homeowners who were rejected but meet the new eligibility requirements and still need help should call 1-844-542-0035 to speak to a program representative about getting their applications reopened. Applicants who have already received assistance through the program are not eligible to reapply for additional assistance.
Since launching in March, the West Virginia Homeowners Rescue Program has paid nearly $10 million in federal funds to help eligible homeowners with their past-due mortgages, utilities, property taxes, homeowner’s insurance, and other housing costs. This money is tax-free to the applicant and does not need to be repaid. Financial institutions that have not signed on to participate in the program are encouraged to become part of a national effort to get borrowers caught up on their payments.
For more information, visit www.wvhomerescue.com.