MILWAUKEE — The Milwaukee County Housing Division and Housing Resources, Inc. has announced a program through CARES Act funding to support homeowners facing foreclosure.
According to the press release that was issued Monday, eligible homeowners facing mortgage delinquency or foreclosure due to financial hardships as a result of the COVID-19 pandemic may be eligible for the program.
“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,” Milwaukee County Executive David Crowley said. “Homeownership is a key social determinant of health. For the health of our residents and the health of our community, the Mortgage Assistance Program is a critical initiative.”
To be eligible, the property must be an owner-occupied dwelling consisting of one to four separate units, secured by a mortgage and located in Milwaukee County.
Some eligibility criteria also includes: the homeowner 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 must have an annualized current household income of no more than 80% of the Area Median Income; Homeowners applicant must hold legal title to the property for which they are requesting assistance; and more.
“By assisting with up to six months of mortgage payments, we are hoping to ease the financial stress for hundreds of families in our community,” James Mathy, administrator of the Milwaukee County Housing Division, said. “Our goal with the Mortgage Assistance Program is to help lower-wage workers who were hit exceptionally hard during the pandemic.”
A pre-application consists of five questions and will determine if someone qualifies.
Applications are being accepted through Dec. 18 and can be filed out online at https://www.hri-wi.org/mortagageassistance.
For questions or assistance, individuals can contact the mortgage help line at: 414-369-6914.