News on Behalf of Palm Beach County: Mortgage Assistance Available
Brought to you by Palm Beach County's Department of Housing & Economic Sustainability
CONTACT:
CARES Mortgage Assistance Program
100 Australian Avenue, 5th Floor, West Palm Beach, FL 33406
(561) 233-3606 or (561) 233-3600
NOTICE OF FUNDING AVAILABILITY
Palm Beach County Department of Housing and Economic Sustainability hereby announce the availability of $20,000,000 in CARES Act funding for temporary relief to homeowners for the following:
Mortgage Assistance: CARES Act funding will provide assistance to income eligible households who are delinquent in their first mortgage and escrow payments (PITI). Additionally, funding may assist with late fees, attorney’s fees, condominium and homeowners’ association payments, special assessments, and other mortgage associated costs related to COVID-19.
Maximum Award: $10,000 (Up to four-months mortgage payments, but not to exceed $10,000)
Household Size and Income Categories to be served:
Number of Persons
|
(Moderate - 140% AMI)
|
|---|---|
| 1 | $86,100 |
| 2 | $98,420 |
| 3 | $110,740 |
| 4 | $122,920 |
| 5 | $132,860 |
| 6 | $142,660 |
| 7 | $152,460 |
| 8 | $162,260 |
Program Terms: Financial Assistance will be awarded as a grant
Applicant Selection Criteria: Applicants must complete an online application by visiting the Website at:
http://discover.pbcgov.com/hes/, Monday, June 29, 2020 – Friday, August 14, 2020. Applications will be accepted on a first come, first qualified, first served basis, subject to funding availability. Applicants must meet the program requirements, at the time of application submittal, and must be able to provide:
(1) proof of loss of income, reduction in hours, or unemployment as a result of the COVID-19 pandemic;
(2) copy of valid drivers’ license or state identification for applicant and co-applicant;
(3) copy of recent pay check stub for applicant and co-applicant (OR) a current completed verification of employment;
(4) a completed YTD profit and loss statement (if self-employed);
(5) copy of recent social security, retirement and/or disability award letter for applicant and co-applicant;
(6) most recent mortgage payment statement showing proof of the applicant’s delinquency
NOTE: Mortgage payments must have been current as of February 29, 2020. Individuals with a forbearance and/or mortgage modification plan in place will be evaluated on a case-by-case basis, and
(7) copy of homeowners’/condominium association delinquent statement (if applicable).
Additional Information:
- Homeowners who received first mortgage financing through Palm Beach County Department of Housing and Economic Sustainability, are not eligible to participate in this program.
- Property must be participants’ primary residence
- Property must be located in Palm Beach County
- Participants’ Market value of their property may not exceed $331,888 (current maximum sales price for PBC housing programs)
- Participants must be at least one-month delinquent
- Participants are required to receive mortgage delinquency default resolution counseling from an
- Approved Counseling Agency prior to disbursement of funds.
- Participants can only receive assistance once
