Mayor Muriel Bowser and the D.C. Housing Finance Agency announced the relaunch of the city’s mortgage assistance program, D.C. MAP, on Tuesday. Borrowers who qualify can receive up to $5,000 per month to put toward their mortgages in an effort to help homeowners impacted financially by the COVID-19 crisis, according to a press release.
“We know that for many D.C. families, keeping up with their monthly mortgage payments has been a tremendous struggle during these unprecedented times,” Bowser said in the release. “By repurposing this existing assistance program, we can provide homeowners with some peace of mind and help relieve some of the financial burden during this public health emergency.”
D.C. MAP was originally launched to aid homeowners impacted by the federal government shutdown in 2018.
“At DCHFA, we always stress the importance of helping District residents retain their status as homeowners,” Christopher E. Donald, DCHFA’s interim executive director, said in the release. “The agency created D.C. MAP to provide mortgage assistance during another unexpected economic time – the federal government shutdown in 2018. DCHFA is committed to helping D.C. homeowners sustain during the COVD-19 pandemic.”
To qualify for the program, applicants must be able to document income affected by the pandemic, and prove that they are not eligible for forbearance or other types of relief offered through their mortgage servicer or federal Hardest Hit Fund programs.
Homeowners must apply for assistance on their primary residence, which has to be located in D.C., and should be up to date on their payments as of March 1, 2020, prior to when the pandemic hit the District.
Those borrowing through D.C. MAP must also be the borrowers on their home loans, and can borrow for up to six months.
In an emergency bill passed in April, D.C. previously required mortgage providers to offer payment deferrals of up to 90 days to borrowers, and Maryland and Virginia have taken similar steps. A federal foreclosure moratorium also remains in place until August 31.
