6:33
Brief
(Photo by Bastiaan Slabbers/NurPhoto via Getty Images)
New Jersey began accepting applications for up to $35,000 in mortgage assistance for homeowners impacted by the pandemic Tuesday.
The program, announced last month, is open to homeowners who can demonstrate they experienced pandemic-related financial hardship after Jan. 20, 2020, and whose income does not exceed 150% of their area’s median income.
You must own and occupy your residence to receive a loan from the Emergency Rescue Mortgage Assistance Program. You can apply here.
The program, administered by the Department of Community Affairs, is funded by $326 million in funds pulled from the federal Homeowner Assistance Fund, established with the passage of the American Rescue Plan last year.
The award is given in the form of a three-year forgivable loan. Homeowners who sell or transfer their home or stop using it as a primary residence would be responsible for repaying the loan.
The state and nonprofit New Jersey Citizen Action are providing free counseling services to aid homeowners with their applications.
Our stories may be republished online or in print under Creative Commons license CC BY-NC-ND 4.0. We ask that you edit only for style or to shorten, provide proper attribution and link to our web site. Please see our republishing guidelines for use of photos and graphics. Please see our republishing guidelines for use of photos and graphics.
Related News
