MyHomeCT, a new $123 million program providing mortgage relief to Connecticut homeowners who experienced financial hardships due to the Covid-19 pandemic, is now available to state residents.
The program works with eligible homeowners who require assistance in bringing a mortgage current or making future mortgage payments. Assistance is also available for other associated housing costs including non-escrowed real estate taxes, condominium and homeowners”™ association fees, non-escrowed homeowners”™ insurance, and municipal tax liens.
Homeowners may apply for up to $30,000 in grant assistance, and payments will be made directly to the mortgage servicer or debt holder. The property must be an owner-occupied, one-to-four-unit house, condominium, townhouse or manufactured home.
The program is being coordinated through Connecticut Department of Housing and is funded by the federal American Rescue Plan Act.
“Due to many unforeseen circumstances, such as job losses or the need to care for loved ones, thousands of Connecticut homeowners are now in the situation where they need assistance or they will be in danger of losing their homes,” Seila Mosquera-Bruno, commissioner of the Department of Housing, said. “The MyHomeCT program will address a great need in our state by providing direct assistance to cure or prevent mortgage delinquencies and pay for other housing related costs.”
“We encourage homeowners who have experienced financial difficulty during the pandemic to learn more about this very important assistance program, which will provide them a much-needed lifeline back to financial recovery,” added Nandini Natarajan, executive director and CEO of the Connecticut Housing Finance Authority, said. “Our primary goal is to keep people in their homes, and we will work hard to ensure the assistance reaches eligible homeowners as quickly as possible.”
