PBC Announces CARES Mortgage Assistance Program – Round 2 – Boca Raton’s Most Trusted News Source

APPLICATIONS ACCEPTED UNTIL MONDAY 16 NOVEMBER 2020 *

* If you received assistance during Round 1, you CANNOT request assistance through the Mortgage Assistance Program – Round 2.

Apply the CARES mortgage assistance program

Award: $ 20 million – Maximum grant: $ 10,000 +

+(Up to six months of mortgage payments)

MORTGAGE ASSISTANCE ELIGIBLE: The loan will provide assistance to eligible income families who have defaulted for at least one month in their first mortgage and escrow (PITI) payments, late fees, legal fees, condominium / HOA payments, special appraisals and other costs associated with mortgages related to COVID-19.

If the requested assistance exceeds $ 10,000, applicants will be required to pay the difference when they are notified of the amount approved by Palm Beach County.

FAMILY SIZE AND CATEGORIES OF INCOME TO SERVE:

Number of person
in family
(Moderate – 140% AMI)
(Less than or equal to)
1 $ 86,100
2 $ 98,420
3 $ 110,740
4 $ 122,920
5 $ 132,860
6 $ 142,660
7 $ 152,460
8 $ 162,260

APPLICANT SELECTION CRITERIA: Applications will be accepted on a first-qualified, first-served basis, based on the availability of funds.

REQUESTED DOCUMENTS: When submitting the application, the applicant must be able to provide the following documents:

  1. Evidence of loss of income, reduced hours or unemployment following the COVID-19 pandemic;
  2. Copy of a valid driver’s license or state ID for applicant and co-applicant;
  3. Copy of the recent pay slip for applicant and co-applicant (OR) a completed current employment verification;
  4. Completed Profit and loss account since the beginning of the year (if self-employed);
  5. Copy of the recent letter of social security, pension and / or disability allowance for applicant and co-applicant;
  6. Most recent mortgage payment statement demonstrating proof of the applicant’s delinquency;
  7. Copy of the home / condominium owners association’s delinquent statement (if applicable).
  • Mortgage and HOA payments must have been current as of February 29, 2020. Eligible applicants can receive assistance with mortgage payments and HOAs only until December 30, 2020 – 2021 mortgage assistance and HOA payments are not eligible. People with a tolerance and / or mortgage modification plan in place will be evaluated on a case-by-case basis.

ADDITIONAL INFORMATION:

  • Homeowners who have received first mortgage funding through the Palm Beach County Department of Housing and Sustainability are not eligible for this program.
  • The property must be the primary residence of the participants.
  • Property must be located in Palm Beach County.
  • Participants’ estimated value of their property cannot exceed $ 331,888 (current maximum selling price for PBC housing programs).
  • Participants IT MUST BE arrears of at least one month (more than 30 days).
  • Participants are required to receive mortgage insolvency resolution advice from an approved advisory agency prior to disbursement of funds.
  • Participants can only receive assistance once through the CARES mortgage assistance program

Telephone 561.233.3606, 561.233.3693, 561.233.3600 or e-mail to [email protected]

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