September 17, 2021

MP Now News

Mortgage News

City to help residents with rental and mortgage assistance

LAREDO, Tex. (KGNS) – The pandemic has made it difficult for many to make ends meet, especially when it comes to keeping a roof over their heads.

The city of Laredo is doing its utmost to help those who may have difficulty paying their rent or mortgage payments while they try to recover from the effects of the pandemic.

Hundreds of people under one city can receive rental or mortgage assistance for up to a year.

“There have been cuts in hours, more medical bills paid, they have been laid off,” said Tina Martinez, director of community development. “They are not doing what they were doing in the previous pre-pandemic occupation.”

Given the many scenarios the community has faced, the city’s rent assistance program is now in round 3.

“There is a great need in the community to help our households stabilize.”

Funding for this program is no longer as limited as it was before.

“We have never received a $ 16 million surplus on a program. We estimate that we can help about a thousand households. “

Funding for this new program comes from the state and covers past, current, and future rental or mortgage payments, as well as some utility bills for up to three months.

To qualify, households must earn at least 80% of the region’s median income.

“So let me give you an example … for a family of four, you can qualify for our support as long as you earn less than 40,000.”

For those who have already received help from other programs – you can still qualify for this one.

“If they got any kind of federal aid like food stamps or social security income – SSI – that would be pre-qualification.”

The agreement is for three months, but households can benefit for up to a year.

After the three months have expired, according to the city, they can apply for an extension of the agreement again and continue to receive help.

The city encourages those who have benefited from the rental subsidy in the past to reapply.

You can click here for a link to the application.

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