September 19, 2021

MP Now News

Mortgage News

ICYMI: “Help Coming to Virginia Homeowners Behind on Their Mortgage”

Thanks to the Virginia Democrats and President Biden’s US rescue plan, more aid is on the way

Richmond, Virginia – As the Commonwealth continues to recover from the economic crisis caused by the COVID-19 pandemic, the Democrats continue to deliver for working families. New reports highlight how more help is on the way to Virginians – this time to homeowners struggling to keep a roof over their heads.

After Virginia received over $ 258 million in homeowner assistance from President Biden’s American Rescue Plan, Virginia launches the Virginia Mortgage Relief program to help homeowners struggling with mortgage payments.

WAVY: Helping Virginia Homeowners Who Are Behind On Their Mortgages

Homeowners struggling to pay their Virginia mortgages could find much-needed relief.

Virginia is expected to launch the Virginia Mortgage Relief Program later this year to help homeowners facing mortgage defaults, defaults, and foreclosures.

The U.S. Treasury Department has awarded the Commonwealth more than $ 258 million in home equity funds. It is part of the American rescue plan law. […]

VHDA plans to come up with a draft plan that includes a needs analysis to identify homeowners who are most vulnerable to home instability due to the COVID-19 pandemic.

According to data from the needs assessment and draft plan from the Treasury Department’s Household Aid Fund, the national mortgage default rate was 6.12 percent in the first quarter of this year.