September 19, 2021

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Mortgage News

Permian Basin Regional Planning Commission helping West Texans with mortgage relief

The program started in July 2021 and runs until June 2022.

MIDLAND, Texas – The Permian Basin Regional Planning Commission is giving West Texans a big break.

If you qualify for their program, you can cover up to six months of your mortgage payments, either past or future payments.

“Or anytime in between. If they are two months behind we can cover May and June, we pay the current month of July, if they continue to qualify we can pay August, September and then through October,” Todd Mistrot, regional Service supervisor said.

So why is it needed here?

“We currently have 5 counties that are considered economically troubled,” said Mistrot.

That means Dawson, Howard, Pecos, Upton and Winkler are all struggling and having higher than normal poverty rates.

“Since we are in the oil and gas industry, and that is the main industry out here, the region has not only been hit by COVID, but also by the negative numbers in oil and gas prices,” Mistrot said.

What’s the catch? Just a little paperwork.

“They provide us with income records, they present their mortgage statements, they submit an application and then they also sign an information release. On the mortgage side, we check that the mortgage lender is in good shape and the mortgage lender will confirm they are the right ones Information, this is how high the payments are, how much they are in arrears, and we also document that, “said Mistrot.

When help is needed, help is on the way.

“We will do everything we can to help them, and as I said, we work with many nonprofit and other resources. said Mistrot.

click here to learn more about the program.