Racine launches Mortgage Assistance Program for homeowners
RACINE, Wis. - The City of Racine launched its COVID-19 Mortgage Assistance Program, directing $520,000 towards helping City homeowners who may be behind on mortgage and utility payments due to the pandemic.
These mortgage assistance funds are Community Development Block Grant (CDBG)-CARES Act funds.
The City is partnering with nonprofit organizations Housing Resources, Inc. (HRI) and Legal Action of Wisconsin (LAW) to screen applicants and disburse these funds to qualified City residents.
To be eligible for this assistance, the property must be either a single-family home or no more than 4 units and must be owner-occupied and located in the City of Racine. The property must also be secured by a mortgage. Homeowners seeking this assistance must have a current household income of no more than 80% of Area Median Income ($61,500 for a family of 4) and must have experienced a loss of income as a result of the COVID-19 pandemic after March 1, 2020.
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These funds will be distributed on a first-come, first-serve basis and are one-time assistance only. Eligible homeowners may be eligible for up to 6 months worth of mortgage payment assistance, and all payments will be made directly to the mortgage company.
Applicants for this mortgage assistance will be able to apply and upload documentation through a web-based application link at https://www.hri-wi.org/mortgage-assistance. For questions or additional assistance contact the Mortgage Help Line at 262-222-6688.
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