The non-profit partner will let you know if any additional information is needed to process your application, and if approved, the amount of assistance you are approved for. Once one of the State of Colorado non-profit partners pulls your application for review, they will make a determination about your application and let you know via email, text, or the Neighborly application portal. How will I be informed of the approval or denial of my EMAP application? This can include hardships that began before Januand continued after that date, but only costs accrued after Januare eligible for EMAP assistance. This can include but is not limited to job loss, reduction in work hours, an increase in costs due to childcare, illness, or the need to care for a family member since January 21, 2020. You must have experienced a direct or indirect financial hardship such as a decrease in income or increase in living expenses as a result of the coronavirus pandemic. Once one of our non-profit partners pulls your application for review, they will change the status of your application to “Under Review.” Once the reviewing agency makes a determination about your application, they will let you know via email or through the Neighborly portal. The status of your application will read “Application Submitted” if it has been submitted by you, but not yet pulled for review by one of our non-profit partners. Why is my application still listed as “Application Submitted?” We do anticipate some special circumstances to arise through case management that will be prioritized as needed. Upper Arkansas Area Council of Governments (UAACOG)Ĭan my application be prioritized for quicker processing?Ĭurrently the only prioritization is for borrowers facing a pending foreclosure sale (e.g., an auction date).Rocky Mountain Community Land Trust (RMCLT),.Community and Economic Development Project (CEDP)/The Community Firm,.Colorado Housing Assistance Corporation (CHAC),.Our non-profit and local government partners include: We contract with non-profit and local government agency partners to complete the review and processing of applications. It can take several weeks to receive information back from your mortgage company, and a final determination won’t be made about your application until a response is received from your mortgage company. Following initial review, an electronic record is sent to your mortgage company. How long will it take to know if I’ve been approved for assistance?Įach case is different, however, most cases go through an initial review within 2-3 weeks after application submission. Chattel loan assistance (for owner occupied mobile homes).Lot rent assistance (for owner occupied mobile homes).Homeowner’s insurance payment assistance.Payment assistance for delinquent property taxes.Homeowner’s utilities (including electric, gas, remove internet service, home energy and water).Homeowner or Condominium association fees or liens.Mortgage reinstatement assistance (amounts over $30,000 require a sustainability review).Mortgage assistance (not required to be delinquent).What type of expenses can be covered by the Emergency Mortgage Assistance program/Homeowner Assistance Fund program?Įxpenses covered by the Emergency Mortgage Assistance program currently include: Loss mitigation documentation may be uploaded with your Emergency Mortgage Assistance Program application.Īdditional documentation may be requested in order to verify your eligibility. Homeowners applying for the Emergency Mortgage Assistance Program should also apply for loss mitigation through their mortgage lender. Have a loan under the conforming loan limits (non-jumbo loan) at time of origination or most recent refinance (loan limits vary by region).Have an income equal to or less than 100% of Area Median Income for the county in which they reside currently, or at the time of COVID-related financial hardship.This does not include owner-occupied properties of 5 or more units, investor-owned properties or vacation homes.Are owner-occupants of a single-family home or condominium, or a 2- 3- or 4-family home located in Colorado.The hardship could include: job loss reduction in income reduction in hours worked increased costs due to healthcare increased costs due to the need to care for family members or other issues which have impacted the household’s income.Have experienced a COVID-related impact to their finances on or after January 21, 2020.To qualify for assistance from the Emergency Mortgage Assistance Program, homeowners must complete an application and demonstrate that they:
0 kommentar(er)
