Mortgage Assistance Available Up to $35K for Homeowners Impacted by COVID-19
Posted February 15, 2022The Emergency Rescue Mortgage Assistance (ERMA) program provides financial assistance for eligible homeowners who have experienced a significant decrease of income or increase of expenses due to COVID-19 and have been unable to remain current with their mortgage payments.
Applicants can receive up to $35,000 per household to cover mortgage reinstatement assistance; other housing related costs (including, but not limited to, escrow shortages, delinquent property taxes, and municipal or tax liens); and mortgage payments, inclusive of principal, interest, taxes, and homeowner’s insurance.
To qualify for assistance, a homeowner must:
- Own and occupy an eligible one- to four-unit primary residence
- Have experienced a COVID-19 related financial hardship, and have been unable to remain current on mortgage payments
- Meet household income limits
- Have been current on mortgage and property taxes as of January 2020
Visit njhousing.gov or call 855-647-7700 to learn about program guidelines, how to apply and how to obtain additional assistance from HUD-approved counseling agencies.