Mortgage assistance program aims to help those with COVID hardships

Published: Jan. 12, 2022 at 6:29 AM CST
Email This Link
Share on Pinterest
Share on LinkedIn

Lake Charles, LA (KPLC) - Help is coming for homeowners impacted by COVID-19. Governor Jon Bel Edwards has announced a new federally funded relief program for those behind on their mortgage and at risk of foreclosure.

Beginning January 21, homeowners earning less than 150 percent of the area median income or less than the national median income equaling $79,000 dollars, can be considered for assistance.

“We have agreements with other state agencies, so we can go and access other databases to verify income information and also work history and salary information to determine what your household income is,” Gina Campo with the Louisiana Office of Community Development said.

When applying, you must own and occupy a home in Louisiana, meet income qualifications, and you must have experienced financial hardship associated with the pandemic.

“Either since January 2020, or it could be that you were behind on your payments before January of 2020, but that it’s continued since that time through the COVID pandemic,” Campo said.

Once an application has been submitted, the Office of Community Development will work alongside mortgage providers to further determine eligibility.

“This is not a situation where you would apply and get a check in the mail,” Campo said. “We are paying your mortgage company to get you current if you’re in a delinquent state to get you reinstated and current.”

Click here to view the area median income by Parish. For more information about the program or to apply, click here.

Copyright 2022 KPLC. All rights reserved.