$200K Still Up for Grabs in Realtor-Sponsored Housing Relief as Deadline Nears

With the September 30 application deadline rapidly approaching, there is over $200,000 in housing relief funds remaining for distribution through the Guam Association of Realtors’ Relief Assistance Program. The CEO and Government Affairs Director of the association, Peggy Araullo Llagas, urges residents to seize this beneficial opportunity, which she highlighted in a recent address to the Rotary Club of Tumon Bay.

Originally endowed with a substantial $500,000 grant from the Realtors Relief Foundation — a subsidiary of the National Association of Realtors — the initiative seeks to alleviate housing-related financial strains for individuals affected by Typhoon Mawar. Applicants are not required to meet income, job, or household size thresholds, and even those who have previously sought Federal Emergency Management Agency assistance can apply. “This isn’t a solution for everyone, but it’s certainly a help for many,” Llagas emphasized during her talk on Tuesday.

The distribution of the relief is tailored to meet various needs. Homeowners with monthly financial obligations can avail themselves of a maximum grant of $1,250. Interestingly, those who have cleared their housing debts are also eligible, with a provision to receive up to $625. Assistance encompasses a range of housing costs including mortgage payments for primary homes damaged by the typhoon, rent due to displacement, and hotel costs incurred as a result of being displaced. The funds, however, do not extend to covering business losses, second mortgages, or other non-housing related expenses.

Eligibility criteria stipulate that applicants must be full-time residents of the US, whether as citizens or legal residents. The procedure to apply entails a visit to www.guamrealtors.com, where full details and the necessary documentation are provided. In addition, the Guam Association of Realtors has organized two in-person application events slated for September 16 and 20 at the Micronesia Mall, running from noon to 5 p.m. Email applications are also accepted at [email protected].

So far, the response to the program has been encouraging with around 400 applications received and a minimal number being rejected. Llagas reassures potential applicants of a transparent and comprehensive review process, underscoring the commitment to assist as many people as possible. “We want to ensure it works for you. Whether you apply in-person or online, each application receives meticulous attention to prevent any oversight,” she noted.

Llagas accentuated the dual mode of application — both online and offline — to facilitate a wide reach. Moreover, she stressed that the generous gesture from the National Association of Realtors is a testament to their recognition and appreciation of homeowners who have met their mortgage responsibilities.

As the deadline draws nearer, residents are urged not to miss this substantial support tailored to ease the financial burdens precipitated by Typhoon Mawar. This initiative stands as a beacon of hope and a vital resource in these challenging times, aiming to foster stability and resilience in the community.