Madison County Offers Mortgage and Rent Relief
Madison County, Georgia residents who have been negatively impacted by the Covid- 19 crisis are eligible to receive mortgage and rent relief. Christopher Myers, Georgia Rental Assistance Outreach Coordinator, and Diane Hester, Department of Community Affairs Mortgage Assistance Director, recently gave all the details regarding these funds and how to get them. Up to 18 months in rental assistance and up to $50,000.00 in mortgage help are provided to those facing difficulties as a result of the pandemics.
The Georgia Rental Assistance program (GRA) is administered by the Georgia Department of Community Affairs (DCA), and it assists qualifying tenants, landlords, and utility providers with expenses such as rent arrears, and current and future rent payments, and utility arrears payments. Applicants must reside in Georgia, have a household income of less than 80% of the Area Median Income (AMI), and be experiencing financial hardship as a result of the pandemics to be eligible. Priority is given to households earning less than half of the Area Median Income (AMI) or households with one or more individuals who have been unemployed for 90 days or more at the time of application. Madison County residents who were eligible for assistance had received $117,661 in rental relief payments as of mid-May.
The American Rescue Plan Act of 2021 also established the Georgia Mortgage Assistance Fund, which provided $354 million to the state of Georgia. Homeowners in Georgia who were impacted by the Covid-19 problem and require assistance with their mortgage and/or housing expenses can now apply for the Georgia Mortgage Assistance program. The Department of Community Affairs (DCA) is also in charge of this initiative. The maximum amount of assistance is $50,000.00, payable to the lender or loan servicer.
To be considered for help, all applicants, the mortgage, and the property must meet all eligibility conditions. Homeowners must have endured financial difficulty after January 21, 2020, and the property must be in Georgia and be the principal residence, as well as having been purchased, owned, or inherited prior to the hardship. The homeowner’s, borrower’s, and spouse’s income must be equal to or less than 100 percent of the Area Median Income in their county of residence (150 percent or less AMI for Socially Disadvantaged Individuals). Using the Area Median Income Lookup Tool, you may find out what your AMI is.