Maine HOPE - HomeOwnership Protection for unEmployment
MaineHousing
Program Overview
Unique unemployment protection included with First Home Loans. If you lose your job through no fault of your own (involuntary job loss), MaineHousing advances up to four mortgage payments including principal, interest, taxes, and homeowners insurance. The assistance becomes a no-interest junior mortgage (no monthly payments) and is repayable only when you sell, pay off, or stop using home as primary residence. Must be in good standing (current on payments) before job loss.
Eligibility Requirements
• Have MaineHousing First Home Loan\n• Involuntary job loss through no fault of your own\n• Must be current on payments before job loss
Additional Requirements
• MaineHousing loan in good standing\n• Documentation of job loss\n• Active job search
How to Apply
1. If you lose your job involuntarily, contact MaineHousing immediately\n2. Provide documentation of job loss\n3. Demonstrate active job search\n4. MaineHousing will advance up to 4 months of payments\n5. Assistance becomes no-interest junior lien\n6. Repay when you sell or pay off the home