Urgent Mortgage Aid Program

CHFA’s Emergency Mortgage Assistance Program

Introduction
Are you experiencing difficulties keeping up with your mortgage payments? The Connecticut Housing Finance Authority (CHFA) offers a lifeline through its Emergency Mortgage Assistance Program (EMAP). Designed to assist homeowners facing foreclosure or struggling financially, EMAP provides a 30-year fixed-rate loan to help you regain stability.

Understanding Financial Hardship
A financial hardship is a temporary setback beyond your control that has led to mortgage payment difficulties. These may include scenarios such as unemployment, reduced income, divorce, illness, or unexpected increases in housing expenses. However, it does not cover debts from unnecessary purchases.

Eligibility Criteria
To qualify for EMAP, homeowners must reside in the property facing foreclosure and meet certain conditions:

• Tried negotiating a repayment plan with the lender.
• Participation in the Judicial Mediation Program upon receiving a Summons and Complaint.
• Demonstrated a positive mortgage credit history with minimal late payments.
• Assurance of the ability to restore mortgage payments and repay the EMAP loan.
• Discharge from any bankruptcy proceedings.
• Prompt notification of any changes affecting eligibility.
• Annual verification of eligibility.
• Disclosure of pension and retirement funds, with some exclusions.

Types of Properties Covered
EMAP is available for various property types, including single-family homes, condominiums, properties in Planned Unit Developments (PUDs), and two-to-four-family homes. Business or commercial use of the property is not permitted.

Additional Assistance
Homeowners facing mortgage challenges are encouraged to seek guidance from housing counseling agencies to explore all available foreclosure prevention options.

Contact Information
For inquiries or assistance, reach out to the CHFA Customer Call Center at (860) 571-3500 or toll-free at (877) 571-CHFA.

Conclusion
If you’re struggling to make mortgage payments due to unforeseen financial circumstances, CHFA’s Emergency Mortgage Assistance Program offers a supportive solution to help you retain your home and regain financial stability.