The federal government gave Vermont money to help with problems during the pandemic. The money must be used on pandemic problems, including preventing foreclosure, before December 30, 2020.
For help with missed mortgage payments, homeowners can apply for the Vermont COVID Emergency Mortgage Assistance Program through Vermont Housing Finance Agency (VHFA). The application deadline has been extended until the funding is gone.
To qualify for help, your total household income for the last 90 days must be less than $21,000 for all Vermont counties (except Chittenden). For Chittenden County your total household income for the last 90 days must be less than $24,000.
This program is available to all Vermonters with mortgage payments on their primary residence who meet the income requirements — not just those with a VHFA mortgage.
If you own a mobile home and have a loan on it, you may be eligible as well. (You may also be able to get help with past-due lot rental payments through the Rental Housing Stabilization Program.)
If you are eligible and enough funds are available, the Vermont Housing Finance Agency will make up to six monthly mortgage payments (including escrow for property taxes and insurance) to your mortgage lender.
Even if you are currently in a forbearance program and your mortgage lender has agreed to let you stop payments for now, you may still qualify for mortgage payment assistance.
Before you can get mortgage assistance payments, VHFA will need to talk to your mortgage servicer about your mortgage debt. You can help make sure that VHFA has the right contact information by calling your servicer and asking for the name and telephone number of the person VHFA should call about your mortgage. You can also send a Request for Information letter to your loan servicer, asking for contact information and giving your loan servicer permission to call VHFA directly to talk about your mortgage. Use our sample Request for Information letter.
If you need help applying for the mortgage relief payments through VHFA, contact: