City of Wilmington Commits Funds to Delaware Emergency Mortgage Assistance Program

October 09, 2008 – (RealEstateRama) — The City of Wilmington has fulfilled its commitment to assist with the funding of the Delaware Emergency Mortgage Assistance Program (DEMAP) by presenting a check in the amount of $100,000 to Delaware State Housing Authority (DSHA). This brings the City’s total contribution to DEMAP to $275,000. DEMAP offers low-interest loans to homeowners who have fallen behind in their mortgage through no fault of their own, such as job lay-off, divorce, or disability. DEMAP is the State’s first and only financial program to aid homeowners facing foreclosure.

DEMAP also secured funding in State allocations for FY09 in the amount of $500,000. The total funding of the program since DEMAP’s inception in 2007 has risen to $2,077,000, including $500,000 from DSHA, $75,000 from New Castle County, and $1,227,000 through the State of Delaware. To date, the program has helped 118 families throughout Delaware save their homes, including 46 Wilmington families, by providing nearly $500,000 in DEMAP funding.

“Earlier this week, I joined Lt. Governor John Carney and other community leaders at a Relief Pitcher summit to share information about how we can work together to help prevent foreclosures,” said Sandy Johnson, DSHA Director. “We want to recruit as many people as we can and get the information out that there is help available. I urge everyone to be a ‘Relief Pitcher’ so that we can reach as many families in distress as we possibly can. I also want to thank all of our partners, including Mayor Baker, for their hard work and dedication to helping Delaware’s homeowners.”

The Relief Pitchers Summit, held on September 29, 2008, was sponsored by Lieutenant Governor John C. Carney Jr.’s Task Force on Foreclosure with assistance from five cosponsors, the Delaware Banking Commission, Delaware State Chamber of Commerce, Delaware State Housing Authority, the Federation of Delaware Housing Counseling Agencies and the Federal Home Loan Bank of Pittsburgh (FHLBank), and offered expertise and advice on foreclosure issues and prevention.

“The City of Wilmington feels it is critical to assist homeowners and prevent foreclosures,” said Wilmington Mayor James M. Baker. “Keeping families together and supporting homeowners is absolutely vital to all we have done in Wilmington over the past eight years to rebuild City neighborhoods and stabilize communities.”

For more information about the DEMAP Program, please contact:
Anas Ben-Addi, Delaware State Housing Authority, (888) 363-8808 or visit the foreclosure information website at http://portal.delaware.gov/foreclosureinfo.

CONTACT FOR MORE INFORMATION:
Christina Hardin Dirksen, Chief, Community Relations
Delaware State Housing Authority
18 The Green, Dover, DE 19901
(302) 739-4263
(302) 739-3178 (Fax)
christina (at) destatehousing (dot) com

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