New Foreclosure Grants Available

February 26, 2010 – (RealEstateRama) — Delaware State Housing Authority (DSHA) Director Anas Ben Addi today announced that a new program, the “Homeownership Grant Assistance Program” (GAP), is available to assist homeowners facing foreclosure. The $1 million grant program, a partnership between DSHA and the Department of Health and Social Services, is funded through the American Reinvestment and Recovery Act (ARRA). Eligible homeowners can receive up to $5,000 in the form of a grant to save their home from foreclosure. The program will be offered while funding remains available up to September 30, 2010.

Qualified applicants must meet federal guidelines including income requirements, have a dependent child in the home, experienced a specific crisis situation or episode of need, and are at imminent risk of becoming homeless. Interested homeowners can apply directly to the Delaware State Housing Authority.

Governor Jack Markell said, “This is another tool in the arsenal to combat foreclosure. Many hard-working homeowners are facing financial hardships through no fault of their own. Since foreclosures hurt the values of the homes around them, this should help entire neighborhoods.”

Director Anas Ben Addi stated, “DSHA, along with our partners, are on the front line of foreclosure prevention and are always working to identify new sources of funding to address this issue. These funds have been made available at a time when foreclosures are at an all-time high, meeting a critical need to keep families in their homes.”

“The Division of Social Services of the Department of Health and Social Services is pleased to be a partner in this effort,” said Rita M. Landgraf, DHSS Secretary. “We’ve begun serving more clients than ever during these tough economic times, and any support we can afford individuals in housing will enable them to sustain, and hopefully enhance, their quality of life.” Homeowners facing default or who are behind on their mortgage payments are encouraged to reach out to a HUD-approved Housing Counseling Agency to discuss all their options. Other resources include the Attorney General’s Foreclosure Hotline, (800) 220-5424, and the comprehensive website www.DEForeclosureHelp.org,

For more information about the Homeownership GAP Program, please contact DSHA directly at (302) 577-5001, toll free at 888-363-8808, or visit our website at www.DeStateHousing.com.

###

CONTACT FOR MORE INFO:
Christina Hardin, Chief, Community Relations
Delaware State Housing Authority
18 The Green, Dover, DE 19901
302/739-4263
302/739-3178 (fax)

SHARE
Previous articleDelaware State Housing Authority Offering Federal Tax Incentive to Developers of Affordable Rental Housing
Next articleState Taking Applications for $250M in Bonds for Affordable Loans