Virginia Governor Ralph Northam has allocated $50 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funds to help its citizens avoid losing their homes during the COVID-19 crisis.
The "Virginia Rent and Mortgage Relief Program" will provide short-term financial assistance covering mortgage and rent payments to those who've been economically impacted by the coronavirus national emergency.
Depending on the availability of funds and household needs, the program will provide money for eligible households' mortgage or rent payments. Funds may be applied to overdue mortgage or rent payments beginning April 1, 2020.
Financial assistance is in the form of a one-time payment with the chance to get a renewal based on the availability of funding and the need for additional aid. The Department of Housing and Community Development (DHCD) will handle the program through a variety of partners, including nonprofit organizations and local governments. These organizations will receive upfront funds that they will then distribute on behalf of eligible households.
Individuals and families receiving funding will also get connected to housing counselors and receive other technical assistance as part of the program.
Eligible households must demonstrate an inability to make mortgage payments or rent due to the COVID-19 pandemic. One of the following statements must apply:
Your monthly mortgage or rent must be at or below 150% fair market rent, and eligible households must have a gross income at or below 80% of area median income (AMI). From June 29 to July 20, the program will prioritize households with current gross incomes equal to or below 50% of AMI. After July 20, families with current gross incomes at or below 80% of AMI will also be considered. Households with an unlawful detainer (eviction) action dated before June 8 get top consideration. The program will also give preference to households that aren't receiving other federal and state foreclosure or eviction protections.
To find out if you might be eligible and get contact information for the administrator of the program in your county or city, go to the Virginia Rent and Mortgage Relief Program (RMRP) website.
To learn more about the program and how it works, read this press release from the Governor's Office.
If COVID-19 has financially impacted your situation, you can find more information and resources at the Stay Home Virginia website.
Effective date: June 29, 2020