Mortgage assistance definition
Mortgage assistance means permanent financing, usually with deferred payments, used toward homebuyer costs as provided by funds pursuant to these Guidelines or from other sources. Another term for mortgage assistance is “downpayment assistance”.
Mortgage assistance means permanent financing used toward homebuyer costs, up to a maximum limit as specified in the Department’s NOFA. Another term for mortgage assistance is “downpayment assistance”.
Mortgage assistance. Level of assistance will be individualized based on each applicant’s need, providing up to $15,000 of overdue mortgage payments (inclusive of escrow for property taxes and insurance) starting with the month of April 2020. Additionally, if a household is in foreclosure court proceedings, the household may be provided up to $20,000 of assistance to clear the foreclosure (inclusive of overdue mortgage payments, escrowed property taxes and insurance, court fees, attorney fees, and other fees to clear the foreclosure. • Water Bill Assistance: Households will be provided assistance to address water bill arrears (starting with the month of April 2020). The amount of water bill assistance per household will not exceed $750. If the sewer and water bill are combined into one bill, the amount will not exceed $1,500. • Sewer-Wastewater Assistance: Households will be provided assistance to address sewer- wastewater bill arrears (starting with the month of April 2020). The amount of sewer- wastewater bill assistance per household will not exceed $375. If the sewer and water bill are combined into one bill, the amount will not exceed $1,500. • Power Bill Assistance: Households in disconnect status or imminent disconnect status that are not eligible to apply for LIHEAP or that have exhausted other options for power bill assistance (including LIHEAP) will be provided assistance to address power bill arrears (starting with the month of April 2020). The amount of power bill assistance per household will not exceed $2,000.
Examples of Mortgage assistance in a sentence
Mortgage assistance continuation until the earlier of 6 months from the Separation Date or the close of the sale of the Menlo Park property; .
More Definitions of Mortgage assistance
Mortgage assistance has the meaning set forth in Section 4.7.