Are you facing foreclosure or struggling to pay your mortgage?
CHFA’s Emergency Mortgage Assistance Program (EMAP) may be an option for Connecticut homeowners who are in danger of losing their home to foreclosure. The EMAP Program may provide emergency mortgage assistance or emergency lien assistance to eligible homeowners in Connecticut who have fallen behind or anticipate falling behind on their mortgage payment or non-mortgage expenses (i.e. non-escrowed property taxes, condominium/HOA association fees/assessments, water and sewer liens) because of a financial hardship beyond their control. EMAP assistance provides an initial disbursement to bring the homeowner’s delinquency current and some homeowners may also qualify to receive monthly/periodic payment assistance.
Eligible Hardships
An applicant’s inability to make the mortgage/lien payments on their primary residence must be due to an unanticipated financial hardship caused by circumstances beyond their control. Eligible hardships include, but may not be limited to the following:
- Unemployment or underemployment of one or more of the homeowners;
- A loss, reduction or delay in Social Security, public assistance, pensions, disability, annuity or retirement benefits;
- Divorce or an unanticipated loss of support payments;
- Disability, illness or death of a homeowner;
- An unanticipated significant rise in housing expenses (i.e. mold remediation, out of pocket costs for a furnace or roof, flood, etc.;)
- Expenses related to the disability, illness or death of a member of the homeowner's family.
Applicant must provide documented evidence that the hardship was beyond their control.
Eligibility Requirements
- Applicant must prove the financial hardship.
- If an applicant has received a Notice to Foreclose they must work with their mortgage lender to attempt to resolve the mortgage delinquency before applying for EMAP.
- Applicant must be the borrower and owner-occupant on the home.
- Applicant must disclose all assets for each household member; any household assets over $100,000 must be contributed toward the mortgage delinquency.
- Applicant must have a favorable mortgage credit history for two years prior the cited hardship; no more than four 30 day late payments.
- Reasonable expectation that the applicant can sustain payments after EMAP assistance.
- The total amount of EMAP assistance cannot exceed 60 months; the 60 month term includes the months when the delinquency first began.
Repayment Requirements
Repayment of the EMAP assistance is deferred until the homeowner:
- Transfers title to the residential real property, other than a transfer to another mortgagor pursuant to a divorce or death of a homeowner;
- Ceases to occupy the residential real property as a principal dwelling;
- Obtains cash out/new mortgage loan financing, other than for home improvements for repairs necessary to preserve the property.
Questions?
Please Contact EMAP Customer Service at (860) 571-3500 with any questions related to the EMAP Program.
To discuss all foreclosure prevention options available, please contact the nearest CHFA Participating - HUD approved housing counseling agency.