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Opening March 22, 2021, the COVID-19 Emergency Rental Assistance Program Phase II (CVERAP Phase II) will provide rental arrears and temporary rental assistance to low- and moderate-income households that have had a substantial reduction in income, have qualified for unemployment benefits, incurred significant costs, or experienced a financial hardship due, directly, or indirectly, to the COVID-19 pandemic. Nan McKay & Associates has been authorized by the New Jersey Department of Community Affairs to assist in the administration of CVERAP Phase II and to communicate with applicants and landlords.
Link to Apply:
The New Jersey Department of Community Affairs’ (DCA) Division of Housing and Community Resources (DHCR) created a new user-friendly eligibility screening tool designed to help New Jersey residents find available housing-related assistance programs for which they may qualify at DCA.
The DCAid tool is a quick and simple process that allows people to find out if they are eligible for housing assistance programs, utility assistance, homelessness prevention services, and other programs that will help to improve their quality of life.
The eligibility screening process is a series of questions that takes approximately 1-2 minutes to complete. Users can find out if they are eligible for DCA services that provide assistance with rent, including the Section 8 Housing Choice Voucher Program and the State Rental Assistance Program, heating costs, utility bills, removal of lead hazards in the home, Veterans Affair Supportive Housing (VASH), weatherization assistance, and homelessness prevention programs. The results, based on general income and household information entered, will provide the user with a brief description of eligible programs with contact information for the agency where the user can apply.
The DCAid program tool is available to New Jersey residents. Non-New Jersey residents are advised to contact their residing state for further information on how to access housing-related programs. People in emergency situations should dial NJ 2-1-1 for information on immediate assistance.
NEW WEBSITE PROVIDES CRITICAL INFORMATION ON MORTGAGE AND RENT CHALLENGES DURING PANDEMIC
May 2020 | consumerfinance.gov
Washington, D.C. – The Consumer Federation of America applauded the announcement today of a consolidated website providing information for consumers on mortgage and rent relief during the COVID-19 pandemic. “This consolidated site will make it much easier for consumers to get current information about their options as Congress and the Administration consider additional measures during the National Emergency,” said Barry Zigas, a Senior Fellow at CFA.
COVID-19 and Residential Mortgage Relief
The State of New Jersey is working to lessen the financial impact of COVID-19 on residents who are struggling to pay their mortgage and bills. On March 28th, Governor Murphy announced that Citigroup, JP Morgan Chase, US Bank, Wells Fargo, and Bank of America, in addition to over 40 other federal and state-chartered banks, credit unions, and servicers have committed to providing relief for consumers and homeowners in New Jersey. Since that date, many institutions have joined the effort to assist New Jerseyans by committing to this providing this relief.
|List of Financial Institutions
Providing Residential Mortgage Relief
Under this initiative, the Governor announced that New Jerseyans who are struggling with the COVID-19 crisis may be eligible for the following relief upon contacting their financial institution:
90-day grace period for all mortgage payments
Relief from fees and charges for 90 days
No new foreclosures for 60 days
No credit score changes for accessing relief
Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency?
How long will the eviction moratorium last?
Do I still need to pay my mortgage?
What if I’m struggling and cannot pay my mortgage due to COVID-19?
How do I get mortgage relief and/or forbearance?
Do I still have to pay my property taxes and insurance even though I am not paying my mortgage, and what is the process for doing so?
Additional Housing Assistance
Is there a national moratorium?
Fannie Mae and Freddie Mac will also suspend foreclosures and removals for at least 60 days for homeowners behind on their mortgages. To find out if your home mortgage is backed by Fannie Mae, Freddie Mac or an FHA insured mortgage, contact your lender and/or consult the National Low Income Housing Coalition https://nlihc.org/ which is tracking the eligible federal properties/developments. You may also use the lookup tools below:
Foreclosure Court Hearings
Can lenders still begin foreclosure proceedings during this period?
Yes, if you don’t hold a federally backed mortgage.
Will the Foreclosure Office process cases during this period?
Will the courts hear foreclosure cases during this period?
Can my utilities be shut off during the COVID-19 crisis?
Do I still have to pay for utilities and water?
DCA offers low-income households assistance with utility bills through its popular Low Income Home Energy Assistance Program (LIHEAP) – to find out if you’re eligible, receive further information or to apply go to: https://www.nj.gov/dca/divisions/dhcr/offices/docs/usfhea_fact_sheet.pdf
On March 19, 2020, Governor Murphy issued Executive Order No. 106, which states that any lessee, tenant, homeowner or any other person shall not be removed from a residential property as the result of an eviction or foreclosure proceeding. Your landlord cannot remove you from your home during this emergency.
Additionally, several major national financial institutions - including Citigroup, JPMorgan Chase, U.S. Bank, Wells Fargo, and Bank of America - are committing to not initiate foreclosure sales or eviction proceedings for at least 60 days.
The New Jersey Housing and Mortgage Finance Agency has expanded its Foreclosure Mediation Assistance Program (FMAP) to include renter and pre-foreclosure counseling through a network of housing counselors in each county.
Counseling is free, available now, and can be provided remotely to help homeowners avoid potential foreclosure. At the same time, the counseling made available to renters will guide them on how to approach discussions with their landlords on dealing with their rent situation.
On March 28, 2020, Governor Murphy announced that financial institutions will provide mortgage forbearance and financial protections for New Jerseyans facing economic hardship as a result of COVID-19. The initiative has secured support from Citigroup, JPMorgan Chase, U.S. Bank, Wells Fargo, Bank of America, and PNC Bank, in addition to over 40 other federal and state-chartered banks, credit unions, and servicers, with more financial institutions expected to sign on in the coming days. Under the proposal, New Jerseyans who are struggling financially as a result of COVID-19 may be eligible for the following relief upon contacting their financial institution:
90-Day Grace Period for Mortgage Payments: Financial institutions will offer, consistent with applicable guidelines, mortgage payment forbearances of up to 90 days to borrowers economically impacted by COVID-19. In addition, those institutions will:
No Negative Credit Impacts Resulting from Relief: Financial institutions will not report derogatory tradelines (e.g., late payments) to credit reporting agencies, consistent with applicable guidelines, for borrowers taking advantage of COVID-19-related relief.
Relief from Fees and Charges: For at least 90 days, financial institutions will waive or refund at least the following for customers who have requested assistance:
Homeowners should contact lenders directly to take advantage of this relief. These lenders are experiencing high volumes of inquiries and may recommend using online services when available. Loans held by a financial institution may be serviced by another company.
For more information on COVID-19 related mortgage relief, please visit here: https://www.state.nj.us/dobi/covid/mortgagerelief.html
Additional Housing Assistance
Visit www.nj.gov/dca/dcaid to see if you are eligible for any of the state's housing assistance programs. These include temporary assistance to households who are being evicted due to a short- term loss of income and temporary financial assistance to help pay for housing and case management and services to maintain housing. There are also programs available to help veterans, low-income families, the elderly, single-parents, and more.
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