Homeownership

HomeSaver

HomeSaver is a foreclosure prevention program that assists unemployed and underemployed homeowners who may have fallen behind on their mortgage payments. The program is split between two phases – The Mortgage Assistance Program and the Restore Assistance Program.

To apply, please visit the official HomeSaver website.

Mortgage Assistance

Key Components:

  • Lifeline Assistance – One-time payment of up to nine (9) months mortgage delinquency (PITIA); Applicant must be receiving unemployment benefits within six (6) months of application (unemployment) or have experienced an involuntary reduction of income of at least 10% within the past twelve (12) months (underemployment).
  • Mortgage Assistance – Up to twenty-four (24) months of mortgage payment assistance or a maximum of $60,000 (PITIA); Applicant must be receiving unemployment benefits within six (6) months of application (unemployment) or have experienced an in

Eligibility Requirements:

  • District of Columbia Homeowner(s) residing in the property as his/her primary residence
  • Homeowner named on the Note, Deed of Trust and/or Deed
  • Homeowner(s) who are receiving unemployment benefits at the time of application or have experienced an involuntary reduction in income of 10% or more
  • Homeowner(s) who are NOT in active bankruptcy.

Additional Resources:

Restore Assistance

Key Components:

  • Restore Assistance – One-time payment, up to $60,000, to “catch-up” on delinquent property-related expenses. Applicant must be able to sustain future payments going forward

Eligibility Requirements:

  • District of Columbia homeowner(s) residing in the property as his/her primary residence
  • Homeowner(s) whose property related delinquency is greater than $2,500
  • Homeowner(s) must have experienced an eligible involuntary financial hardship resulting in reduced income due to change in employment, medical hardship, death of a spouse/co-borrower, divorce or disability
  • If default is cured, must be able to afford future payments without additional assistance
  • Non- escrowed property taxes, such as in the case of a reverse mortgage, may be paid through the remainder of the current billing cycle.
  • Homeowner(s) gross income cannot exceed $120% Area Median Income ($132,360)
  • Homeowner(s) total housing expense payment must be 38% of gross income or less

Additional Resources:

Housing Counseling Agencies

Need help with the HomeSaver program? Reach out to one of the Housing Counseling Agencies below.

HomeSaver Success Story

Reporting Fraud

If you suspect fraudulent activity please report it to the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) online: https://www.sigtarp.gov/Pages/crimetips.aspx

Translate »