The Palm Beach County Department of Housing and Economic Development is about to begin round two of its Coronavirus Community Development Mortgage Assistance (CDBG-CV) program. This program allows new applicants, impacted by COVID-19, to apply for financial assistance to help them pay overdue first mortgages, escrow payments, second mortgages, late fees, condominium payments and homeowners associations, special appraisals and other costs associated with mortgages.
Up to 6 months of assistance, not to exceed $10,000, will be provided to income-eligible households who are at least one month behind after February 29, 2020 in their mortgage, escrow payments and/or or their association payments. Aid cannot be used to cover payments already made and will be provided as a grant or forgivable loan.
All requests for assistance will be reviewed against approved criteria. To be eligible, all owners must demonstrate that the costs are directly related to COVID-19. Additional criteria include but are not limited to income eligibility, residence must be owner occupied, not under contract or listed for sale in the last 60 days, property must be in Palm County Beach and the estimated value cannot exceed $331,888.
All applications must be submitted online and will be processed on a first-come, first-qualified, first-served basis, subject to the availability of funds. Online application will be open from Monday, August 16 at 8 a.m. to Tuesday, September 7 at 11:59 p.m. Applications can be accessed at www.pbcgov.com/hed.