RACINE, Wis. – The town of Racine has launched a COVID-19 mortgage relief program to help homeowners who may be behind on mortgage payments and utilities due to the coronavirus pandemic.
CARES Act funding, $520,000, will be used to help eligible homeowners.
“We know that many homeowners in the town of Racine are struggling to meet their monthly mortgage payments due to the economic hardship associated with the pandemic,” said Racine Mayor Cory Mason. “The Town of Racine is committed to helping landlords through this crisis and we hope these funds will help relieve some of the financial stress that landlords may be facing during these difficult times.
To qualify, the property must be either a single-family home or a maximum of four units and must be owner-occupied, located in the town of Racine.
The property must be secured by a mortgage and the owner’s income cannot exceed 80% of the area’s median income ($61,500 for a family of 4).
For a full list of eligibility requirements, visit here.
Funds will be distributed on a first-come, first-served basis and are only available once.
Homeowners may be eligible for up to six months of mortgage payments, with funds going directly to the mortgage company.
Owners can apply and upload documents here.
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