VA Governor Launches Rent And Mortgage Relief Program

VA Governor Launches Rent And Mortgage Relief Program

June 30, 2020
Richmond, Virginia skyline. Photo by STEPHEN POORE on Unsplash
Virginia Gov. Ralph Northam launched the Virginia Rent and Mortgage Relief Program that will take $50 million in federal CARES Act funding and allocate it towards helping those facing eviction or foreclosure due to the COVID-19 pandemic.
"Expanding access to safe, affordable housing has been and will continue to be a top priority of my administration, during the COVID-19 pandemic and beyond," said Northam, according to NBC12. "The Virginia Rent and Mortgage Relief Program will help Virginians experiencing financial instability as a result of this unprecedented health crisis by preventing evictions and foreclosures and keeping Virginia families safely in their homes as we battle this virus."
Some folks are wondering if $50 million will be enough. "One of the things with a severely underfunded program is you're probably going to have to make distinctions on who can actually access that money or you're just going to run out of it quickly; which means people are not going to be able to get it later in the stage," said Louisa Rich, an attorney with Legal Aid Justice Center.
In order to obtain access to the fund, eligible families must show they were unable to make payments due to the pandemic. The report revealed that monthly rend or mortgage must be at or below the 150% Fair Market Rent and gross household income needs to be at or below 80% of the area median income.
Learn more about the program.