HEADLINES

The MyHomeCT Program offers help to eligible homeowners

Connecticut has been awarded approximately $123 million to establish MyHomeCT, a program established Under the American Rescue Plan Act of 2021, and funded by the Homeowner Assistance Fund.

The goal of MyHomeCT is to cure mortgage delinquencies, and prevent foreclosures among eligible homeowners that occurred as a result of the COVID-19 pandemic. The program also includes assistance for qualified non-mortgage expenses including, but not limited to, non-escrowed real estate taxes and insurance as well as condominium or homeowners’ association fees.

The CT Department of Housing is the responsible entity for the program, and has designated the Connecticut Housing Finance Authority (CHFA) to administer it on its behalf.

ELIGIBILITY REQUIREMENTS:

  • Applicants must have experienced a COVID-19 related financial hardship after January 21, 2020, or experienced a financial hardship before January 21, 2020 which was then worsened/extended by the pandemic. 
  • Assistance for a delinquency existing from prior to January 21, 2020 is capped to three months so any amounts owed before October 2019 will not be eligible. Real estate property taxes that were assessed on the October 2018 Grand List and subsequent Grand Lists are eligible expenses. 
  • Homeowner must live in the state of Connecticut and occupy the property as their primary residence.
  • Property must be an owner-occupied 1-to-4 unit house, condominium or manufactured home.
  • Homeowners applying for mortgage assistance must have a mortgage that had a principal balance at or below the Federal Housing Finance Agency’s conforming loan limits for Fannie Mae and Freddie Mac at the time of origination.
  • Household income must be equal to or less than 150% area median income (AMI), adjusted for household size. 

THE PROGRAM CAN ASSIST WITH THE FOLLOWING:

  • Mortgage delinquencies
  • non-escrowed (not included in mortgage payment) real estate taxes (2018 Grand List forward)
  • non-escrowed (not included in mortgage payment) homeowners’ insurance and flood insurance
  • water and sewer liens
  • ground lease or lot payments                   
  • condominium and/or homeowners’ association fees
  • condominium and/or homeowners’ association special assessments
  • fees that were advanced by the loan servicer/mortgage company  on behalf of an applicant with a reverse mortgage

A homeowner may be eligible for one or more grants, not to exceed the MyHomeCT program maximum award of $30,000.

LEARN MORE:

To learn more, please visit www.chfa.org/MyHomeCT.  

This project is being supported, in whole or in part, by federal award number HAFP-0206 awarded to Connecticut by the U.S. Department of the Treasury.

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