Local organizations distribute Virginia Rent and Mortgage Relief funds
LYNCHBURG, Va. (WDBJ) - “Now leasing” says a sign outside of a building in downtown Lynchburg.
For those affected by the coronavirus pandemic who live in spots like this, new help is available.
“This program is designed to support and ensure housing stability across the commonwealth during the coronavirus pandemic,” said Shawne Farmer, Interfaith Outreach Association executive director.
Virginia has launched the Rent and Mortgage Relief Program.
The program has $50 million in CARES Act funding.
It aims to help pay off rent or mortgages for those who got behind due to the pandemic.
There are some basic eligibility requirements, like loss of income due to the pandemic.
Jo Nelson with Total Action for Progress in Roanoke says the program not only helps residents, but who their home payments go to as well.
“There are a lot of landlords and property owners who have been without funding and without rent payments since March or April and to be able to give these business-people back part of their income so they can re-invest in their rental property is also critical,” said Nelson.
Local funds distributors like TAP and Lynchburg-based Interfaith Outreach Association will talk with landlords about their tenants’ debt.
From there, they can strike a deal to either pay half of the debt and get half forgiven, or pay half the debt and the other half get restructured as a six-month payment plan for the tenant.
“Once we get the information from the landlord and they agree to one of the two options, then we cut the check to the landlord,” said Farmer.
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