This week, state and federal officials announced updates on two relief programs implemented to assist homeowners and renters who have been impacted by COVID-19.
Additional Funding for the Virginia Rent Relief Program
The Governor’s office announced today that Virginia will be dedicating an additional $524 million in new federal funding to the Virginia Rent Relief Program (RRP). The state will make $160 million of the funding immediately available to the program and provide additional funding as the need arises.
The program is being administered through the Department of Housing and Community Development (DHCD). Housing providers can access the application and find out more information on the DHCD RRP website.
Since the earliest days of this pandemic, your Virginia REALTORS® Government Relations team has, and will continue, to work directly with the Governor, the Secretary of Commerce and Trade, and the Directors of both Virginia Housing and the Department of Housing and Community Development to make sure the program works for you and your clients.
Extension of COVID-19 Forbearance and Foreclosure Protections for Homeowners
The White House announced today the extension of COVID-19-related forbearance and foreclosure protections for homeowners. The actions announced today will:
- Extend the foreclosure moratorium for homeowners through June 30, 2021;
- Extend the mortgage payment forbearance enrollment window until June 30, 2021 for borrowers who wish to request forbearance;
- Provide up to six months of additional mortgage payment forbearance, in three-month increments, for borrowers who entered forbearance on or before June 30, 2020.
More information about federal resources for homeowners and renters can be found on the Consumer Financial Protection Bureau website.
How do I apply for back-rent or additional rental assistance?
The program is being administered through the Department of Housing and Community Development (DHCD). Housing providers can access the application and find out more information on the DHCD RRP website or the Housing Virginia Landlord Website.
Virginia REALTORS® will continue providing the latest updates that impact YOUR business on the Virginia REALTORS® COVID-19 Resources & Updates Page.