On December 30, 2021, Governor Ralph Northam announced the creation of a new Virginia Mortgage Relief Program (VMRP). Similar to the nationally recognized Virginia Rent Relief Program (VRRP), the VMRP will help people stay in their homes and help ease mortgage delinquencies, defaults, foreclosures due to the pandemic.
“Virginia REALTORS® worked closely with the Northam administration to make sure that the Rent Relief Program was the most effective in the nation,” said Martin Johnson, Virginia REALTORS® Senior Vice President of Government Relations. “We look forward to working with Northam’s office and Governor-Elect Youngkin’s administration to make sure the Mortgage Relief Program is just as impactful. The real-time feedback we get from our members and their clients on the effectiveness of these programs is instrumental in their success.”
“The Virginia REALTORS® Government Relations team did an incredible job working with law makers to ensure the success of Virginia’s Rent Relief Program. Some of our members may be unaware of the efforts taking place on their behalf on Capitol Square, but without them, these critical programs would not be nearly as effective as they are,” says Denise Ramey, Virginia REALTORS® 2022 President.
Virginia received more than $258 million through the U.S. Department of the Treasury’s Homeowners Assistance Fund to support homeowners facing housing instability resulting from the COVID-19 pandemic.
Eligible homeowners must have experienced a reduction of income or increase in living expenses after January 21, 2020 and must currently own and occupy the property as their primary residence. In addition, there are maximum income limits and other eligibility requirements. More information on eligibility requirements from the U.S. Department of the Treasury can be found here.
To apply or learn more about VMRP, visit www.VirginiaMortgageRelief.com or call 833-687-8677 (833-OUR-VMRP). Email the Virginia Government Relations team at email@example.com about our efforts.