By Jill Fox
Mortgage relief funds are now available to Parkland residents impacted by COVID-19.
Those who have experienced a loss of employment income can apply for mortgage assistance, which will be distributed in the form of one-time grants for qualifying residents delinquent in their mortgage payments.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a federal aid program with funds distributed to each state based on the overall population.
Each state is guaranteed a minimum of $1.25 billion, and funds must be spent in the 2020 calendar year. Local governments receiving aid must have more than 500,000 residents so that Broward County will receive the second-largest portion following Miami-Dade County.
According to The City of Parkland, mortgage assistance is made on a case-by-case basis, is dependent on the volume of applications received, and is up to the sole discretion of the City of Parkland.
“We’re hopeful that everyone who qualifies for this assistance will apply for it as soon as possible,” said Parkland Spokesperson Todd DeAngelis, “And we’re here to help them through the process any way we can.”
Other expenses, such as property taxes and insurance, are not eligible to be paid through the program, and payments will be made directly to the recipient’s financial institution.
Visit cityofparkland.org to view the eligible criteria, required documents, and an application checklist. Completed applications are due by October 30, 2020.
Broward County has also announced it will launch a CARES Act grant program to help small businesses and non-profits impacted by COVID-19.
It is designed to aid small businesses with 20 employees or less. These funds can be used to reimburse the costs of business interruption related expenditures caused by COVID-19’s required closures and/or operating restrictions. Funds are not a loan, and do not have to be paid back.
The application period is not open yet. However, businesses can visit broward.org/cares to learn more about the program, including eligibility, the application process, and technical assistance.
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