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Last updated on February 2nd, 2021 at 05:48 pm
For helping residents financially impacted due to the COVID-19 pandemic, Maynard Mortgage Assistance Program (MAP) is now available, which is funded by the CARES Act.
The Mortgage Assistance Program (MAP) is a collaborative effort with the Regional Housing Services Office (RHSO), which will provide administrative support for the program.
The payments from this program will provide up to $3,000 in a one-time grant for mortgage relief to eligible Maynard residents and will be paid directly to the lender on behalf of the mortgage holder.
These would be used for past-due payments or those due in December or January 2021.
The applicant will be responsible for any remaining payment including any escrowed taxes or insurance.
Maynard residents, if are up-to-date with their property taxes and water/sewer fees, and have no outstanding violations to the town, will be eligible to apply.
Eligible applicants will also need to demonstrate financial difficulties due to the COVID-19 pandemic and have an annual income at or below 100% of the area median income, which is $119,000 for a family of four.
Eligible properties are restricted only to single-family homes or condominiums that are owner-occupied.
Other housing costs, such as condo fees, escrowed insurance or taxes, lines of credit, or second mortgages are excluded from this program.
The applications will be accepted on a rolling basis up until Friday. Dec. 18.
Reference Source: Maynard Town Administrator
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