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Description: Virginia will soon launch the Virginia Mortgage Relief Program, which will provide homeowners with assistance to prevent and/or ease mortgage delinquencies, defaults, foreclosures and displacement of homeowners experiencing financial hardship due to the pandemic. Financial hardship could include an increase in living expenses, child care, change in household size, job loss or reduction in income, etc. The Commonwealth of Virginia expects to receive approximately $250 million in American Rescue Plan Act funds through the U.S. Department of Treasury. These funds are intended to support homeowners facing housing instability resulting from the COVID-19 pandemic. Virginia Homeowners will be able to request assistance when the program launches in January 2022.
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Subject: Virginia Housing.
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