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Overview
The Emergency Mortgage Assistance Program (EMAP) provides temporary monthly mortgage payment assistance for up to five years to eligible Connecticut homeowners who are
facing foreclosure due to a financial hardship. An EMAP loan is secured by a fixed-rate, subordinate mortgage on the homeowner’s residence. Only homeowners who's primary
mortgage is not insured by the Federal Housing Administration (FHA) are eligible for this program.
It is important to note that EMAP loans must be repaid. The repayment of an EMAP mortgage starts when the homeowner’s financial condition sufficiently improves.
CHFA is committed to helping Connecticut’s homeowners who are facing financial hardship as a result of circumstances beyond their control. Homeowners who believe they might be
eligible for an EMAP loan should apply directly to CHFA. (See, CHFA Customer Call Center for contact information.)
Follow the links below for more information regarding the Emergency Mortgage Assistance Program.
Generally, EMAP assists Connecticut homeowners who are facing foreclosure, are 60 days delinquent, have received a notice of intent to foreclose from their Lender, or anticipate becoming
60 days delinquent on their mortgage. (Because EMAP has many technical requirements, homeowners interested in applying for this program should contact the CHFA Customer Call
Center. )
Eligible borrowers must demonstrate a generally favorable credit history prior to their financial hardship.
A borrower’s mortgage payment history, prior to the onset of the financial hardship, must be favorable. In addition, the borrower must be fully discharged from any bankruptcy actions.
z What circumstances would be viewed as “beyond the homeowner’s control” and would justify a claim of “financial hardship”?
Circumstances “beyond the borrower’s control” that lead to a significant reduction in aggregate household income may include, but are not limited to, periods of involuntary
underemployment or involuntary unemployment of a homeowner such as furloughs, lay-offs and reductions in hours; or a loss, reduction or delay in receipt of private or public
benefits such as pension, annuity, disability or other retirement benefits, Social Security or public assistance, divorce, or loss of child support.
In addition, expenses related to the disability, illness, or death of a member of the mortgagors family or uninsured damage to the mortgage property which affects livability and
necessitates costly repairs may be circumstances that lead to an eligible financial hardship.
Finally, a significant increase in the dollar amount of the required monthly mortgage payment may also constitute a “financial hardship” under this program.
Please note: The accumulation of installment debt, like credit card debt, that is for recreational or non-essential purposes would not be considered an acceptable “financial hardship”
under this program.
CHFA must be able to conclude that an eligible borrower can demonstrate that he/she can repay the EMAP loan.
Eligible borrowers must demonstrate that they have a reasonable expectation that they will be able to make timely payments towards both their primary mortgage(s) as well as their
EMAP loan at the end of the EMAP assistance period.
What types of mortgages are eligible for an Emergency Mortgage Assistance Program loan?
Mortgages eligible for EMAP are first and/or second liens on an eligible borrower’s primary residence that are not insured by the FHA.
What types of property are eligible for an Emergency Mortgage Assistance Program loan?
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Property eligible for the Emergency Mortgage Assistance Program (EMAP) are homes secured with non-FHA-insured mortgages that are facing foreclosure due to the borrower’s financial
hardship.
To be eligible, the property secured by the mortgage must be the primary residence of the applicant and not be recreational, vacation, investment, commercial or rental property. No part of a
home eligible for this loan may be designed for commercial purposes.
In addition, the property must meet one of the definitions listed below:
z Single-family home
z Two- to four-family home, as long as the borrower is an owner-occupant of one of the units
z Condominium or Planned Unit Development (PUD)
What is the maximum monthly assistance you can receive under the Emergency Mortgage Assistance Program?
Homeowners may be eligible to receive a maximum of 60 consecutive or non-consecutive months of emergency mortgage assistance from CHFA. (See, Maximum Monthly EMAP Payment
Chart.)
When do you have to repay the Emergency Mortgage Assistance Program loan?
The borrower is required to repay the EMAP loan when the borrower’s financial condition improves.
What else should you know about an Emergency Mortgage Assistance Program loan?
Please note: An EMAP borrower can become ineligible for continued EMAP assistance before the repayment of his EMAP loan comes due. If a borrower’s financial condition improves
sufficiently enough to place him out of the program, but not enough that his household expenses are 35% or less of his aggregate family household income, then CHFA does not require
that the borrower begin to repay the EMAP loan.
“Household expenses” include the monthly required payment of principal and interest on the mortgage, property taxes, heat (oil or gas), electricity, home insurance and condominium
fees, if applicable.
You cannot take out any other loans against your home while you are receiving EMAP assistance.
CHFA does not allow EMAP borrowers to borrow against their residence during the period of EMAP assistance unless CHFA provides written consent.
If you pay off a pre-existing mortgage on your home, you may be required to increase your share of the monthly mortgage payment by the same amount.
CHFA will re-determine the borrower’s required contribution towards the monthly mortgage payment in the event that the borrower pays off existing liens and frees up finances that can
be put toward the monthly housing payment.
You may be able to reapply for EMAP assistance after six months.
A homeowner who has previously received EMAP assistance may reapply if the mortgage on the home has been reinstated and the homeowner has not been delinquent for at least six
consecutive months immediately following the reinstatement.
Homeowners that are unable to reach an agreement with their lender to correct the current delinquency or who are unable to honor an agreement with their lender may be eligible to apply for
EMAP assistance.
Homeowners may start the application process by contacting CHFA’s Customer Call Center which will assess their program eligibility and provide guidance through the next steps in the
EMAP application process.
Approved applicant will enter into an “Emergency Mortgage Assistance Agreement” with CHFA that outlines the amount, terms and conditions of the assistance. Applicants who receive a
negative determination of eligibility for EMAP have the right to request an appeal of the determination and present additional supporting documentation.
Please note: EMAP applicants are required to provide CHFA with documentation that establishes their financial hardship, aggregate family income, monthly housing expense, assets and
liabilities, current mortgage insurance, principal place of residence and mortgage payment history as well as other financial records, as needed.
For questions or additional information, prospective EMAP borrowers should contact CHFA’s Customer Call Center.
Mailing Address:
Connecticut Housing Finance Authority
Attn: CHFA Call Center
999 West Street
Rocky Hill, Connecticut 06067
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Additional information
The following documents are related to the EMAP Program. To open and view the document, click on the document title. Please note that some documents may need client software to view
the document.
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