Tacoma invests $1.43M to help keep working families impacted by COVID-19 from losing their homes
TACOMA, Wash. - The City of Tacoma is investing $1.43 million to help folks stay in their homes as concerns of foreclosures sweep across the country.
According to national numbers, about 3 million homeowners are behind on their mortgages and officials predict a possible wave of foreclosures coming due to COVID-19.
Officials say the issue is a lot of people chose to skip payments through forbearance, not realizing the payments would only add up and become due later.
"There are a lot of homeowners that are struggling and not able to make their mortgage payments," said Deena Geisen.
Geisen is the Director of homeowner services for the Tacoma-Pierce County Habitat for Humanity.
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The City of Tacoma is working alongside Habitat for Humanity to distribute the money to the community. Geisen said this new program will have a big impact.
"It does lift a financial burden off of people," she said.
The program is specifically targeting homeowners who make 80% or below the median income in Pierce County and whose jobs were impacted by COVID-19. Applicants must also live in Tacoma.
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Families selected will receive foreclosure prevention counseling, as well as up to four months of mortgage assistance with a $6,000 cap.
The application process began this week and is on a first-come, first-serve basis. If you are interested in applying, click here.
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