The city of Dallas, Texas is proud to announce the launch of the Dallas Mortgage Assistance Program, a new initiative designed to help homeowners in Dallas County who are struggling to make their mortgage payments. The program provides financial assistance to qualified homeowners, helping them to avoid foreclosure and stay in their homes.
The Dallas Mortgage Assistance Program is a partnership between the City of Dallas, the Dallas County Housing Authority, and the Federal Home Loan Bank of Dallas. It offers qualified home buyers in Dallas County up to $50,000 in financial assistance to help them pay their mortgage payments and avoid foreclosure. The program is available to both first-time home buyers and existing homeowners in the county, and the funds can be used for any type of mortgage loan, including those backed by the Federal Housing Administration (FHA).
In order to qualify for the program, applicants must meet certain requirements, including having an annual income of no more than 80 percent of the Dallas County median income, having a current mortgage, and not being delinquent on payments. Homeowners who are eligible for the program can receive up to $50,000 in assistance to help cover mortgage payments, and the funds can be used for up to five years.
The Dallas Mortgage Assistance Program is just one of the many initiatives created by the City of Dallas to help local homeowners. Other programs include the Dallas Homebuyer Assistance Program, which provides down payment and closing cost assistance to low- and moderate-income home buyers, and the Dallas Green Building Program, which provides incentives to developers who build green-certified homes.
The Dallas Mortgage Assistance Program is a great opportunity for Dallas County homeowners who are struggling to make their mortgage payments. It provides much-needed relief to those who would otherwise have to face foreclosure. The program is just one of many initiatives created by the City of Dallas to help local homeowners, and it is part of the city’s commitment to promoting home ownership and economic stability in the community.