Senator Murphy Outlines $123 Million Federally Funded Mortgage Relief Program

News release from Building Neighborhoods Together

Senator Chris Murphy held a press conference outlining the State of Connecticut’s new mortgage relief program, MyHomeCT, that assists homeowners who were financially impacted by the pandemic. Eligible applicants may receive up to $30,000 to help them with mortgage payments and real estate taxes.

The announcement took place at Building Neighborhoods Together (BNT), one of the program’s Resource Centers. This new program is being funded by a $123 million award Connecticut received from the federal American Rescue Plan Act and is being administered by the Connecticut Housing Finance Authority.

The Senator was joined by Bridgeport Mayor Joe Ganim, and CT housing market experts including CT Housing Commissioner Seila Mosquera-Bruno, Connecticut Housing Finance Authority CEO Nandini Natarajan, Building Neighborhoods Together CEO Doris Latorre, and Alliance for Community Empowerment Executive Director Dr. Monette Ferguson.

“We’ve partnered with Connecticut Finance Housing Authority (CHFA) to run the MyHomeCT program,” said Mosquera-Bruno. “[MyHomeCT] will be assisting homeowners that were financially impacted by the pandemic, up to $30,000 to help them with mortgage payments and taxes. We have 20 Resource Center locations across the state to help.”

Building Neighborhoods Together, whose corporate office was chosen to host the press conference, is one of those MyHomeCT Resource Centers and is HUD-certified, allowing BNT to provide additional financial management and planning resources to users.

“This program brings my career at BNT full circle,” explained Latorre. “When I started here 8 years ago, it was actually to start our foreclosure prevention program and since then BNT has helped over 500 families stay in their homes by helping them obtain mortgage modifications and affordable workouts.” Those wanting to know more can call BNT at (203) 290-4255

MyHomeCT is providing grant assistance to homeowners who have experienced difficulty meeting their mortgage obligations or other housing costs due to a COVID-19-related financial hardship. For homeowners who meet the eligibility requirements, this assistance may include bringing a mortgage current or making future mortgage payments.

“The intent of the [MyHomeCT] fund was really meant to mitigate some of the pandemic induced job loss and other issues exacerbated by the pandemic,” explained Natarajan.

“We’ve been talking about the importance of this program keeping people in their homes, and that is the primary purpose, but this also sends a positive message to people that are considering homeownership,” said Senator Murphy.

0
Share

One comment

  1. Is this a state with an imbalance of renters relative to homeowners truly as Senator Murphy claims? Do you think Ganim2 know this and believe it? Why have at least three Mayors in a row in Bridgeport allowed two citizen bodies to fail for want of new nominations by each Mayor? Each of them used the adjective FAIR? Fair Rent and Fair Housing. Two bodies died and yet the City continues to celebrate this incompetence, failure to follow its own established rules and ignore people in trouble or in danger of getting there? The Mayor’s family owns real estate of various types. Members of his political cabinet, also are mentioned in writings on OIB as owners of multiple rental properties worth millions.
    Are such relationships a reason why no life is re-established in these organizations and the mayor walks around with out answering such questions? More funds from the Federal government puts a smile on his face, but what about doing his part locally? I wonder if Himes, Murphy, and Blumenthal, who are frequently in the community for such people issues know how laggard this leader has become? Who knows that in his recent two terms, his political appointees have been full time employees paid by the taxpayer and allowed these worst cases to persist? No shame? Time will tell.

    0

Leave a Reply