The state has committed more than $130 million for mortgage relief programs, but they haven’t gotten much traction because relatively few people qualify for help.
So Gov. M. Jodi Rell has ordered an overhaul. Programs offering mortgage modifications, delinquency repayment schedule plans and direct mortgage assistance will have qualification rules relaxed to assist more families facing foreclosure.
“With many families still in danger of foreclosure, we are making major changes to our mortgage assistance programs so that more families will be eligible and can successfully apply,” the governor said in a written statement.
The CT FAMLIES plan, which is a refinance program for low-to-moderate income individuals will be expanded to allow homeowners with FHA insured mortgages to participate.
The Emergency Mortgage Assistance Program will open eligibility to allow homeowners who are 60 days delinquent to apply for assistance.
And the Homeowner’s Equity Recovery Opportunity Program will be expanded to include two-, three- and four-unit owner-occupied properties.
Mixed MessageÂ
In his “Happy New Year” letter to residents of Northland Investment Corp.’s Hartford 21, Northland chief Larry Gottesdiener describes the downtown office tower as “the nicest apartment building in New England.”
Even so, he explains, company plans to terminate valet services there Feb. 1.
And in case residents have a problem with that, he reminds them that it could have been worse. The company could have taken away their free parking.
“Hopefully, all of you were informed that free parking was a temporary lease-up concession,” he explains. “In this difficult economy, we believe that you would rather self-park than be charged for parking.”
Happy day!
