Applications Now Open For Rental Assistance And Foreclosure Prevention Programs In City Of Boca Raton

Press release from the City of Boca Raton:

October 16, 2020

Update: October 19, 2020

The City of Boca Raton has received an additional $230,285 in Phase 2 Coronavirus Relief Funds (CRF) from Florida Housing Finance Corporation (FHFC). When combined with the $317,322 in Phase 1 funds previously received from FHFC, the City has received a total of $547,617 in CRF funds to assist eligible City of Boca Raton homeowners and renters who have experienced a financial hardship as a result of the COVID-19 pandemic.

The maximum assistance under the guidelines established when we received the Phase I funds was $5,800 per household for the Rental Assistance and Mortgage Foreclosure Prevention Assistance programs. With the receipt of the Phase 2 funds, the maximum assistance for both programs has been increased from $5,800 to $10,000 per household.

All other program conditions and applicant requirements remain the same:

• all CRF funds must be fully expended by December 30, 2020;
• applications are only accepted via the online application on our website through November 30, 2020, pending the availability of funding;
• and applicants will be served on a first come, first qualified, first served basis.

Remember, applicants can receive assistance for affected months not covered by other agencies’ assistance programs.

For information regarding program requirements or guidelines, please call 561-544-8667 (or 561-393-7043 for the hearing impaired) from 8:00 am to 5:00 pm, Monday through Friday.

September 21, 2020

The City of Boca Raton is projected to receive $317,322 in Coronavirus Relief Funds from the Florida Housing Corporation (FHFC).

The City has approved Rental Assistance and Foreclosure Prevention Programs that can provide assistance to tenants that are delinquent on their rent payments or homeowners that are delinquent on their mortgage payments and association payments (if applicable), as well as any late fees, penalty fees and/or court costs, for the period beginning March 1, 2020 through November 30, 2020. The maximum assistance is $5,800 per household.

Requirements include:

Rental Assistance

• The tenant must have a written lease effective at the time of application;
• The tenant needed to have been current with their rent prior to March 1, 2020;
• The tenant must be at least 30 days delinquent with their rent; and
• Households cannot have liquid assets that exceed $25,000.

Foreclosure Prevention for Homeowners

• The homeowner’s mortgage(s) must have been issued by an FDIC-insured lender. Private mortgages, balloon payments and home equity lines of credit (HELOCs) are not eligible;
• The homeowner must have been current with their mortgage(s) prior to March 1, 2020;
• The homeowner must be at least 30 days delinquent with their mortgage(s);
• Households cannot have liquid assets that exceed $25,000;
• The assessed value of the property cannot exceed $350,000, based on the Palm Beach County Property Appraiser’s most recent valuation; and
• Homeowners may request assistance with delinquent association dues in addition to mortgage payment assistance, if applicable. Assistance will not be provided for association dues only.

The City is now accepting online applications for both programs as of October 1, 2020 and will continue accepting applications through November 30, 2020, pending funding availability. Eligible applicants will be served on a first-come, first-qualified, first-served basis, and may be placed on a wait list pending availability of funding.

To apply or view the program requirements or guidelines visit the CRF Program Rental Assistance and Foreclosure Prevention Programs webpage, or please call 561-544-8667 (or 561-393-7043 for the hearing impaired) Monday through Friday between 8am and 5pm.

View the:

• Boca Raton CRF NOFA Notice (PDF)

This press release was produced by the City of Boca Raton. The views expressed here are the author’s own.