Virginia Launches Statewide Mortgage Relief Program

Virginia Launches Statewide Mortgage Relief Program

Virginia Governor Ralph Northam has announced the introduction of a statewide Mortgage Relief Program to assist families to remain in their homes and alleviate home loan delinquencies, defaults, and foreclosures caused by the COVID pandemic.

The Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funds the Mortgage Relief Program, comparable to the Virginia Rent Relief Program.

"Virginia is taking aggressive steps to help people stay in their homes," Northam said. "Owning a home is the American dream, and this new program will keep that dream alive."

The Homeowners Assistance Fund of the United States Department of the Treasury awarded Virginia more than $258 million to assist homeowners facing housing instability due to pandemic-related job losses and reductions.

"As we advance in our recovery efforts following the pandemic, securing Virginia's housing stability and assisting its residents are some of our highest priorities," said Susan F. Dewey, chief executive officer of Virginia Housing. "This initiative will protect homeowners who are at risk of losing their homes, strengthening our communities and our economy while also enhancing the lives of many Virginians. Our mission is to assist Virginians in obtaining excellent, affordable housing and fostering successful homeownership. This program directly supports our objectives by providing critical financial assistance to homeowners in need."

After Jan. 21, 2020, each eligible homeowner must have experienced a decrease in income or an increase in living expenses, and they must currently own and occupy the property as their principal residence. There are also income restrictions and other eligibility conditions. Visit the Treasury Department's website for more information about eligibility requirements.

According to the governor's office, money from the Virginia Mortgage Relief Program will be distributed directly to mortgage lenders, servicers, insurance providers, county treasurers and homeowners.

Find out more about VMRP at or call 833-687-8677  (833-OUR-VMRP).