In a bid to support homeowners hit hard by the economic fallout of the COVID-19 pandemic and subsequent natural disasters, the City of New Orleans has announced the availability of $2 million in funding. According to the City of New Orleans press release from the city dated Sept. 16, qualified organizations are invited to manage a homeowners assistance program that aims to help residents keep their mortgages afloat.
The funds, drawn from the city’s American Rescue Plan Act Department of Administration and Planning, will go to one selected organization which will administer the mortgage relief over a 14-month period, the program is set to conclude by the end of 2025; and the application deadline for interested entities is rapid approaching on October 1. This program specifically targets low-to-moderate income households in Orleans Parish who are struggling with mortgage payments, homeowner’s and flood insurance, or property taxes, provided that the property in question is the homeowner’s primary residence, as mentioned by the City of New Orleans.
For those organizations lined up to apply, a virtual information session is scheduled for Sept. 24, which may shed further light on the selection process and the responsibilities that come with managing this significant financial lifeline. The city has also set out clear guidelines for the selected organization to ensure applicants fully understand and comply with the program’s terms and conditions, striving for maximum outreach and fairness.
A detailed approach will be adopted by the chosen organization to make certain that applicants are correctly identified and qualified as per the program’s stipulations, while also aiding them through the application steps the goal here is to balance the allocation of funds in an equitable manner across all suitable applicants. As the selection process unfolds, further details will be made public for the residents of Orleans Parish looking to apply for assistance, with updates being continuously available through the City of New Orleans official American Rescue Plan Act webpage.
