TACOMA, Wash. — The city of Tacoma is now offering financial assistance to families struggling to pay their mortgage.
Eligible families will be given foreclosure prevention counseling and up to four months of mortgage help through the new program, which launched on Monday.
The city’s Foreclosure Prevention Counseling and Mortgage Assistance Program will give up to $6,000 directly to any loan servicer, bank, or mortgage company of eligible Tacoma families needing the assistance.
To be eligible, families must be experiencing unemployment or reduced pay due to the COVID-19 pandemic and have an income at or below 80% of the area median income for Pierce County.
"If you know someone who needs the assistance, please get them to apply," said Tacoma Mayor Victoria Woodards during the State of the City address. "We're hopeful that we're going to be able to help as many families as possible in Tacoma and Pierce County."
The city allocated $1.43 million for the program.
Applications for the Foreclosure Prevention Counseling and Mortgage Assistance Program can be submitted online and will be accepted on a rolling basis, the city said. Applicants will be reviewed on a first-come, first-served basis until all of the allocated funds have been given out.
“In our community’s efforts to recover from the current public health and economic crisis, we want to make sure that our vulnerable homeowners have the support they need,” said Woodards. “We are a compassionate, resilient city and we will get through this together.”