July 29, 2021

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Ponce will pay mortgages to residents who are in arrears due to COVID-19

The financial aid will be valid until December 30, 2020 or until the funds have been consumed

Aerial photo: Enzo Delgado Torres

Ponce – The COVID-19 pandemic has caused salary cuts, hours reduction and in some cases job loss, which led the Autonomous Municipality of Ponce to provide assistance for the payment of mortgages.

“The Municipality will provide financial assistance to individuals and families from Ponce that, as a result of COVID-19, have arrears in the payment of their mortgages. With this we reinforce the emotional well-being of our citizens, because there is nothing that gives a person greater stability than knowing that in times of emergency they can cling to their roof, ”Meléndez Altieri said on Monday about the project that was approved unanimously by the Municipal Legislature.

The program will be subsidized with the 2,000 million dollars of federal funds assigned to the Island as part of the CDBG-CV Program, the CARES Act for Community Development Block Grant Program Coronavirus Response Grants, to prevent, prepare for and respond to the coronavirus and those of the Coronavirus Relief Fund (CRF) also created by the CARES Act.

The financial aid will be valid until December 30, 2020 or until the funds have been consumed, it was reported in a written statement.

The mayor explained that to be eligible, the applicant must be a resident of the Municipality of Ponce and meet the following requirements, have had a total loss or reduction of income due to COVID-19, evidence that the applicant owns the residential property and that resides in it and submit certification of mortgage debt by a banking institution from March 1, 2020.

Residents who have received assistance from another federal program for this purpose are not eligible.

Based on the statistics provided by mortgage institutions in Puerto Rico, the program will provide the subsidy for financial assistance in late mortgage payment of up to a maximum of $ 1,100 per month for six months.

“All payments will be made directly to the mortgage institution and will be limited to accumulated debts from March 1, 2020 onwards. In addition, the residence must be the main residence of the family. As we identify the aid that we have available, we make them accessible to our residents ”, mentioned the first municipal president.

For more information, individuals or families can call 787-840-9200, extensions 5409 and 5404 or write to us at the e-mail: [email protected]

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