The Valley Housing Fund (VHF) and Gunnison Valley Regional Housing Authority (GVRHA) have launched the Emergency Mortgage Assistance Fund (EMAF) program. Deed restricted homeowners residing in Gunnison County financially affected by the Covid-19 pandemic may be eligible for assistance.
The EMAF is a loan program intended to assist deed restricted homeowners residing in Gunnison County in paying their property taxes, homeowner’s insurance and HOA dues and in some cases their mortgage payments. Homeowners may have received relief or deferment from their financial institutions for their monthly mortgage payments, however taxes, insurance and HOA dues payments may still be required. The EMAF is intended to assist those homeowners affected by COVID-19 to continue making timely scheduled payments to avoid foreclosure.
The terms of the assistance would be in the form of a loan that may be paid back over a term of 12-24 months with an interest rate of up to 2%.