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ReMIT
The Reverse Mortgage Insurance & Tax Payment Program (ReMIT) was originally established by the Council of the District of Columbia as a one-year pilot program to be administered by DCHFA in 2019. In March 2020, the D.C. Council voted unanimously to extend and to expand the program’s qualifications to include the payment of delinquent condominium or homeowner's association (HOA) fees, making it possible for more District seniors to have the opportunity to retain ownership of their homes with ReMIT.
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ReMIT allows qualified homeowners 62 and older to receive financial assistance for delinquent property taxes, homeowner’s insurance, condominium and HOA fees, and certain property related expenses that have put the homeowner at risk of foreclosure. Qualified homeowners can receive up to $25,000 in assistance in the form of a zero-interest, non-recourse loan.
FY 2020 Highlights:
• Number of applicants received: 14 • Number of applicants closed: 5 • Total amount of assistance: $31,105 • Average amount of assistance: $6,301 • Number of applications approved pending settlement: 9
