ReMIT

DCHFA is as committed to helping Washington, D .C . residents become homeowners as it is to helping them remain in the homes they have worked hard to maintain . Senior citizens face unique challenges in the District, because as their incomes decrease or they move to fixed incomes, the insurance costs and taxes associated with their mortgages continue to increase .

The Agency collaborated with District government to create the Reverse Mortgage Insurance & TaxPayment Program (ReMIT) that would help seniors remain in their homes . Washington, D .C .’s Councilmember at-Large and Chairperson on Housing and Neighborhood Revitalization Anita Bonds secured the funding for the financial assistance program and appointed DCHFA to develop and administer the program .

ReMIT allows qualified homeowners to receive financial assistance for delinquent property taxes, homeowner’s insurance, and certain property related expenses that have put the homeowner at risk offoreclosure. Qualified homeowners canreceive up to $25,000 in assistance in the form of a zerointerest, non-recourse loan .

ReMIT FY 2019 Highlights:

• Number of applications received: 15 • Number of applicants closed: 4 • Total funding provided: $53,974 • Number of applications approved pending settlement: 7