Vermont’s new Mortgage Assistance Program was announced today to help low-income homeowners who have fallen behind on their mortgage and are facing economic hardship brought on by the COVID-19 pandemic. The program will provide up to three monthly mortgage payments directly to the servicer of the mortgage with a goal of preventing future foreclosure. Administered by Vermont Housing Finance Agency (VHFA) with $5 million of the funding provided to Vermont through the federal CARES Act, the program is available to any homeowner who meets the eligibility criteria, and is not just for VHFA borrowers. 

This article previously appeared as sponsored content on VTDigger. VHFA is proud to underwrite VTDigger’s independent journalism. 

COVID-19 has not changed the fact that many Vermonters still dream of owning their own home. Some want a space to call their own – like a backyard for a dog, a deck, or a garden to plant vegetables or flowers. Others may need more room for a growing family. Still others may need more space for multi-generational living arrangements.

Research conducted by VHFA for the 2020-2025 Vermont Housing Needs Assessment reveals that Vermont’s non-White households fare worse than White households according to numerous economic and housing-related metrics. Much of the data from the report is available on VHFA’s regularly updated Vermont housing data site.

Newly released data from the 2020 Point-in-Time Count in January found 1,110 people experiencing homelessness in Vermont, a slight increase from the prior year. That number has increased to over 2,000 people during the COVID-19 pandemic, according to the Vermont Coalition to End Homelessness.