FORT PIERCE — Two major housing assistance programs will begin accepting funding applications from Fort Pierce homeowners at 8 a.m. on Monday, Jan. 5 — the Foreclosure Assistance Program and the Residential Rehabilitation Program.
One program is designed to help income-eligible city residents avoid losing their homesteads to mortgage foreclosure, while the second offers no-interest, deferred loans to bring homes up to construction and safety codes. The rehabilitation loans do not require repayment until the property is sold or the title is changed.
But before city property owners can submit applications for either assistance program, they must first attend one of two orientation sessions that will detail who is eligible, how they can apply and what documentation must accompany applications. According to city officials, no application will be considered if it does not include proof of orientation attendance.
Orientations are set for Thursday, Dec. 4 or Thursday, Dec. 18, from 5:30-6:30 p.m. Both will convene at the River Walk Center, 600 N. Indian River Dr., Fort Pierce.
Once the application period opens Jan. 5, officials say submissions are accepted and processed on a “first-submitted, first-qualified, first-served basis” until funding runs out.
The city has been allocated $356,368 from the State Housing Initiatives Partnership (SHIP) program. Officials say sometimes allocations for the popular programs run out before all qualified applications can be funded.
Income-eligible city residents who occupy their homes may apply for foreclosure assistance if they are “in mortgage delinquency or otherwise at risk of foreclosure, but whose homes have not yet reached the foreclosure sale date.”
Residential Rehabilitation funding is available for a variety of homestead projects that bring a property in compliance with safety and building codes. If a project is approved, the city takes bids and awards projects to qualified contractors and also handles inspections.
To be eligible, the property must have been owner-occupied for at least the last two years and be current on mortgage payments and property taxes.
Qualifying annual income guidelines are set by the federal government and range, for example, from $33,150 to $79,560 for a single-person family; $37,900-$90,960, two-person household; $47,350-$113,640 for family of four.
“These programs represent our continued commitment to supporting residents and preserving affordable housing within the City of Fort Pierce,” said Donnella Clarke, city grants division manager. “By investing in our neighborhoods, we are not only helping families maintain their homes, but also strengthening our entire community.”
For more information, including eligibility requirements, application instructions and frequently asked questions, go to the city’s website at https://cityoffortpierce.com/503/Open-Grant-Opportunities.