By Sharon Aron Baron
Through the State of Florida, the City of Coral Springs was allocated $502,500 in Coronavirus Relief Funds to be used for rental and mortgage assistance for those who have experienced a loss of income, reduction in hours, or unemployment as a direct result of COVID-19.
Income-eligible residents with proof of significant impact caused by the pandemic may apply by registering online starting Monday, August 24. Funds are limited and will be granted to residents on a first-come-first-serve basis.
City Manager Frank Babinec said the unforeseen challenges this pandemic has caused, including the financial burden on residents, is something city staff has worked on solutions to address.
“Allocating more than $500,000 in Coronavirus Relief Funds for this program is one way we are trying to alleviate the financial hardships families in our city have endured,” he said.
This time of crisis has also presented a unique opportunity, causing mortgage interest rates to drop significantly. There are mortgage affordability calculators available online that can assist with determining whether or not a refinance is possible and/or fiscally responsible.
Assistance will only be provided for mortgages and rent due beginning April 1, 2020, through December 2020. If granted, aid will be paid directly to the mortgage company or landlord.
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