DEMAP - Delaware State Housing Authority

1 Delaware Emergency MortgageAssistance ProgramDelaware State Housing AuthorityFor more information on DEMAP , contact: Delaware State Housing AuthorityDivision of Housing Finance820 North French StreetTenth FloorWilmington, DE (302) 577-5001 Fax (302) 577-5021 Doc. No. your home fromforeclosure today! DEMAP Counseling AgenciesGuidewell Financial SolutionsWilmington, (800) 642-2227 Dover, DE ..(800) , , (800) Community Reinvestment Action Council, (302) (877) State Community Action AgencyNew Castle, DE ..(302) 498-0454 Dover, DE ..(302) 674-1355 Georgetown, DE ..(302) Community CenterHockessin, DE.

2 (302) Opportunities of Northern DE, , DE ..(302) Community Housing of DE, , DE ..(302) 652-3991 Dover, DE ..(302) Research , DE ..(302) 283-7505 Dover, DE ..(302) 678-9400 Georgetown, DE ..(302) House, , DE ..(302) 658-5404 Middletown, DE ..(302) End Neighborhood (302) Centers for Homeownership EducationNewark, DE ..(302) Brochure - English 6/12/2015 3:16 PM Page 1 What is DEMAP ?The DEMAP LoanEligibility Requirements:Because unforeseen financial hardshipscan bring the threat of foreclosure toeven the most responsible of homeown-ers, Delaware State Housing Authority (DSHA) has created the Delaware Emer-gency Mortgage Assistance Program( DEMAP ).

3 DEMAP is a loan program thatprovides Delaware homeowners with assistance in preventing residential mort-gage foreclosures that result from circumstances beyond the homeowner scontrol. Such circumstances are limited toa 15% or greater reduction in incomecaused by:nLoss of employment due to the due to or illness of self or immediatefamily member for whom the wageearner is the primary loans are secured by a mortgageagainst the subject helps homeowners by reinstatingthe delinquent mortgage loan, includingprinciple, interest, taxes and insurance (ifpart of the scheduled mortgage pay-ments), and assisting with their monthlymortgage payments going forward for aperiod of up to 24 months.

4 *How to Apply:If you are a homeowner and you are delin-quent on your First Mortgage and at riskof foreclosure, you should meet with anapproved DEMAP Housing counselingagency as soon as possible. You must ex-plore all options prior to applying toDEMAP. Your application will not be con-sidered unless your First Mortgage pay-ments are at least ninety (90) select a Housing counseling agencyfrom the list on the other side of thisbrochure. The counselor will help deter-mine whether DEMAP is right for you andguide you through the DEMAP applicationprocess.*24 month maximum duration of assistance is based on continuing program eligibility andmaximum loan amount be eligible for a DEMAP loan, home-owners should:nBe residents of 90 days or more delinquent ontheir First Mortgage payments andface the risk of foreclosure.

5 **nDemonstrate a reasonable prospect of being able to resume mortgagepayments in the near income eligibility 31% of monthly income to-ward their mortgage payment duringthe monthly payment assistanceperiod.** DEMAP is restricted to owner-occupied, primary :Please continue to explore allpossible options availablethrough your counselor andwith your current may also find the followingwebsite Brochure - English 6/12/2015 3:16 PM Page 2