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Delaware Emergency Mortgage Assistance Program (DEMAP)
Commonly referred to as the DEMAP Program, this statewide program provides Delawarehomeowners with assistance in preventing residential mortgage foreclosure(s) that result fromcircumstances beyond the homeowner's control.
How To Apply
1. Contact a participating Housing Counselor.2. Make sure you meet all borrower requirements.3. Ensure the property meets all requirements.4. Please view the
1. To qualify, a borrower's current gross family income cannot exceed:2. Be 90 days or more delinquent in monthly mortgage payments at the time of the applicationsubmission.3. Have held a good mortgage/credit history prior to the current delinquency.4. Be suffering financial hardship beyond his/her control.5. Demonstrate a reasonable prospect of being able to resume mortgage payments in thenear future.6. Currently have no more than two mortgages on the subject property.
Eligible properties include single and two family residences, condominiums, cooperatives,and manufactured housing (if located on property secured by the homeowner).
Property must be located in Delaware.
Commercial, rental, or any other form of business property is not eligible.
1. Interest rate is fixed @ 3% simple interest.2. Maximum loan amount is $15,000.3. There are two types of loans:
Continuing Loan: pays delinquent balance and ongoing monthly payments not toexceed 12 months or $15,000.
Non-Continuing: pays only past due balance not to exceed 12 months of accruedpayments or $15,000.4. May be recorded in 2nd or 3rd lien position.5. Monthly payments are not required however it is recommended that when their financialcircumstances allow, borrowers begin repayment. Interest continues to accrue until theloan is paid in full. Payoff is required when the property is refinanced, sold or title istransferred.
DEMAP Counseling Agencies
If you believe that you meet the requirements for this program, contact the Housing CounselingAgency of your choice.
County Maximum Household Income
New Castle $89,470Kent & Sussex $81,420
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