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Delaware Emergency Mortgage Assistance Program (DEMAP)
Commonly referred to as the DEMAP Program, this statewide program provides Delaware homeowners with assistance in preventing residential mortgage foreclosure(s) that result from circumstances beyond the homeowner's control. How To Apply 1. 2. 3. 4. Contact a participating Housing Counselor. Make sure you meet all borrower requirements. Ensure the property meets all requirements. Please view the DEMAP Brochure En Español

Borrower Qualifications 1. To qualify, a borrower's current gross family income cannot exceed: County New Castle Maximum Household Income $89,470

Kent & Sussex $81,420 2. Be 90 days or more delinquent in monthly mortgage payments at the time of the application submission. 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 the near future. 6. Currently have no more than two mortgages on the subject property. Property Qualifications 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. Loan Terms 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 to exceed 12 months or $15,000. Non-Continuing: pays only past due balance not to exceed 12 months of accrued payments 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 financial circumstances allow, borrowers begin repayment. Interest continues to accrue until the loan is paid in full. Payoff is required when the property is refinanced, sold or title is transferred. DEMAP Counseling Agencies If you believe that you meet the requirements for this program, contact the Housing Counseling Agency of your choice.

http://www.destatehousing.com/HomeOwnership/hb_demap.html

3/14/2011

Delaware State Housing Authority

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Delaware Emergency Mortgage Assistance Program - Participating Counseling Agencies HUD Approved Counseling Agency CCCS of MD & DE, Inc. First State Community Action Agency Hockessin Community Center Housing Opportunities of Northern Delaware, Inc. Interfaith Community Housing NCALL Research Neighborhood House, Inc. YWCA Centers for Homeownership Education County New Castle 877.807.5682 302.498.0454 302.239.2363 302.429.0794 302.652.3991 302.283.7505 302.652.3928 302.224.4060 302.741.0142 302.678.9400 302.378.7217 302.855.1370 Kent 877.807.5682 302.674.1355 302.856.7761 Sussex

DSHA Contact Person If you have questions about this program, please contact DSHA at 302.577.5001

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http://www.destatehousing.com/HomeOwnership/hb_demap.html

3/14/2011

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