Emergency Mortgage
Assistance Program - EMAP
Program Description
The Emergency Mortgage Assistance Program
(EMAP) offered through the Connecticut Housing
Finance Authority (CHFA) provides financial
assistance for up to five years to Connecticut
homeowners suffering a temporary financial
hardship, who have fallen behind on their
mortgage payments, and have received a notice
of foreclosure action from their lender.
The initial disbursement of the EMAP mortgage
loan will be paid to a homeowner’s mortgage
lender to correct the delinquency and bring
their mortgage to a current status. Eligible
homeowners are required to pay a portion of
their monthly mortgage payment to CHFA while
receiving Emergency Mortgage Assistance. The
required amount of the payments made by the
homeowner to CHFA is based on their income.
CHFA will then pay the total required monthly
mortgage payment to the homeowner’s lender for
up to five years while the homeowner continues to
pay their partial payment to CHFA.
The total amount of the Emergency Mortgage
Assistance paid by CHFA to the current mortgage
lender is repaid by the homeowner as a 30-year,
fixed-rate, fully amortizing mortgage loan. During
the period of assistance, the homeowner must
participate in an annual recertification process
to determine continued eligibility and must notify
CHFA of any changes in their financial status.
Borrowers will begin repayment of the EMAP
mortgage loan at a time when the borrower’s
finances allow, based on CHFA’s review.
EMAP Program Homeowner � The homeowner must have contacted their Eligible Properties
Eligibility Requirements current mortgage lender or a CHFA approved All properties must be owner-occupied and the
housing counselor (refer to the list of primary residence of the applicant.
The Emergency Mortgage Assistance Program approved agencies on the reverse side) as
is available to Connecticut homeowners who indicated in the required delinquency
meet all of the following eligibility requirements: • Single family homes
notice in an effort to negotiate terms to
correct the delinquency of the mortgage. In • Single family homes located in Planned
The delinquent mortgage must be a non-FHA the event these negotiations are unsuccessful Unit Developments (PUDs)
insured mortgage secured by the home- or in the event you successfully negotiated
owners’ primary principal residence and the • Single family condominiums
repayment terms but were unable to honor
homeowner must not have an ownership those terms due to an unforeseeable • Two-to-Four family homes
interest in any other real estate. financial hardship you may be eligible to
apply for EMAP. � Please note that no business or commercial
The homeowner’s inability to make the use of the property is allowed.
mortgage payments on their primary CHFA must determine that there is a
residence must be due to either an Homeowners may contact the CHFA
reasonable expectation that the homeowner
unforeseen financial hardship (which Customer Call Center at 860-571-3500 or toll
will be able to reinstate their current
reasonably could not have been alleviated by free at 877-571-CHFA (2432) to obtain the
mortgage payments and have the ability to
the liquidation of assets by the homeowner) necessary Emergency Mortgage Assistance
repay the EMAP mortgage loan.
resulting in a reduction of household income Application documentation.
of at least 25% or a significant increase in � Eligible homeowners must be fully discharged
the monthly payments required by their from any action of bankruptcy.
current mortgage lender.
� The homeowners primary residence secured
The homeowner must have received a by the mortgage must be an eligible property.
delinquency notice from their current
mortgage lender dated on or after July 1,
2008, which indicates the lender’s intent to
initiate foreclosure proceedings.
Except for the current delinquency, the
homeowner must have a favorable mortgage
credit history with no more than three 30-day
late payments for the previous 2 years or
period of ownership (whichever is less).
EQUAL HOUSING
www.chfa.org
OPPORTUNITY
7/08
CHFA strives to assist as many homeowners as
possible. If you do not meet the EMAP eligibility
requirements, we encourage you to contact the
following resources to explore additional options:
CHFA-Approved Housing
Counseling Agencies
Acorn Housing Corp
Bridgeport
203-366-4180
Catholic Charities & Family Services
Norwich
860-889-8346
Co-opportunity Inc.
Hartford
860-236-3617
Housing Education Resource Center
Hartford
860-296-4242
Mutual Housing Assoc. of Southwestern CT
Stamford
203-359-6940
Neighborhood Housing Services of New Britain
860-224-2433
Neighborhood Housing Services of New Haven
203-777-6925
Neighborhood Housing Services of Waterbury
203-753-1896
Urban League of Greater Hartford
860-527-0147
For questions or additional information
please contact CHFA’s Customer Call Center
at 860-571-3500 or Toll Free at 877-571-CHFA
[2432].
Connecticut Housing Finance Authority
999 West Street • Rocky Hill, CT 06067
www.CHFA.org