Mortgage Assistance Pilot (Map) Program

Eligible homeowners must have resided in their homes for at least one-year prior to applying.  Homes can be one, two or three-family dwellings.  The imminent danger of homelessness must result from one of two broad categories: loss of income due to temporary unemployment, medical disability or change in household composition or the household has an unaffordable mortgage that has subprime or non-tradition repayment terms.  Household must have incomes that are less than 120% of HUD area median income. 

MAP funds are secured by non-amortizing (no monthly payment) second mortgages that are repayable from net sales proceeds when the house is sold.

Anyone interesting in learning more about the MAP program can call the HMFA hotline, 1 800 NJ-HOUSE, or visit the HMFA website (www.nj-hmfa.com) which discussed the MAP and other foreclosure prevention and relief programs.  A list of participating counseling agencies can also be found on the HMFA website or by calling the toll free hotline.