Cape Coral offers emergency funds to help families unable to pay mortgage

Posted at 10:15 AM, Mar 04, 2021
and last updated 2021-03-26 08:26:44-04

CAPE CORAL, Fla. — Emergency assistance will be available to help Cape Coral households that are unable to pay mortgages due to the COVID-19 pandemic.

Cape Coral City Council approved the next phase of assistance, which will provide about $680,000 to eligible households.

Applicants could receive up to six months of emergency assistance for unpaid mortgage payments.

There are certain qualifications:

  • The property must be located in the City of Cape Coral.
  • The property must be the primary residence of the applicant as evidenced by the homestead exemption. Second homes and homes without homestead exemption are ineligible.
  • Properties located in the special flood hazard area must have flood insurance.
  • Properties must have hazard insurance.
  • The property value may not exceed $294,601.

Applications can be submitted Monday, March 15 through Friday, March 26.

No applications will be accepted after March 26. Assistance payments will be paid directly to mortgage lenders.

To qualify, applicants must reside within the city, be able to demonstrate a COVID-19 related financial hardship (e.g. job loss, furlough, or reduction in pay or hours), and meet the federal income limits.

Eligible applicants must fall at or below 80 percent of the area's median income. The income limit is $38,600 for an individual or $55,100 for a household of four, or $72,750 for a household of eight.

Application materials will be available on the City’s website on Monday, March 8th.

Homeowners affected by COVID-19 who need assistance with water and/or electric bills can contact one of the City’s partners agencies for assistance:

Community Cooperative (239-332-7687 ext. 120) and Cape Coral Caring Center (239-945-1927).

Cape Coral renters seeking rental and utility assistance should apply through the Lee County Emergency Rental Assistance Program (here.).

Applications are being accepted now for rentals assistance.