Brothers Redevelopment/City of Denver offering Foreclosure Financial Assistance Program
At Brothers Redevelopment and Colorado Housing Connects, we know that financial assistance for rent and mortgages is more than just that — we are assisting livelihoods and creating housing stability for all Colorado residents.
Throughout this past year, we have issued record high amounts of financial assistance and helped maintain housing support for Colorado’s most vulnerable community members. This is thanks to strong partnerships with entities like the Colorado Department of Local Affairs and the City and County of Denver who have each trusted us to administer funds to help people stay housed.
Now we face a new challenge: helping Denver homeowners avoid foreclosure during a time of skyrocketing costs.
In partnership with the City and County of Denver, Brothers Redevelopment is pleased to announce that we are now administering funds for the City’s Foreclosure Financial Assistance Program. Designed for households at or below 80% Area Median Income, this program provides HOA/mortgage financial assistance for up to $20,000 per household.
Applications for the Denver Foreclosure Financial Assistance Program can be found in English and Spanish at https://brothersredevelopment.org/rental-assistance/. Households with technology or language barriers can contact Colorado Housing Connects at 1-844-926-6632 or by visiting coloradohousingconnects.org.
“We are thrilled to partner with the City and County of Denver to extend a helping hand to ensure that individuals can catch up on mortgage and HOA payments,” said Brothers Rental and Mortgage Assistance Manager Enrica Bustos-Creviston. “We’re committed to ensuring that no one faces the risk of losing their home and look forward to helping individuals and families regain their financial footing.”
Outside of financial requirements, Denver homeowners can qualify for the Denver Foreclosure Financial Assistance Program if they are the legal owner of the home and have a current financial or other housing crisis. Applicants must not have cash or assets on hand that is equal to or greater than the relief funds being requested as well.
In Denver, Brothers also offers financial assistance for rental and utility payments through the City of Denver’s Temporary Rental and Utility Assistance Program. And during the pandemic, we partnered with the Colorado Department of Local Affairs to offer financial assistance for rent/mortgage payments through the Emergency Rental Assistance Program and the Emergency Mortgage Assistance Program. Through these services, Brothers provided $8,650,140 in rent, mortgage, and utility assistance to Coloradans in 2022.
Those who are facing foreclosure can also speak with one of Colorado Housing Connects’ HUD-approved housing counselors who can help homeowners understand their options by visiting http://coloradohousingconnects.org/homeowners-i-need-help-avoiding-foreclosure/.
