Mortgage Assistance Program (MAP)

If you are a homeowner interested in MAP, please dial 646-786-0888 or 311 to get connected to a housing counselor.  If you are a housing counselor or legal services provider, please use the MAP-App to submit your applications.

 log-in to the MAP-App.

Click here to download the paper MAP-App. You can use the paper version of the MAP-App as a guide for the online MAP-App.

 

Uses

In general, MAP can be used to pay down arrears or principal to make a monthly housing payment affordable. The most common uses for MAP are:

  • Paying arrears to reinstate an affordable mortgage
  • Paying off a second mortgage
  • Paying a required down-payment on a non-HAMP modification
  • Paying off condo or homeowners association arrears to bring a homeowner current, avoid  foreclosure, and/or make a workout possible

MAP cannot be used to pay off municipal liens or consumer debt. If you have a unique case and want to run it by us, we would like to hear from you.

 

Qualifications

MAP will determine if a homeowner qualifies based on the information submitted. To qualify for MAP a homeowner must:

  • Work with a free housing counselor or legal services provider
  • Live in a 1-4 family house or condominium that is their primary residence
  • Live in one of the five boroughs of New York City
  • Have an annual household income at or below 165% of area median income (AMI)

AMI 2014

After receiving MAP funds, a household’s housing costs should meet the following guidelines:

  • 40% front end debt-to-income ratio (all housing debt divided by gross monthly income)
  • 55% back end debt-to-income ratio (all housing and non-housing debt divided by gross monthly income)

Additional eligibility guidelines may apply. Contact MAP for more information.

 

Details

MAP loans can be made for amounts up to $25,000, are without interest (0%), and have no monthly payments. MAP loans must be repaid if the homeowner refinances, pays off all existing loans (including senior mortgages), sells the home, no longer lives in the home, or, if none of these conditions is met, 30 years from the date of the MAP loan closing. MAP loans may be forgiven if a homeowner does not profit from the sale of the home or if repayment of the loan would jeopardize continued homeownership. MAP funds are paid directly to the mortgage lender or servicer. MAP funds may be used in conjunction with other loans, grants, or borrower contributions. All mortgage or association delinquencies not resolved by MAP must be resolved before a MAP loan can be closed. The MAP Credit Committee may require additional actions by a homeowner prior to closing including, but not limited to, financial counseling.

 

Application

MAP applications must be submitted via the MAP-App. Use the “Login” button at the top of this page to submit a MAP-App. If your organization has not yet setup a MAP-App account and would like to request one, please email us at map@cnycn.org. Only housing counselors or legal services providers who charge no fees may submit applications to MAP.

You should apply to MAP as soon as you determine it is a good fit for your client; you do not need to wait for a workout or settlement offer to apply for MAP.

process-chart