The C-Cap, Inc Grant Program



Home Ownership Preservation

Grant Program Fact Sheet

|Eligible Areas: |Jefferson, Ozaukee, Washington and Waukesha Counties |

|Maximum Grant Amounts: |Maximum of $2,500. Funds will be paid directly to the lender on the homeowner’s behalf to resolve |

| |delinquency. |

|Borrower eligibility: |Eligible homeowners must owner occupy the home in which the funds are requested. Household income may not |

| |exceed 80% of the county median income adjusted by household size. HRI will verify all household income. |

| |To be eligible for a HCRI grant, homeowners must complete post purchase counseling session(s) for budget |

| |and credit counseling (will receive an action plan), provide HRI with ALL of the required file |

| |documentation requested, assist HRI in creating an actual budget and hardship letter, and have the budget |

| |wherewithal and ability (financial situation must be stabilized) to pay the mortgage going forward |

| |following any work-out plan put in place. |

|First mortgage loan: |Participating Lenders may use these grants with most first mortgage products. Fixed Rate and ARM products |

| |can be used provided the loan term is a minimum of 5 years. |

|Eligible properties: |Eligible properties include owner occupied single-family, condominiums and duplex homes. Mixed-use |

| |buildings (commercial/residential) and rental properties are ineligible. |

|Eligible costs financed by Grant: |The homeowner must be or at risk of becoming delinquent on their mortgage to apply. Grant funds may be |

| |applied to cover the cost of mortgage principal and interest, property taxes and /or interest (PITI) or |

| |cover the cost of down payment for an affordable mortgage modification or repayment plan and is a one-time |

| |payment. Funds can be used for property tax arrearages, if they put the homeowner at risk of foreclosure |

| |and are not chronically delinquent. |

|Retention Period: |HCRI funds for foreclosure prevention will be provided by HRI and WPHD in the form of a grant. |

|Homeowner Contribution: |Non-refundable home inspection or Housing Quality Standards (HQS) fees will be paid by the homeowner. |

| |These fees will vary based on the type of property to be inspected. If health, safety or unsanitary |

| |conditions are identified, they must be corrected before grant approval at the homeowner’s expense. |

| |Re-inspection fees may also be charged to the homeowner. |

|For Additional Information: |Connie Hernandez |

|Jefferson, Ozaukee, Washington, and Waukesha Counties |Housing Resources, Inc. |

| |217 Wisconsin Avenue, Suite 124 |

| |Waukesha, WI 53186 |

| |262-522-1230 phone, 262-522-1233 fax |

| |consuelo_hernandez@hri- |

| |hri- and |

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