On July 17th the State of Colorado government announced a $20 million fund, which will assist tenants and landlords with rent and mortgage payments during the coronavirus crisis. The fund’s source is the federal CARES Act. The money is distributed through a variety of housing entities throughout the state. Tenants and owners of residential real estate can call 2-1-1 and request to be connected with a local entity, which can assist in the application process for the Emergency Funds.
$20 million equates to having enough to fund $1,000 in rent and mortgages for 20,000 households. The demand for the assistance is likely to be extremely high assuming unemployment assistance is not extended by the federal government
According to the website these are the entities in Boulder County:
Available assistance in Boulder County local programs
• Jewish Family Service
Monday through Friday,
8:30 a.m. through 4:30 p.m.
• Family Tree
303.467.2604 Monday through Friday 9 a.m. through 4 p.m.
• Brothers Redevelopment
Monday through Friday 8 a.m. through 4:30 p.m.
• The Salvation Army
855.768.777 Monday through Friday, 9 a.m. through 4 p.m.
Rules for Renters and Homeowners
To qualify for help, renters and residential homeowners will need to meet the following conditions:
• Affected financially by the COVID-19 pandemic
• Can’t make rental and mortgage payments without sacrificing necessities like food
• Currently earning less than 80 percent of the area median income for the county where they live
• For homeowners, a mortgage statement and a document showing the mortgage company has refused to defer mortgage payments
• For renters, a lease or other document that shows their address, including driver’s licenses, pay stubs or utility bills; alternatively, a statement from the landlord
For more information go to the state rental assistance web page at: cdola.colorado.gov/rental-assistance
By Duane Duggan. Duane has been a Realtor for RE/MAX of Boulder since 1982. Living the life of a Realtor and being immersed in real estate led to the inception of his book, Realtor for Life. For questions, e-mail DuaneDuggan@boulderco.com, call 303.441.5611 or visit BoulderPropertyNetwork.com.