Vermont Department of Financial Regulation issues alert regarding mortgage assistance program

State Issues Covid-19 Vermont Mortgages Mortgage Servicing

On July 10, the Vermont Department of Financial Regulation issued an industry alert highlighting the Vermont Covid Emergency Assistance Program, which makes available $5,000,000 to qualifying Vermont homeowners who have missed mortgage payments due to the Covid-19 emergency. Payments from the program will be made directly to mortgage servicers on behalf of qualifying consumer applicants. Upon payment, the mortgagor will no longer be considered to be liable with respect to those payments. Servicers are requested to provide a contact name for the company that the Vermont House Finance Agency may use in connection with the program.