U. S. Virgin Islands Mortgage Loan Reinstatement Program

Criteria Terms

Description Provide funds to eliminate or reduce past due payments and other delinquent amounts, 

including payments under a forbearance plan, 

HAF Funds may be used to bring account fully current, with no remaining delinquent 

amounts, and to repay amounts advanced by the lender or servicer on the borrower’s behalf 

for property charges, including property taxes, hazard insurance premiums, flood or wind 

insurance premiums that the servicer advanced to protect lien position. 

The Territory encourages homeowners to seek additional loss mitigation options offered 

by the servicer, and the application for this program element will require applicants to 

report on such efforts, however, an application or completion of such a process will not be 

required to eligible for assistance under the Territory’s Mortgage Reinstatement Program.

Maximum amount of 

assistance per homeowner

Each Homeowner will be eligible for up to $25,000 to be used only for the homeowner’s 

primary residence.

Homeowner eligibility 

criteria and 

documentation 

requirements

Eligibility Requirements: 

• Proof of ownership, including deed, property tax bill of the principal residence

• Utility bill statement

Additional documentation requirements include: 

• Written attestation of current ability to resume any required regular payments after 

account is reinstated 

• Mortgage statement from the past 60 days and any additional documents from the 

mortgagee of past due payments for eligible costs that include valid account, payment 

and contact 

a. If name of applicant is not on the deed or mortgage statement (e.g., heirs of

property), applicants must have documentation of having made payments to 

the mortgagee on a regular basis within the past two years 

• Documentation of household income at or below 100% of AMI or a written attestation 

of social disadvantage.

Loan eligibility criteria 

specific to the program 

element

Delinquent by at least two payments, including any payments during a forbearance period 

or outstanding charges whether in default or in a repayment plan.

Form of assistance Assistance will be structured as a grant.

Payment requirements Payments will be made directly to the lender or servicer, as appropriate.

U.S. Virgin Islands Mortgage Payment Assistance Program

Criteria Terms

Description Provide full or partial payment assistance to homeowners who are unable to make full 

mortgage payments due to a continuing financial hardship associated with the Coronavirus 

pandemic. 
HAF funds may be used to satisfy or reduce a homeowner’s monthly mortgage/loan 

payments (PITI) up to one year or until the Maximum Amount of Assistance is reached, 

whichever is lesser. 

The Territory encourages homeowners to seek additional loss mitigation options offered 

by the servicer and the application for this program element will require applicants to 

report on such efforts. 

Maximum amount of 

assistance per homeowner

Each Homeowner will be eligible for up to $25,000 to be used only for the homeowner’s 

primary residence.

Homeowner eligibility 

criteria and 

documentation 

requirements

Refer to Eligibility Requirements

Additional documentation requirements include: 

• Households with incomes below 100% of Median Family Income 

• Written attestation of current inability to resume mortgage payments due to 

unemployment, underemployment or other continuing hardship

Additional documentation Requirements:

• Statement of current inability to resume mortgage payments due to unemployment, 

 underemployment or other continuing hardship 

• Mortgage statement from the mortgagee of forward payment obligations that includes 

 valid account, payment and contact information

Loan eligibility criteria 

specific to the program 

element

Delinquent by at least three payments, including any payments during a forbearance period 

or outstanding charges whether in default or in a repayment plan.

Form of assistance Assistance will be structured as a grant.

Payment requirements Payments will be made directly to the lender or servicer, as appropriate.

U.S. Virgin Islands Mortgage Principal Reduction Program

Criteria Terms

Description Provide funds for loss mitigation measures intended to result in a permanently sustainable 

monthly payment for borrowers unable to meet scheduled payment requirements due to a 

financial hardship associated with the Coronavirus pandemic. Funds may be used to 

achieve principal reductions, recast payment terms, and appropriate funds to ensure such 

assistance, when leveraged with other available loss mitigation options, results in a 

sustainable monthly payment amount for the borrower.

Maximum amount of 

assistance per homeowner

Each Homeowner will be eligible for up to $25,000 to be used only for the homeowner’s 

primary residence.

Homeowner eligibility 

criteria and 

documentation 

requirements

Refer to Eligibility Requirements

Additional documentation requirements include: 

• Households with incomes below 100% of Median Family Income
• Written attestation of current inability to resume mortgage payments due to 

unemployment, underemployment or other continuing hardship 

Additional documentation Requirements: 

• Statement of current inability to resume mortgage payments due to unemployment, 

 underemployment, or other continuing hardship 

• Mortgage statement from the mortgagee of forward payment obligations that includes 

 valid account, payment and contact information

Loan eligibility criteria 

specific to the program 

element

Must be delinquent by at least three installment payments (including payments missed 

during a forbearance period) or otherwise in default, as reflected in documentation from 

the payee or the payee’s agent.

Form of assistance Assistance will be structured as a grant.

Payment requirements Payments will be made directly to the lender or servicer, as appropriate.

U.S. Virgin Islands Homeowner Displacement Prevention (Foreclosure Prevention) 

Criteria Terms

Description Provide funds to resolve any property charge default that threatens a homeowner’s ability 

to sustain ownership of the property that is not paid as part of the regular mortgage or 

otherwise covered by or another assistance program. 

The homeowner must be brought current by program assistance or resolved concurrently 

with the program providing assistance.

Maximum amount of 

assistance per homeowner

Each Homeowner will be eligible for up to $25,000 to be used only for the homeowner’s 

primary residence.

Homeowner eligibility 

criteria and 

documentation 

requirements

Refer to Eligibility Requirements

Additional documentation requirements include: 

• Homeowner is in default and currently in foreclosure proceedings with the judicial 

system: 

• Documentation from VI Superior Court 

• Documentation detailing legal proceedings

• Documentation detailing financial hardship occurred as a result of Covid, e.g., 

a termination letter

• Household has an income of 100% AMI or below Additional documentation 

requirements: 

• Documentation of household income at or below 100% of AMI 

• Documentation of arrears that includes valid account, payment, and contact 

information

• Documentation of forward payment obligations that includes valid account, payment, 

and contact information, if forward payments are being requested.
Loan eligibility criteria 

specific to the program 

element

Mortgage Foreclosure occurred as a result of the homeowner’s inability to make payments 

due to Covid -19. Due to the Territory’s status as a judicial state, foreclosure may have 

commenced post pandemic and is guided by legal procedures. 

Form of assistance Assistance will be structured as a grant.

Payment requirements Payments will be made directly to the lender or servicer, as appropriate.

U.S. Virgin Islands Homeowner Delinquent Property Tax/Hazard Insurance Prevention 

Program

 

Criteria Terms

Description Provide funds to resolve delinquent payments for property tax, hazard insurance, or other 

assessments that may cause displacement of the homeowner

HAF Program funds may be used to pay past due property taxes, insurance premiums, or 

other assessments that threaten sustained ownership of the property. HAF funds may be 

used to pay delinquent amounts in full, including interest, whereby a delinquency threatens 

homeowner displacement 

The provided assistance must bring the homeowner’s account current.

Maximum amount of 

assistance per homeowner

Each Homeowner will be eligible for up to $5,000 through this program element to be 

used only for the homeowner’s primary residence.

Homeowner eligibility 

criteria and 

documentation 

requirements

Refer to Eligibility Requirements

Additional documentation requirements include: 

• Homeowner is at least one installment payment in arrears on one or more property 

charges including: 

• Property taxes

• Insurance: hazard (earthquake, windstorm and fire) and flood premiums

• other assessments such as condominium fees, cooperative maintenance

• A bill from the provider indicating account arrearage and listing the homeowner and 

 the address in the application

• Documentation of household income at or below 100% of AMI 

Loan eligibility criteria 

specific to the program 

element

Assistance is sufficient to resolve the delinquency and is not available from other 

assistance programs.

Form of assistance Assistance will be structured as a grant.

Payment requirements Payments will be made directly to the servicer or authorized third party, as appropriate.