Empowering Resilience: Mortgage Deferrals
Home is more important than ever during a crisis. As in hard times before, New Orleans Habitat committed to lending a hand up to Habitat homeowners impacted by the COVID-19 pandemic. In order to alleviate the financial stress during those uncertain early days of the pandemic, NOAHH offered a mortgage deferral to all homebuyers and all escrow payments for current families going through the program were paused. With many families out of work and children home from school, other more immediate needs took precedence, and New Orleans Habitat knew that even a little relief would be welcome. Habitat staff reached out to all 437 homebuyers with active mortgages, and as the crisis stretched further than anyone anticipated, Habitat committed to working with any homebuyer affected by it.
What Habitat partner families show every day is their strength and determination. Every individual and family who completes the First-Time Homebuyer’s Program has overcome innumerable obstacles. Whether they survived Hurricane Katrina and the levee failures of 2005 or simply the daily struggles of being single parents in inadequate housing, Habitat homebuyers prove their strength and determination every day. During a stressful time for our country and community, NOAHH emphasized the importance of support and stability. As the affiliate tackles COVID-19 in the most preventative and helpful ways possible, NOAHH will continue to be a source of support and structure for Habitat homeowners, just as they have been in their communities for years.