New Orleans Area Habitat for Humanity Offers 90-Day Mortgage Relief
NEW ORLEANS – From Habitat for Humanity:
Local families who have purchased a home through Habitat for Humanity will have the option to defer their monthly mortgage payments for 90 days, effective April 1, 2020. This announcement is in response to the unprecedented economic uncertainty caused by the COVID-19 pandemic. New Orleans Area Habitat for Humanity (NOAHH) asks homebuyers in its program to visit habitatdeferral.org or call 504.609.3345 to apply.
“No one should have to worry about losing their home during a pandemic,” said NOAHH Executive Director Marguerite Oestreicher. “The mortgage deferrals are made possible by the support of our generous donors and supporters. We are especially thankful to Fidelity Bank, our loan servicing partner for more than 20 years, whose dedication to providing affordable home ownership opportunities to the working families of New Orleans has been unwavering,” she said
Right now, 437 New Orleans families have zero-interest mortgages with NOAHH; all are able to apply for the mortgage deferrals. Many of these homebuyers work in the city’s hospitality and entertainment industries. Following Hurricane Katrina, NOAHH was responsible for bringing back many of the city’s culture-bearers when the non-profit organization raised funds for and built the Musicians’ Village in the upper 9th ward.
“The economic effects of COVID-19 are wide-reaching. By allowing our homebuyers to defer monthly mortgage payments, we are living the values of our organization and doing all we can to help the communities we serve,” said Oestreicher.
Currently, all NOAHH operations, volunteer activity and construction is suspended at least until April 30, 2020.