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1. Learn about this resource. 

Residents who have a reverse mortgage, which allows homeowners to access the value of their home in cash and stops their loan payments, can get help paying overdue taxes and fees. You can receive an interest-free loan of up to $25,000 from DC Government for your overdue property taxes, homeowner’s insurance, condominium fees, and/or homeowners’ association fees. You won’t need to repay the loan until you sell your home or no longer live there.

 

This program is called DC Reverse Mortgage Insurance & Tax Payment Program (ReMIT) and is offered by the DC Housing Finance Agency, in partnership with Housing Counseling Services, a local nonprofit.

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2. Check if you are eligible.

You are eligible if all of these statements are true:

• Your annual gross income—your income before paying taxes—is at or below $77,540. To calculate your income, add up the income of anyone listed on your mortgage and money you receive for housing from anyone you live with.

• You own the home that you live in.

• Your home is in DC.

• You have a reverse mortgage for your home in your name, which means that you can access the value in your home in cash and don’t have to make mortgage payments. You have to be at least 62 years old to get a reverse mortgage.

• You are at risk of foreclosure because you’ve been unable to pay all or some of your property taxes, homeowner’s insurance, or condo or homeowners’ association fees.

• You can show that you have the income to pay your future financial obligations.