Reverse Mortgage Insurance and Tax Payment Program Extension Emergency Declaration Resolution of 2024

This resolution extends the Reverse Mortgage Insurance and Tax Payment Program in the District of Columbia until November 3, 2024, to prevent senior homeowners from losing their homes due to unpaid taxes or insurance. The program provides zero-interest loans to qualified seniors facing foreclosure risks on reverse mortgages and will now also allow the use of funds to cover condominium and homeowners association fees. By designating an emergency, the Council authorizes the Housing Finance Agency to immediately access remaining funds from the original budget to continue assisting households while permanent legislation is developed.