Request for approval to waive the Owner-Occupied Rehabilitation Program in-house policy maximum assistance amount of $60,000 and the underwriting ratios of 35% for monthly 
housing expenses (principal, interest, taxes and insurance (PITI)) and 45% of total debt obligations.

Ricardo & Vilma Rodriguez applied with the Urban County Program for housing emergency assistance due to catastrophic loss - fire.  The family also needed financial assistance to payoff their mortgage to meet our eligibility requirements.

In order to provide the family with assistance the UCP would have to payoff their mortgage ($11,108.83), provide them with an emergency housing unit (3 bedroom $36,414) and complete the unit ($19,500) - for a total of $67,022.83.  Additionally, the family has a debt ratio of 25%, well below our requirements.  However, when you add the housing assistance and debt payoff the ratio is 49% - 4 points over our maximum.

The family has met all other eligibility requirements but due to the amount of assistance the family would go over the in-house cap amount and our underwriting ratios. By waiving these two in-house policies, the UCP would be able to provide assistance to the Rodriguez family.

Please note that no federal regulation would be violated. 




The amount of assistance to the family will be determined after receipt of bids through the procurement process. Thereafter, selection of bidders will be presented to County Commissioner's Court.  Funding is available through the HOME 2006 Budget. The Urban County Program staff recommends approval of applicants.