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COVID-19 Financial Assistance Program

We are currently living in unprecedented times as a country due to the COVID-19 pandemic and we understand that millions of Americans have been affected financially due to this situation. For our Residents that can prove that they have a financial hardship due to COVID-19, Inspire Communities has created a COVID-19 Financial Assistance Program that we hope alleviates some of the financial worries.

The Federal Government is providing payments to everyone in the USA making under $100,000 to offset the temporary loss of income due to furloughs and layoffs. We have launched a COVID-19 rent deferral program, not a rent forgiveness program, to support those residents that are forthcoming and truthful about their financial hardship from COVID-19. We appreciate your past residency and want you to continue in our communities long past this pandemic.

FAQs
1
What is the COVID-19 Financial Assistance Program?
a
It is an assistance program that will provide deferral of rent payments for residents who can provide evidence of a financial hardship as a result of COVID-19.
b
Please note this plan has features outlined below and in all cases, residents are expected to ultimately pay all rent contractually due.
2
How is financial hardship defined and who qualifies for this program?
a
Financial hardship is defined as a loss of income through layoffs or reduced hours due to COVID-19.
b
Residents that complete an application for the program and are current on their rent through March 31, 2020 and pay at least 50% of April 2020’s rent by April 30, 2020 plus utilities and other charges, if applicable.
I
Residents must provide proof of loss of income due to COVID-19 such as:
1
If unemployed, proof of unemployment filing or unemployment benefit verification.
2
If job hours are reduced, a letter from employer indicating the current average hours worked per week and rate of pay.
3
If furloughed, a copy of the document used by employer notifying furlough.
4
If terminated, a copy of the document used by employer notifying termination.
5
If quarantined, a doctor’s note verifying request to be quarantined.
II
Residents sign a Payment Deferral Agreement that confirms their commitment to pay all deferred rent by July 31, 2020.
3
What options is Inspire Communities providing for those who meet the above requirements?
a
Residents may defer 50% of April’s rent and 50% of May’s rent by agreeing to pay June rent by June 15, 2020, July’s rent and all of deferred rent by July 31, 2020.
b
By signing the agreement, all Late Fees will be waived if all the terms of the Payment Deferral Agreement are met.
c
If the deferred rent is paid by June 30, 2020, July rent will be discounted 15%.
4
May I use my Security Deposit to help pay my rent?
a
Yes, Eligible residents may use their Security Deposit to pay April rent.
b
Any Security Deposit used to pay April rent will need to be replenished at lease renewal.
5
If I use my Security Deposit to pay April rent, am I still eligible for the Financial Assistance Program?
a
Yes, you may still apply for the COVID-19 Financial Assistance Program to defer 50% of May’s rent by paying 50% of May rent and deferring the other 50% to be paid in full by July 31, 2020.
b
You will still be eligible for the 15% reduction in July rent if all current and deferred rent is paid in full by June 30, 2020.
6
Who do I contact to apply for the Financial Assistance Program?
a
Contact your Community Staff for the Application and the amount of rent you would like to defer.
b
The Team will provide you with the Proof of Financial Hardship which you will fill out attesting to your financial loss.
c
Once you have submitted the Application and Proof of Financial Hardship, it will take approximately 3 days for an approval or denial.
7
How will I be notified about my Application?
a
If Approved, a Payment Deferral Agreement will be provided for signature.
b
To practice Social Distancing, please provide your email on the Application and all documents and approvals or denials will be sent electronically.
8
If I am Approved for the Financial Assistance Program, how will this affect my credit?
a
Your delayed payment through participation in this deferral program will have no negative affect on your personal credit rating with the rating agencies.
9
Will my information be shared with others?
a
Please be assured that all your information will be held in strict confidence.
10
If I still have questions, who should I contact?
a
Contact your Community Office.

11335 Gold Express Drive
Gold River, CA 95670

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