§ 31.210. Periods of high unemployment.
(a) Months of assistance available. The 24 month limit on mortgage assistance available under § 31.203(d), and the 24 month periods referred to in § § 31.202(d)(1), 31.203(a)(3)(ii), 31.204(c)(2) and 31.206(a) and (d)(2) shall increase to 36 months if during the month the homeowner submits an application for assistance the Agency has determined that a period of high unemployment exists.
(b) Housing expense formula. The 40% ratio referred to in § § 31.204(c) and (e) and 31.205(c)(3) (relating to agency review; and financial hardship due to circumstances beyond the homeowner’s control) shall be reduced to 35% if during the month the homeowner submits an application for assistance the Agency has determined that a period of high unemployment exists.
(c) Definition; declaration. There shall be a ‘‘period of high unemployment’’ if the average rate of unemployment in this Commonwealth equals or exceeds 6.5%. This determination will be made by the Agency on a monthly basis based upon seasonably adjusted unemployment figures for the most recent 3 months for which the data for this Commonwealth is published. If the Agency determines that a period of high unemployment exists, the Agency will immediately publish a notice to that effect in the Pennsylvania Bulletin consistent with this section.
Source The provisions of this § 31.210 adopted June 4, 1999, effective July 1, 1999, 29 Pa.B. 2859.
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