Alaska Housing Homeowner Assistance to Help Homeowners Impacted by Covid 19
Alaska Housing Homeowner Assistance will provide $50 million to help homeowners, Alaska’s share of $9.9 billion relief in last year’s American Rescue Plan Act. These funds can be used to reinstate a mortgage in forbearance, delinquency, or default, repaying homeowner expenses including property taxes, hazard insurance premiums, HOA/condominium dues, cooperative maintenance fees, and a portion of ongoing payments for homeowners who continue to experience financial hardships due to COVID-19. Homeowners that apply for assistance should continue paying their mortgage and work closely with their Mortgage Servicer.
Who Is Eligible for Alaska Housing Homeowner Assistance?
There are certain eligibility requirements to receive these funds. The Alaska Housing Finance Corporation, which is administering the homeowner relief program, said there are income eligibility limits for the assistance, based on each community’s average median income. Applicants must be homeowners and apply for aid in their primary residence that is located in the State of Alaska. They must satisfy minimum federal and State of Alaska requirements:
- Have experienced a coronavirus-related financial hardship after Jan. 21, 2020;
- Not exceed the maximum household income as required by U.S. Treasury;
- At least one person per household must be directly or indirectly financially impacted by COVID-19;
- And also demonstrated risk of housing instability or homelessness.
According to the agency’s announcement, applicants are automatically connected to an online eligibility checker to quickly verify if they meet program requirements.
Furthermore, to be eligible properties must be:
- Single-family attached and detached properties
- Condominium units
- Manufactured homes permanently affixed to real property and taxed as real estate
- Mobile homes not permanently affixed to real property
- Land contracts
- And also 1 to 4-unit properties where the homeowner is living in one of the units as a primary residence
Pre-registration for Alaska Housing Homeowner Assistance opens Monday at their official site. You can submit your applications from March 14 through April 4. So, the deadline to apply is Monday, April 4, 2022, at 11:59 p.m. AKST.