DC Homeowner Assistance Fund Program: Are You Eligible?
Funded by the U.S. Department of the Treasury through the American Rescue Plan of 2021, the DC Homeowner Assistance Fund Program is here to help struggling homeowners behind on their mortgage payments, property taxes, utilities, homeowner association fees, as well as other housing expenses. The maximum amount qualifying homeowners may receive is $120,000.00, paid directly to mortgage servicers, lenders, etc.
“The HAF program will provide some much-needed breathing room to those vulnerable homeowners in the District looking for the best path to staying in their homes,” said John Falcicchio, D.C. deputy mayor for planning and economic development, in a press release. “We strongly encourage those eligible to take advantage of these programs as it will not only benefit them but also promote economic recovery throughout the city.”
There are certain requirements that must be met by both the applicant and their property to be approved. The homeowner’s household income must be at or below 100% of the Area Median Income. For socially disadvantaged homeowners, the required income is 150%. The property must serve as a primary residence to the homeowner and must have been so since June 1, 2021.
The applicants must have fallen behind the above-mentioned payments after January 21, 2020, as follows:
- Mortgage Reinstatement: at least 3 months behind;
- Homeowner, Condominium, or Cooperative Association: at least 1 payment behind;
- Homeowners Insurance: at least 1 payment behind;
- Property Taxes: t least 1 payment behind;
- Utilities (electric, gas, home energy, water, and/or internet services): at least 1 payment behind.
The reason for the financial hardship must be Covid-related after January 21, 2020, including, job loss, reduction in working hours, decrease in wage, temporary closure, etc. For more information visit DC Homeowner Assistance Fund Program’s official site. You can also call (202) 540-7407, or email [email protected].