Alaskan Homeowners Get Help from Assistance Funds
In response to the economic hardship caused by the COVID-19 pandemic, the federal government has been distributing relief funds to struggling homeowners in Alaska. As of late-December 2022, the Alaska Housing Finance Corporation has provided over $25 million in aid to 6,850 households, which translates to about 20,600 individual Alaskans. The funds are designed to prevent mortgage delinquencies, forbearance, and foreclosures, as well as the loss of vital utility and energy services.
The Alaska Housing Finance Corporation has been able to allocate relief funds to over 90% of the nearly 7,700 applications that were identified as eligible for the program. As the program has progressed and the needs of eligible applicants have been met, Alaska Housing has identified and provided additional assistance in select areas.
In December 2022, the corporation approved additional aid to provide past due property tax assistance and a third mortgage payment to eligible applicants who had requested this type of assistance in their original application. This assistance is generally targeted towards seniors and other Alaskans whose home mortgages have been paid in full but have still struggled with added health costs or loss of income due to the pandemic. The corporation has also prioritized mortgage delinquencies for payment over other expenses.
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The Alaska Housing Finance Corporation completed the first reviews and analysis of applications in early June 2022. These analyses revealed the widespread economic impact that the COVID-19 pandemic had on the state. The corporation used this information to calculate the best use of the available funds to relieve some of the financial burdens and anxieties that homeowners in Alaska have been experiencing due to the pandemic.
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Applicants who are still waiting to receive assistance are encouraged to check their status online with their unique confirmation code. If they do not have their code, they can check the confirmation email they received when they completed their eligibility check.
Alaskans who have questions or need assistance are encouraged to read the corporation’s FAQs or call 1-833-330-8290 toll-free. Additionally, those in need of legal advice about keeping their homes and their rights as homeowners can get free legal advice. Alaskans can also connect with a HUD-certified housing counselor for advice about making informed housing decisions.
The Alaska Housing Finance Corporation will continue to work with Mortgage Servicers to complete the program and meet the needs of Alaskan homeowners. For more information about the corporation and its programs, interested parties can visit ahfc.us.
