Stimulus Funds Available to Thousands of Nevada Homeowners
If you’re having trouble paying your rent or mortgage in Nevada due to financial difficulties resulting from the COVID-19 pandemic, there are several programs available to help you. These programs are aimed at providing financial relief and preventing foreclosures and evictions in Nevada.
One such program is the Homeowner Assistance Fund, which is a part of the American Rescue Plan Act of 2021. This program provides up to $9.961 billion to every state, territory, and tribal entity in the United States. The aim of this program is to help Americans avoid foreclosures and utility loss during the economic disruption of COVID-19. Although the program is federally funded, the states are responsible for administering the funds. Therefore, Nevada residents can apply at the program’s official website. To qualify, you must own and live in a home in Nevada as your primary residence and have experienced financial hardship after January 21, 2020, such as lost income or increased expenses due to the pandemic. Additionally, you must be unemployed or underemployed and have suffered a significant loss of income or a reduction in income, or a significant increase in expenses due to the pandemic. The Homeowner Assistance Funds must be used by September 30, 2025.
For renters, the State of Nevada has created the CARES Housing Assistance Program to help people who have been impacted by the pandemic and need help paying their monthly rent. To qualify for the program, you must have suffered a financial impact from COVID-19, such as lost employment or reduced work hours or wages. The program includes income restrictions based on your county of residence, so you can check your eligibility by visiting the program’s official website and selecting your county.
It’s worth noting that funds for some of these programs become more scarce as time goes on, so it’s important to act quickly and check the websites to see if you qualify. By taking advantage of these programs, you can get the financial help you need to keep your home and avoid the stress of foreclosure or eviction.
