Application Process Commences for Forward Mortgage Payments under Wyoming Homeowner Assistance Fund Program
Casper, Wyoming Homeowner Assistance Fund (HAF) Program has opened its doors to applications aimed at helping eligible homeowners with up to three months of consecutive forward mortgage payments.
Wyoming’s Department of Family Services Director, Korin Schmidt, acknowledged that there are numerous homeowners who dutifully pay their mortgage first, yet find themselves grappling to afford other living expenses such as groceries, utilities, and various bills. Schmidt stated, “Integrating forward mortgage payments into the HAF Program enables us to provide temporary relief to these Wyoming homeowners, giving them a chance to get back on their feet with their outstanding bills.”
Wyoming’s HAF Program, which centralizes its efforts on helping homeowners maintain their homes, has been allocated $50 million from the U.S. Department of the Treasury. Since its introduction in May 2022, the HAF Program has managed to distribute about 16% of this available funding to struggling homeowners in Wyoming.
Schmidt added, “We have diligently collaborated with mortgage lenders to promote the program, but the application numbers remain low.” This, she attributes to the state’s low number of mortgage delinquencies, estimating fewer than 5,000 statewide. Schmidt elaborated that many of those are actively seeking more sustainable solutions with their lenders, which may not be available if they opt for HAF support. “This new initiative in the program allows us to extend our aid to Wyoming homeowners who find it tough to make ends meet, yet remain current on their mortgages.”
As of February 23, the HAF Program has rendered assistance to 976 Wyoming homeowners, accounting for about $8 million in aid. From this amount, $7.7 million addressed delinquent mortgages, $270K catered to unpaid utility bills, $71K settled overdue property taxes, $5K covered outstanding homeowners insurance, and $21K went towards unpaid homeowner association dues.
The HAF Program enables eligible homeowners to access up to $17,000 in assistance as a one-off award to settle overdue payments and cater to up to three consecutive months of forward mortgage payments. This award is paid directly to the servicer or vendor on behalf of the qualifying homeowner.
The HAF Program now incorporates the following:
- Mortgage Delinquency: Providing financial assistance to reinstate a mortgage or pay other housing-related costs associated with a period of forbearance, delinquency, or default.
- Forward Mortgage Payments: Covering up to three consecutive months of forward mortgage payments, with a focus on delinquencies.
- Overdue utility payments: Covering costs associated with electricity, energy including fuel, oil and propane, and water and sewer. Internet costs are, however, not covered.
- Overdue housing-related bills: Settling property taxes, homeowners insurance, or homeowner association dues.
Homeowners can apply for the program online at dfs.wyo.gov/haf.
For those requiring assistance with the application process, the call center operates toll-free at 1-888-WYO-HAFP (1-888-996-4237) from 9 a.m. to 6 p.m. from Monday to Friday.
The HAF Program is a temporary federally funded assistance initiative and the available funds are finite.
Eligibility criteria stipulate that homeowners:
- Must not have received a prior HAF award. This is a one-time award, and any eligible homeowners who have received HAF payments previously cannot reapply.
- Must own and currently occupy a property in Wyoming, including properties on the Wind River Reservation.
- Must have a total annual household income at or below 150% of the area median income.
- Must have experienced a COVID-related financial hardship post-Jan. 21, 2020.
- If applying for mortgage assistance, the loan must be the first lien on the property, and the homeowner should not intend to sell the property within six months of receiving assistance.
