$56 Million in Mortgage Relief Available to Homeowners

Mortgage Relief Available to Homeowners in Kansas

According to Marilyn Stanley, the program director for the Kansas Homeowner Assistance Fund, “In the first quarter of 2022, the state of Kansas had nearly 10,000 past-due mortgages, and 6 out of 19 of these mortgages are more than 3 months behind”. Numbers like these throughout the US resulted in the government creating the American Rescue Plan of 2021 and providing each state with enough funds to launch its Homeowner Assistance Programs. 

For more information on getting a grant and also learning about refinance programs, take a look at this.

The State of Kansas received a total of $56.6 million. The Kansas HAF program launched back in April and to date, 2,106 have been submitted, 813 have been funded and a total of $7,240,403.00 have been provided to struggling families.

The Kansas Homeowner Assistance Fund (KHAF), administered by Kansas Housing Resources Corporation (KHRC), provides financial aid to qualifying homeowners to cover delinquent mortgage payments, property taxes, HOA fees, utility bills, and other housing-related expenses. This financial hardship has to be a result of the Covid-19 crisis including job loss, reduction in working hours, increased medical bills, etc. after January 21, 2020. The property must be the applicant’s primary residence and it must be located in the territory of the State of Kansas. Eligible properties include single-family homes, one-to-four-unit dwellings, and manufactured or mobile homes. Secondary homes and vacation houses are not eligible. 

The applicant’s household income must be equal to or less than 100% of the median income in the United States or equal to or less than 150% of the Area Median Income (AMI) for the county in which they reside. Socially Disadvantaged People and applicants with incomes less or equal to 100% of AMI are given preference.

A maximum of $35,000.00 can be given to households for assistance with both mortgage payments and mortgage reinstatement. A household can only get a combined total of $10,000.00 in help with property taxes, utilities, internet, and broadband. If homeowners receive up to $25,000.00 they don’t need to pay them back. If it is more, they will get a two-year, non-interest-bearing, non-amortizing forgivable loan.

You can apply here for the Kansas Homeowner Assistance Fund (KHAF). View the Application Checklist before you apply. Call 855-307-KHAF (5423) or fill out the KHAF Contact Us form for further details on the financing options and requirements for the program.

For more information on getting a grant and also learning about refinance programs, take a look at this.

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