Kansas Homeowner Assistance Fund Concludes, Aiding Over 4,000 Homeowners
WICHITA, Kan. – The Kansas Homeowner Assistance Fund (KHAF), a critical support program for homeowners during the COVID-19 pandemic, has officially concluded its operations, as announced by the Kansas Housing Resources Corporation.
The KHAF, established under the American Rescue Plan Act, was a temporary emergency initiative aimed at providing financial relief to homeowners affected by the pandemic. Its primary goal was to help qualifying homeowners catch up on their mortgage payments and prevent foreclosure, addressing the urgent need for housing stability during the crisis.
Since its inception in April 2022, the KHAF has made a substantial impact, distributing nearly $49 million in assistance to over 4,300 homeowners across the state. The program’s reach extended to 98 of the 105 counties in Kansas, demonstrating its widespread effectiveness. Notably, 93% of the homeowners who received assistance were living below 100% of their area’s median income, highlighting the program’s focus on supporting those most in financial need.
The success of the KHAF was also due in part to the collaboration with 275 mortgage servicers, which facilitated the efficient distribution of funds and assistance to homeowners. Additionally, the program offered valuable resources such as HUD housing counseling and legal services, providing comprehensive support to those facing housing challenges.
According to the U.S. Department of Treasury, Kansas was highly efficient in utilizing its allocated funds, distributing 96.3% of them by the first quarter of 2023. This efficient allocation of resources underscores the state’s commitment to addressing the housing needs of its residents during the pandemic.
Furthermore, the impact of the KHAF on reducing foreclosures has been significant. The Kansas Housing Resources Corporation reported that foreclosure starts for the first half of 2023 were down to just 34 percent of the levels seen in 2019, ranking among the lowest of all states. This decline in foreclosure starts is a testament to the effectiveness of the KHAF in stabilizing the housing situation for many Kansas residents during a period of economic uncertainty.
While the KHAF program has ended, applicants who have already received assistance can continue to monitor their scheduled forward mortgage payments through the KHAF portal. This ongoing support ensures that homeowners can stay informed about their financial obligations and maintain housing stability.
In summary, the Kansas Homeowner Assistance Fund has played a pivotal role in supporting over 4,300 homeowners during the COVID-19 pandemic. Through financial assistance, collaboration with mortgage servicers, and additional support services, the KHAF has contributed significantly to reducing foreclosures and promoting housing stability in Kansas. The program’s closure marks the end of a crucial chapter in the state’s response to the pandemic’s economic challenges.
