Wyoming Enhances Financial Aid for Qualifying Homeowners

In a significant move to assist Wyoming homeowners grappling with the aftermath of the COVID-19 pandemic, the Wyoming Homeowner Assistance Fund (HAF) Program has undergone substantial expansion. The recent updates encompass the inclusion of partial claims and a substantial increase in the maximum payment from $17,000 to a more robust $35,000. These enhancements are strategically designed to offer comprehensive support, enabling more homeowners to maintain their residences and regain financial stability.

Wyoming secured a substantial $50 million in homeowner assistance from the U.S. Department of the Treasury for its HAF Program. Since its initiation in May 2022, the program has made a substantial impact, providing assistance to 1,496 Wyoming homeowners, totaling an impressive $11.2 million.

Key Highlights of the Expansion:

1. Inclusion of Partial Claims: The expansion now caters to homeowners who restructured their mortgages to safeguard their homes during the pandemic but are now confronted with substantial payments at the conclusion of their mortgage. Eligibility is extended to those who experienced a COVID-related financial hardship after Jan. 21, 2020, and opted for a partial claim second mortgage.
2. Increased Maximum Payment: Eligible homeowners can now receive an increased one-time award of up to $35,000. This financial aid is intended to address various critical areas, prioritizing specific needs.

Prioritization of Assistance:

The expanded HAF Program follows a structured prioritization for financial assistance, focusing on the most pressing needs of homeowners:

1. Mortgage Delinquency: Financial assistance to reinstate a mortgage or cover other housing-related costs linked to forbearance, delinquency, or default.
2. Partial Claims: Assistance to pay off a portion or the entirety of a COVID Partial Claim with HUD. Partial claims, received after Jan. 21, 2020, due to a COVID-related financial hardship, may now be eligible for coverage. It’s important to note that the HAF Program will not cover deferral payments.
3. Forward Mortgage Payments: Support for up to three consecutive months of forward mortgage payments.
4. Past Due Utility Payments: Coverage for electricity, energy costs (fuel, oil & propane), water, and sewer. (Internet costs are excluded from eligible expenses.)
5. Past Due Housing-Related Bills: Assistance for property taxes, homeowners’ insurance, or homeowner association dues.

These expanded provisions aim to comprehensively address the diverse challenges faced by Wyoming homeowners, ensuring a more resilient and stable housing environment. The HAF Program stands as a vital resource in the ongoing recovery efforts, providing substantial financial support where it is needed most.