Wyoming Increases Funding for Qualified Homeowners

CHEYENNE, Wyo. – Big news for Wyoming homeowners! The Wyoming Homeowner Assistance Fund (HAF) Program is doubling down to help even more residents stay in their homes. Recently, the program expanded its scope to include partial claims and dramatically increased the maximum assistance payment from $17,000 to a whopping $35,000. All of this is part of a broader effort to support Wyoming homeowners who’ve faced financial hardships during the COVID-19 pandemic.

Initially funded with a generous $50 million grant from the U.S. Department of the Treasury, the HAF Program has been a lifeline for many. Since its launch in May 2022, it has distributed a staggering $11.2 million to aid 1,496 Wyoming homeowners.

But the program isn’t stopping there. The recent expansion specifically targets homeowners who restructured their mortgages during the COVID-19 crisis. Those who took on a partial claim second mortgage due to financial hardships caused by the pandemic may now be eligible for help. These partial claims often result in significant balloon payments at the end of the mortgage term, and the new provisions aim to alleviate that burden.

What does this mean for you? If you’re eligible, you can now receive up to $35,000 as a one-time assistance payout. The priority for distributing these funds will follow this order: first up is mortgage reinstatement, followed by partial claim assistance, delinquent “other expenses,” and then forward mortgages.

Here’s a breakdown of what the assistance covers:

• Mortgage Reinstatement: Funds can be used to help get your mortgage back on track if you’ve fallen behind.
• Partial Claims: If you received a COVID-related Partial Claim from HUD after January 21, 2020, you could pay off part or all of it with this assistance.
• Forward Mortgage Payments: Up to three consecutive months of regular mortgage payments can be covered.
• Past Due Utility Payments: Eligible for electricity, energy costs (fuel, oil, and propane), water, and sewer. Internet costs, however, are not covered.
• Other Overdue Housing-Related Bills: Think property taxes, homeowner’s insurance, or homeowner association dues.

Ready to apply? Head over to dfs.wyo.gov/haf. If you hit a snag or have questions, no worries! Call the toll-free number 1-888-WYO-HAFP (1-888-996-4237) between 9 a.m. and 6 p.m., Monday to Friday. But don’t drag your feet—this is a temporary, federally funded program, and funds are limited.

Before you rush off, take note of the eligibility requirements:

• You must not have received a previous HAF award. It’s a one-time deal.
• You need to own and currently occupy a property in Wyoming, including properties on the Wind River Reservation.
• Your total annual household income should be at or below 150% of the area’s median income.
• You must have faced a COVID-related financial hardship after January 21, 2020.
• If you’re applying for mortgage assistance, that loan has to be the first lien on the property, and you must not plan to sell the property within six months of receiving the aid.

So, if you fit the bill, now’s the time to take action and secure your financial future.