Homeowner Program in Tennessee Rewards Eligible Residents with Up to $40,000
Have you been struggling to pay your mortgage or rent due to financial hardship brought about by the COVID-19 pandemic? If so, you might be eligible for financial assistance through the Tennessee Homeowners Assistance Fund. This program offers eligible homeowners up to $40,000 in relief funds that can be used towards mortgage payments, rent, property taxes, homeowner or condo fees, utility bills, and other housing-related expenses.
The Homeowners Assistance Fund is part of the American Rescue Plan Act of 2021, which allocated $9.61 billion to every state, territory, and tribal entity in the United States to help struggling homeowners. However, instead of directly administering the funds, the federal government handed them over to the states. This means that Tennesseans can apply for relief funds at this site.
To qualify for the Homeowners Assistance Fund, you must own and live in a home in Tennessee as your primary residence, have experienced financial hardship after January 21, 2020, and be behind on mortgage payments or other housing-related expenses. Additionally, your household income must be at or below 150% of the National Median income, which is currently $135,000.
It’s important to note that these federal funds must be used by September 30, 2025, so time is of the essence. If you’re a renter, don’t worry – there are also programs available to assist you. Renters may benefit from the Family Self Sufficiency (FSS) program, rental housing assistance for property managers, owners, and landlords, and energy assistance programs. To see if you qualify for any of these programs, visit this site.
If you’re not sure where to start or if there are additional programs available in your community, the National Low Income Housing Coalition provides a comprehensive list of available programs on their website. Don’t miss out on this opportunity to receive much-needed financial assistance – click on the websites above today to see if you qualify.