Homeowners Get Their Turn at Covid Relief Funds
Last year, state officials were able to channel federal covid-19 relief funding to Pennsylvania renters in need of financial assistance. Starting Tuesday, they will look to provide similar relief for homeowners.
“As Pennsylvania continues to manage out of the covid-19 pandemic, we continue to make key investments in areas where people have been hardest hit, including housing,” said Senate Majority Leader Kim Ward, R-Hempfield.
As we continue to advance our COVID-19 recovery efforts, we must address the rising number of homeowners facing possible loss of their homes and foreclosure – this program will do just that,” said Gov. Wolf. “The Homeowner Assistance Fund will prioritize individuals and families with the greatest need, as well as those who are socially disadvantaged. I am grateful that the U.S. Treasury has approved Pennsylvania’s plan, and we can start the new year by distributing this critical funding to homeowners.”
The Commonwealth of Pennsylvania was awarded more than $350 million in American Rescue Plan Act funds through the U.S. Department of the Treasury’s Homeowner Assistance Fund (HAF). The fund supports Pennsylvania homeowners whose household income is at or below 150% of the area median income (AMI) that now must grapple with additional unforeseen financial hardships as a result of the COVID-19 pandemic. PAHAF will use these funds to provide eligible Pennsylvania homeowners with much-needed assistance to prevent and/or ease mortgage delinquencies, defaults, foreclosures, displacement, and utility disconnection.
“Our mission is to help Pennsylvanians achieve housing stability despite the many hardships faced during these uncertain times,” said PHFA Executive Director and CEO Robin Weissman. “PAHAF will provide critical support to eligible Pennsylvania homeowners, allowing families to recover and helping communities overcome the devastating financial and economic impacts of the pandemic. “
More than $350 million in American Rescue Plan funding was awarded to Pennsylvania through the U.S. Treasury Department’s Homeowner Assistance Fund, which supports homeowners whose household income is at or below 150% of the area median income. The Pennsylvania Homeowner Assistance Fund will provide eligible homeowners with financial help to prevent or ease mortgage delinquencies, defaults, foreclosures, displacement, and utility disconnections.
Available PAHAF assistance programs include mortgage reinstatement assistance, forward mortgage payment assistance, assistance related to housing property charges, and utility payment assistance to avoid displacement. Funds will be distributed directly to mortgage lenders, utility providers, and other authorized third parties, not to homeowners.
To qualify, homeowners must have experienced an income reduction or increase in living expenses after Jan. 21, 2020, because of the covid-19 pandemic. They must own and occupy their home as a primary residence. A full list of eligibility requirements can be found at PAHAF.org/am-i-eligible.
Homeowners and other interested parties are encouraged to visit www.pahaf.org or call 888-987-2423 to explore PAHAF resources and information.
Applications will be available starting Tuesday, Feb. 1.