How to Get in Line for Homeowner Assistance Funds

The Covid-10 pandemic affected people in a lot of ways. From health scares to losing jobs, the world became even messier. That is why States in the US gathered together to help struggling homeowners and formed The Homeowner Assistance Fund (HAF). HAF is formed under the American Rescue Plan and it provides up to $9.961 billion for states, the District of Columbia, U.S. territories, Tribes or Tribal entities, and the Department of Hawaiian Home Lands to provide relief for our country’s most vulnerable homeowners.

The Homeowner Assistance Fund provides:

  • A minimum of $50 million for each state, the District of Columbia, and Puerto Rico;
  • $498 million for Tribes or Tribally designated housing entities and the Department of Hawaiian Home Lands;
  • $30 million for the territories of Guam, American Samoa, the U.S. Virgin Islands, and the Commonwealth of the Northern Mariana Islands.

Find out if you qualify for these programs here. 

This fund provides allocations to cover mortgage delinquencies, foreclosures, utility shut-offs, and displacements of homeowners experiencing financial hardship after January 21, 2020. Every low-income homeowner impacted by the pandemics can apply for this aid and use it for delinquent property taxes, homeowners association fees, internet service, and other expenses. Another important eligibility requirement is the household income and it can not surpass 150% of the area median income. 

States and territories are now working with the Treasury to finalize and implement their HAF programs, so you should get in line very soon. So how can struggling homeowners get in line for the cash? According to Julia Gordon, president of the National Community Stabilization Trust “You’ll be in a better position to access the state money if you’ve already contacted your servicer”. And if you need additional help, contact a housing counseling agency approved by the U.S. Department of Housing and Urban Development. The link below allows you to select a list of agencies for each state:

https://www.hud.gov/findacounselor

Find out if you qualify for these programs here. 

When communicating with your servicer, “document everything,” says David Dworkin, CEO of the National Housing Conference. “And keep those records.” He suggests creating a file and gathering all evidence such as layoff notices, unemployment insurance income, and documentation of your pre-COVID income.

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