Michigan’s Homeowner Assistance Fund Successfully Grants Over $114 Million in Aid in Year One
In its first operational year, the Michigan Homeowner Assistance Fund (MIHAF), supervised by the Michigan State Housing Development Authority (MSHDA), has distributed over $114 million in aid to 15,688 homeowners.
Initiated in February 2022, MIHAF was designed to assist Michigan homeowners who have been facing financial difficulties due to the COVID-19 pandemic. The program is funded by federal resources made available through the American Rescue Plan Act of 2021 and allows up to $25,000 per qualified household to be used for home-related expenses, including overdue mortgage and property tax payments, escrow shortages, and utilities.
Governor Gretchen Whitmer voiced her support for the program, saying, “Every Michigander deserves a safe, affordable place to call home, and I am proud of the Michigan Homeowner Assistance Fund for providing relief to over 15,000 homeowners over the last 12 months.” She stressed the importance of these critical resources in enabling families to keep their homes and maintain basic utilities. She also emphasized the ongoing need to build more housing and ensure every family can retain their homes, thereby building wealth.
The U.S. Department of the Treasury has assigned slightly over $242.8 million to Michigan for the MIHAF program. While more than $114 million has been disseminated to eligible homeowners, there are still over $56 million available to aid additional homeowners in preventing foreclosure.
MSHDA Executive Director Amy Hovey acknowledged the combined efforts of Governor Whitmer and the Homeownership staff in executing necessary measures to help Michigan homeowners evade foreclosure and its negative impact on neighborhoods and communities. She also confirmed that they continue to accept applications for this program and urged eligible homeowners who need help to apply.
Eligibility for MIHAF requires applicants to have encountered a financial hardship directly linked to COVID-19 on or after January 21, 2020, or to have faced a qualified hardship that started before this date but continued afterward. Households may also qualify if the household income is below 150% of the Area Median Income (AMI). The property in question must be the owner’s primary residence.
Michigan homeowners who wish to learn more about MIHAF or are considering applying for the program can visit Michigan.gov/MIHAF. Additionally, they can receive assistance with their application process by contacting 844-756-4423.