Mortgage Assistance: Up to $65,000 Available for Americans in Need

Residents of Texas may be eligible for government assistance with their mortgage payments. Due to the epidemic, the Texas Homeowner Assistance Fund (TXHAF) will now provide financial assistance to qualified Texas homeowners who have fallen behind on their mortgage and other related expenditures. The Texas Department of Housing and Community Affairs administers the program, which is funded by the Homeowner Assistance Fund under the American Rescue Plan Act of 2021, according to the TXHAF website.

For more information on getting a grant and also learning about refinance programs, take a look at this.

The funding comes in the form of mortgage grants of up to $40,000.00 per household. Another $25,000.00 is set aside for taxes, insurance, and HOA costs. TXHAF funds can be used to help qualified homeowners catch up on late payments on their mortgage, property tax, property insurance, and HOA or condo fees.

Albert Uresti, the tax assessor, and collector, told KENS5: “Even though this is not a county program, the beauty about this program is these are grants and they do not have to be repaid. It is free money. The people who are applying are struggling because of COVID.  They are feeling the effects of COVID and want to get back on their feet,” Uresti said.

To receive the funds, residents must meet the following criteria.

• Own and occupy a home in Texas as a primary residence
• Experienced a qualified financial hardship after January 21, 2020
• A household income at or below 100% of area median income or 100% of the median income for the United States, whichever is greater
• And also have fallen behind on one or more of the following payments:
  • Mortgage loans
  • Property taxes
  • Property insurance
  • HOA/condo association fees

When submitting an application, homeowners must include their identification card, mortgage statement, evidence of habitation (such as a utility bill), income documentation (such as pay stubs), and signed program forms. Once the homeowner’s application is granted, payments are delivered directly to the mortgage servicer or property charge payee (tax authority, insurance company, or HOA). Payment is made by either ACH/ direct deposit or check. Visit the official website for additional information and to apply. For additional assistance, contact the Call Center at 1-833-651-3874.

For more information on getting a grant and also learning about refinance programs, take a look at this.