Stimulus: Mortgage Assistance Worth Up to $80,000 Available

The American Rescue Plan sets aside money for states to use to develop initiatives to assist people in staying in their homes.

The Homeowner Assistance Fund, which is part of the American Rescue Plan, distributes $10 billion to states and U.S. territories each year as part of the program.

Many states have already begun taking applications, and others will do so as soon as they have the necessary finances.

You can use the money to pay for your mortgage, insurance, and utility bills.

Eligibility for government-sponsored homeownership assistance programs
The funds are intended exclusively for homeowners who have been adversely affected by the pandemic.

If you experienced financial difficulties after January 21, 2020, you may be eligible for assistance.

This is true for those who have endured hardship before this time but have seen it continue past the deadline of January 21, 2020.

Your income must be 150 percent or less of the area median income, or 100 percent of the median income for the United States, in order to qualify.

Your mortgage debt must be less than $548,250 to qualify.

What you get will be determined by your current state.

California is the state with the highest offer, at $80,000.

The state of Arizona is giving up to $25,000 in compensation.

Georgia has donated $50,000 to the cause.

Oklahoma is donating $20,000 to the cause.

Find out if you qualify for this program here.

Residents of the following states can apply for stimulus funds through HAF initiatives in the following states:

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Guam
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey

Find out if you qualify for this program here.

Parents will be able to receive financial assistance starting in 2022.

Ohio
New York
North Carolina
North Dakota
New Mexico
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

It is likely that the monies will be paid straight to your mortgage lender and other servicers if you submit an application through your state and are granted.

Find out if you qualify for this program here.

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