New $50M Wyoming Homeowner Assistance Fund Program Launches to Help Homeowners
Wyoming received $50 million from the U.S. Department of the Treasury for its Wyoming Homeowner Assistance Fund Program, which opened on May 2nd. This program is administered by the Wyoming Department of Family Services with assistance from the Wyoming Department of Workforce Services.
The HAF Program emphasizes mortgage delinquency over other past-due expenses, according to the Wyoming Department of Finance. Utility bills that are past due, property taxes, homeowners insurance, and homeowners association dues are all acceptable charges. The maximum amount allowed per household is $17,000.00, which will be paid directly to servicers, county treasurers, insurance, and utility companies. on behalf of the homeowner.
For the Wyoming Homeowner Assistance Fund Program, Wyoming homeowners must meet the following requirements:
- You must not have previously received a HAF award. This is a one-time request. Clients who have already received HAF payments are not eligible to apply.
- Must own a property in Wyoming, including those on the Wind River Reservation.
- The property must currently be your primary residence.
- Must have a total annual household income at or below 150% of the area median income (AMI).
- The household must have experienced a COVID-related financial difficulty that caused the household to become past due after January 21, 2020.
- Must be behind on at least one payment, including forbearance payments. Only arrears are covered by the grant (no prospective or ongoing payments).
“If applying for mortgage assistance, the loan must be the first lien on the property,” DFS says. “The homeowner must not intend to sell the property within six months of receiving assistance. If a homeowner owes more than $17,000 in arrears or cannot make payments moving forward, the HAF Program will require them to do housing education.”
The application is only available online, according to Wyoming DFS. Those wanting assistance with their applications should call 1-888-996-4237 between the hours of 9 a.m. and 6 p.m. Monday through Friday.