CFPB: Help Available to Homeowners Struggling to Make Housing-Related Payments Due to the Pandemic

Credit Unions: Note that the CFPB posted a blog entry today on the Homeowner Assistance Fund.

Notes the post:

If you are a homeowner and COVID-19 has made it difficult for you to pay your mortgage, utilities, property taxes, or other home expenses, financial assistance may already be available for you. The Homeowner Assistance Fund (HAF) was established by the American Rescue Plan Act to help homeowners financially impacted by COVID-19 with housing-related costs. This federal assistance program provides money to states, Tribes, territories, and the District of Columbia to assist homeowners with housing-related costs.

HAF can provide financial assistance for mortgage payments (including past due payments), and, depending on the program, may also be used for homeowners insurance, utility bills, property taxes, homeowners association fees, certain home repairs, and other specified housing costs. The amount of funds available per household will depend on your situation and where you live. Some locations have started accepting applications, and more are on the way. In total, approximately $10 billion will be disbursed to programs across the country.

How to apply for Homeowner Assistance Fund relief

The HAF program available to you will depend on your area. Each state or territory developed its own program. Programs were also developed by Tribes (or their Tribally Designated Housing Entity), the Department of Hawaiian Home Lands, and the District of Columbia. You’ll need to verify that you meet income requirements and may need to provide required documentation. You must confirm that you have experienced a financial hardship after January 21, 2020 and describe the nature of that hardship, such as a job loss, reduced income, or increased healthcare costs.

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