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Covid lockdowns may have long since disappeared, but support is still needed for homeowners who have suffered a financial blow from the pandemic.
If you own a home that has been affected by Covid-19, you may be eligible for assistance ranging from $17,000 to $120,000 through your state’s Homeowners Assistance Fund (HAF). , and a host of other expenses similar to owning a home.
The HAF budget will be available until September 30, 2025 or until the budget is exhausted in your state or territory.
The Homeowner Assistance Fund (HAF) is a program established as part of the U. S. bailout. U. S. Covid Centers for Disease Control and Transportation to help others who have fallen into their loans and other housing expenses due to Covid-19.
The program’s budget is managed through states, territories, and tribes. Everyone’s HAF benefits look a little different, but eligible owners can use the cash for the following purposes:
In most states, HAF cash is awarded as a grant, meaning it doesn’t have to be paid back. But some states offer the budget as an interest-free loan that pays off over time or doesn’t have to be paid back. unless you sell, refinance, or move ownership of your home.
According to a spokesperson for the National Council of State Housing Agencies (NCSHA), only about 66,000 homeowners got the HAF budget in the first part of 2022.
“The impact has been huge,” says Jeremy Wine, head of specialized consulting facilities and partnerships at Take Charge America, a nonprofit that provides guidance to HAF candidates.
“Most applicants don’t have enough emergency savings to cover late loan installments. Others have exhausted their abstention functions but don’t have the lump sum to catch up,” says Wine.
“HAF’s budget has allowed them to get their heads out of the water and regain a monetary base they have had since the beginning of Covid. “
Owners will need to meet each of the following needs to qualify for HFA funds:
Most U. S. states and territories are in the U. S. U. S. citizens are recently accepting HOF applications, adding Washington, D. C. and Puerto Rico. These are the maximum amounts available depending on the household:
The states that no longer qualify for the programs are Alaska, Florida, New York and Rhode Island. But if your state is on this list, there may still be a chance to get help.
“Many HAF directors have changed their systems to meet changing desires in their states, adding expanded eligibility, expanding maximum amounts of assistance, and adding new assistance systems,” an NCSHA spokesperson said.
“If you have already reviewed your state’s HAF eligibility requirements and were not eligible, you may need to check the back of the program to see if that has changed,” the spokesperson recommends.
If you’re looking for help beyond HAF, those options:
The steps to apply for HAF depend on where you live, but you can start by visiting NCSHA. org to locate your state’s or territory’s HAF website. If programs are closed, you may need to sign up for a waiting list or sign up for alerts.
Here’s what you can expect the procedure to look like:
Be sure to conscientiously comply with the commands on your state/territory’s online page to submit your data and documents. You’ll want to make sure you meet the program’s revenue stream requirements and may want to provide documentation about your source of income. and predicament.
“A common cause of delay is for borrowers to submit incomplete applications, which requires
follow-up to download missing knowledge and/or documents,” the NCSHA spokesperson said. “We recommend that you seek assistance from HAF and thoroughly review the application requirements before completing and submitting an application to provide all the data the state wishes to begin without delay. the review process. “
Depending on the volume of requests, it may take 30 to 90 days or more to review your request and get a response.
In the meantime, keep an eye out for communications from your HAF administrator, which can be emails, phone calls, or updates on your state’s application portal.
Some applicants may also be assigned a housing counselor at this stage, to assist with communication with the lender or to provide housing education for the program.
If approved, the HAF quote will most likely be sent directly to your loan officer or other service providers. If your request is denied, you may have to appeal.