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Mortgage stimulus: Homeowners in each state may be eligible

The American Rescue Plan Act has set aside funding to help people at risk of losing their home.

home assistance

This is known as the Homeowner Assistance Fund (HAF).


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Who is eligible?

The Homeowner Assistance Fund (HAF) provides nearly $10 billion in funding to the states and US territories. All states and eligible territories have applied for the funding and many have now set up their own programs. If you are deemed eligible, the funds can be used for mortgage payments, homeowner’s insurance, utility payments, and more.

HAF is available for people who have experienced financial hardship because of the pandemic. To qualify, your income must be 150% or less of the area median income or 100% of the median income for the US, whichever is bigger. The mortgage balance must be less than $548,250.

Right now, California offers the highest maximum benefit of $80,000.

HAF programs in each state

HAF program is open in:

Alabama
Alaska – Applications closed on April 4.
Arizona
Arkansas
California
Connecticut
Florida
Georgia
Guam
Hawaii – Temporarily closed applications on March 4.
Idaho
Illinois
Indiana
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
Ohio
Oklahoma
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Vermont
Virginia
West Virginia
Wisconsin
Wyoming

Running pilot programs:

Colorado
District of Columbia
Iowa
Montana
Oregon
Washington

Preliminary information available:

Delaware
North Dakota
Utah

If you want to apply, check your state’s website for specific instructions. If your application is approved, the funds are typically sent directly to your mortgage lender.


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