The American Rescue Plan Act has set aside funding to help people at risk of losing their home.
This is known as the Homeowner Assistance Fund (HAF).
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:
Alaska – Applications closed on April 4.
Hawaii – Temporarily closed applications on March 4.
Running pilot programs:
District of Columbia
Preliminary information available:
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.