HOUSE THAT Is There a Mortgage Stimulus Program and How Much Can You Get?

By
Mortgage and Lending with ChangeMyRate.com® A Mortgage Corporation NMLS #1326269

STRUGGLING homeowners may be wondering what support is available - and whether there's a mortgage stimulus program.

It comes as Americans have got used to receiving stimulus checks during the coronavirus crisis. We explain what you need to know.

Is there a mortgage stimulus program?

There’s no current mortgage stimulus program from Congress with that exact name, but federal funds have been made available to help homeowners.

This is known as the Homeowner Assistance Fund (HAF), which was part of President Joe Biden’s American Rescue Act.

The fund provides nearly $10billion for states, the District of Columbia, as well as other US territories.

These funds can be used for assistance with mortgage payments, homeowner’s insurance, utility payments, and more.

Although the support comes from federal funds, the cash is sent out to states to then distribute it.

Who is eligible and how to apply explained?

The fund is available for those who've experienced financial hardship after the pandemic initially hit the US.

To learn more about a mortgage stimulus program and the home buying process, visit the SCOOP! Blog

Comments (1)

Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Jackie! Hope you had a great thanksgiving!

Federal funds have been made available to help homeowners.This is known as the Homeowner Assistance Fund (HAF), which was part of President Joe Biden’s American Rescue Act. The fund provides nearly $10billion for states, the District of Columbia, as well as other US territories.

 

Nov 28, 2021 04:20 AM
Jackie A. Graves

Hi Sham, thank you for your comment. Stay posted for future blogs and make it a great day. 

Nov 28, 2021 02:12 PM