Struggling Homeowners Could Now Get Up to $80,000 in Stimulus Aid (2023)

Talk about a huge amount of relief.

Key points

  • The Homeowner Assistance Fund could give out almost $10 billion in aid.
  • Homeowners who need assistance could qualify for $15,000 to $80,000.

Check out our pick for Best Cash Back Card of 2022

(Video) Biden's $10B SECRET Mortgage Stimulus & How To Get Money!

Many homeowners have experienced income loss in the course of the pandemic. And while some may have recovered from the events of the past two years, other homeowners might still be struggling to keep up with their housing payments, especially in light of recent inflation.

Early on in the pandemic, homeowners were given the option to hit pause on their mortgage payments via a process known as forbearance. But that option expired after 18 months, which means mortgage borrowers who took advantage of it early may have exhausted that relief months ago.

(Video) HAF has issues. Hard to get that free government housing money...but there is a way.

The good news, though, is that there's still relief available for homeowners who are struggling to pay their housing expenses. And some homeowners could be eligible for as much as $80,000 in aid.

Relief for those in need

While certain protections like mortgage forbearance have largely run out at this stage of the game, there's still some aid available for property owners thanks to the Homeowner Assistance Fund. That fund has a good $10 billion available to pay to homeowners who are behind on their mortgages and other housing-related expenses.

As was the case with rental assistance funds, money from the Homeowner Assistance Fund will be given out at the state level. But eligible recipients will be in line for anywhere from $15,000 to $80,000. That money can cover expenses including:

(Video) !*These 32 States Sending! Stimulus Checks! $2,000 in BANKS OF MILLIONS OF AMERICANS! PAID OUT DATES

  • Mortgage payments
  • Property tax bills
  • Homeowners insurance fees
  • HOA fees
  • Utilities
  • Certain home repairs

Who's eligible for housing aid?

To qualify for aid under the program, homeowners will need to show they experienced a financial hardship related to the COVID-19 outbreak. They'll also need to have a household income that's below 150% of their area's median income or below $79,990 -- whichever is higher.

Applicants will not have to show proof that they've fallen behind on their housing payments already. This means that those who are at risk of missing a mortgage payment but haven't actually done so yet can still qualify.

How to apply

Since the program is being run at the state level, the application process can vary from state to state. The National Council of State Housing Agencies has an interactive map where those looking for aid can learn more about how to apply in their respective states.

(Video) but HAF ain't one. Do these 4 things before you apply for that free government money

Those seeking aid should be aware that not every state has started the application process yet. But anyone in need of assistance shouldn't hesitate to start exploring their options immediately. While $10 billion might seem like a pretty generous pool of money, those funds could run out quickly, just as some states have exhausted their rental assistance funds.

Any homeowner who's applying for housing aid should contact their mortgage loan servicer and discuss that fact. Some loan servicers may be willing to be flexible with homeowners who are having a hard time making their payments and have pending applications for aid. In fact, it's especially important for homeowners facing foreclosure to loop in their loan servicers to potentially avoid that fate. Some loan servicers might put the brakes on foreclosure proceedings if they know aid could be on the way.

Alert: highest cash back card we've seen now has 0% intro APR until 2024

If you're using thewrong credit or debit card, it could be costing you serious money.Our experts love this top pick,which featuresa0% intro APRuntil 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Readour free review




(Money Pro)
2. MASSIVE Insurance Increases Starting To BANKRUPT Homeowners
(Michael Bordenaro)
3. Mortgage Assistance Program for Homeowners. HAF Homeowner Assistance Fund.
(Scott Allums)
4. Big problem with that free government mortgage assistance cheese.
(Motivational Esquire)
5. Make sure you're aware of this new homeowner stimulus scheme
(TMJ4 News)
6. $2 million in emergency mortgage relief still available for homeowners
Top Articles
Latest Posts
Article information

Author: Carlyn Walter

Last Updated: 03/18/2023

Views: 6211

Rating: 5 / 5 (70 voted)

Reviews: 85% of readers found this page helpful

Author information

Name: Carlyn Walter

Birthday: 1996-01-03

Address: Suite 452 40815 Denyse Extensions, Sengermouth, OR 42374

Phone: +8501809515404

Job: Manufacturing Technician

Hobby: Table tennis, Archery, Vacation, Metal detecting, Yo-yoing, Crocheting, Creative writing

Introduction: My name is Carlyn Walter, I am a lively, glamorous, healthy, clean, powerful, calm, combative person who loves writing and wants to share my knowledge and understanding with you.