Homeowner Stimulus Relief Program: How does it work in August 2022?
A fund has been put in place to try and help homeowners keep on top of their payments and avoid foreclosures.
The American Rescue Plan Act provides up to 9.961 billion dollars for states, the District of Columbia, U.S. territories, Tribes or Tribal entities, and the Department of Hawaiian Home Lands to provide relief for American homeowners that are at risk of falling behind on payments.
The listed reasoning behind the formation of the Homeowner Assistance Fund (HAF) is to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services, and displacement of homeowners experiencing financial hardship after January 21, 2020.