Friday, January 21

$ 539 million Announced to Help New York Homeowners With Back Mortgage Payments

The State of New York launched a plan to assist in the payment of mortgages

Photo: Edwin Martínez / Impremedia

Be able to continue in their homes in the middle of the COVID-19 pandemic it has become a top concern for millions of New Yorkers. And after the State launched a lifeline that has served only a percentage of delinquent tenants who have managed to receive help with the payment of their rents, now New York will allocate $ 539 million to reach out to homeowners low- and moderate-income families who have struggled with paying their mortgages.

This was announced by the New York Governor Kathy Hochul, who explained that the New York State Homeowners Assistance Fund (“NYS HAF”) applications will begin on January 3, 2022. The program will be managed by the state affordable housing agency Homes and Community Renewal and is managed by Sustainable Neighborhoods.

“We are very aware of the fact that there are many, many homeowners who are also suffering. Those who live on the margins to begin with, who lost their income through no fault of their own, due to the pandemic and fell behind in their payments, or could not make their other payments to be able to live in their homes, “he said. the state agent.

“These funds are for homeowners who are on a forbearance plan and are behind on their mortgage. And also for those who were not offered indulgence, they were simply told that they were losing their homes. ” added the Governor. “Also for those who are behind on a condo and condo owners and cooperative owners who might be behind on their maintenance costs, as well as those who live in manufactured homes who are behind on their loans.”

For more information, New Yorkers can visit the HAF website now or contact the HAF Call Center. New York State Homeowner Assistance Fund al 1-844-776-9423 to find out the documents they will have to present to apply for the aid and to know who qualifies.

The program is federally funded and has as its primary goal helping homeowners who are at risk of default, foreclosure, or displacement as a result of a financial hardship caused by the COVID-19 pandemic.

Hochul warned that in order for more potential beneficiaries of the aid program to access the funds, they will carry out an outreach and education campaign, with the support of 70 organizations.

To be eligible, households must be at or less than 100% of the AMI, which in New York City is $ 107,400 for families of three.

The state president stressed that the application process, through the internet, will be simple and straightforward and mentioned that the available resources will be assigned in order of application.

“This shouldn’t be so complicated that people give up. And that’s what we’ve seen in the past. Then there will be a simple application. is where we want to go. We will process requests as they arrive. The first will be served, ”said Hochul.

The president also mentioned that the priority will be for homeowners who are already in litigation and for those who are at greater risk of being evicted from their homes and displaced.

“There are families that are so stressed that they are thinking about what they can do to prevent foreclosure from happening, the loss of their beloved home,” said the Governor. “This is the life preserver you have been waiting for.”

Where to apply and find out more about the aid program?

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