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According to the Arizona Department of Housing, after the inclusion of $197 million in new federal pandemic relief funding to the state’s Homeowner Assistance Fund many low and middle-income homeowners who are struggling with their mortgage bill payment because of loss of income or increased healthcare costs, can get help.
This assistance is available so people can prevent foreclosure, recipients can also use the funds for household expenses, insurance, and paying bills.
Homeowners whose gross annual household income is 150% or less of the area’s median income can qualify for this program and it is obtainable only if it is the applicant’s primary residence.
For residents of Pima County, the income limit ranges from $72,094 to $102,938 depending on the household members.
Tom Simplot, Director of State Housing Department said that upon qualifying the aid payments are sent immediately directly to a homeowner’s loan servicer.
Programs like these are a boon for homeowners who’ve been badly affected due to the pandemic, Simplot urges homeowners who are struggling to save their home, to check their eligibility and apply immediately and avail of the benefit.
Maximum assistance of up to $3,500 monthly for combined payments of mortgage and utility bills is provided by the program. The aid of up to $25,000 per household can be sought by homeowners.
Reference Source: Tucson.com
