Did you know that billions of dollars of stimulus money are available for many people whether you own or rent your home?
Here's how it works: the money comes from the federal government and is distributed to state and local agencies.
Programs For Those Who Rent Their Home
First, let's focus on those who rent. In January 2021, the U.S. Treasury awarded more than $560 million of rental assistance to the state and sent about $221 million directly to certain cities and counties in Ohio.
As an Ohio Resident, you actually have several things you can do if you would like some money for your rent. For example, you can go to one of the sixteen options listed out here such as the Hamilton County website which features information about money you can get for your rent. You can search the entire state database here.
Don't Rent? You Still Have Several Options
What are your options if you own your home? Well, the first thing you can do is go here to find out more about a specific government program. If you know that your situation is short-term and temporary, you can go here. If you know that your situation is more long-term, you can go here.
Now when you apply, you'll need some detailed information such as your monthly mortgage statement, information about any other mortgages on your home, two recent pay stubs (or a quarterly profit and loss statement for those self-employed), and more. (source)
You can also contact the U.S. Department of Housing and Urban Development here. There a counselor will discuss your situation and whether you qualify for any programs or additional help, and guide you through the process. You can also learn about any other programs and paperwork you may need.
Consider looking into the Homeowner Assistance Fund as well. Here is a short video summary all about it.
What do you think about this? Please feel free to share your thoughts in the comments.
Disclaimer: Please note that this article is only for educational and informational purposes.