As you know, Coloradans pay billions of dollars in state and federal taxes every year. If you’re a homeowner or renter, you may be entitled to get some of your hard-earned money back. Here are several programs that can give eligible individuals money for their rent or mortgage.
A great opportunity if you have a mortgage
The Homeowner Assistance Fund is part of the American Rescue Plan Act of 2021, which provides up to $9.961 billion for every state, territory, and tribal entity in the United States (source). This program was intended to help Americans avoid foreclosures and loss of utilities during the economic disruption of COVID-19.
Although the program is federally funded, funds are administered by the states. Residents of Colorado may apply at this site. You may qualify if you:
- Own and live in a home in Colorado as your primary residence
- Experienced financial hardship after January 21, 2020 such as lost income or higher expenses due to COVID-19
- Are behind on your mortgage, property taxes, property insurance, homeowner or condo fees, or utility bills.
- Have a household income at or below 100% Area Median income.
- Have a loan under conforming loan limits (non-jumbo loan) at the time of origination or most recent refinance.
Federal Homeowner Assistance Funds must be used by September 30, 2025.
Get money for rent, repairs and more
The Colorado Department of Local Affairs has now used up its federal emergency rental assistance funds, but the cities of Boulder, Denver, and Larimer may still have funds available. You’ll find links to those cities’ programs at this site.
The Colorado Apartment Association also offers an extensive list of governmental and non-governmental organizations that may be able to offer rental assistance to those who are struggling. Check that out here.
The further we get from the pandemic, funds for some of these programs become more scarce, so please click on the websites above today to see if you qualify.
What do you think?
Are your finances still recovering from the pandemic?
Which of these programs could benefit you and your family?
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