If you’re a homeowner in New Hampshire, you may be entitled to get some help from the Homeowner Assistance Fund to pay your mortgage if you experienced financial difficulties due to the pandemic. Here’s how this program works.
Federal payments are available to New Hampshire homeowners
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.
How do you know if you qualify to get some money?
You may qualify if you have experienced a COVID related reduction in income or increase in household expense after January 21, 2020. You must also own and occupy the property as their primary residence. And you income must be lower than 125% of Area Median Income. (source)
The NH Homeowner Assistance Fund covers several areas such as mortgage loan reinstatement (maximum benefit $40,000), property charges default resolution (maximum benefit $40,000) and utility/internet payment assistance (maximum benefit $5,000). It is important to note that the total maximum assistance per household is $40,000 (source)
Residents of New Hampshire may apply right here at this website.
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Disclaimer: Please note that this article is created for educational and informational purposes.