With a prize pool totaling nearly $700 million, the state is accepting applications for funds aimed at helping homeowners who have been impacted by the COVID-19 pandemic.
Read on to learn more about the program and how to apply if you need help staying at home.
UP TO $65,000 IN HOMEOWNER ASSISTANCE
So far, the Texas Homeowner Assistance Fund has distributed nearly $39 million to about 5,000 households. According to the publicly available online dashboard, the average household received about $7,000 in assistance.
Texas Department of Housing and Community Affairs executive director Bobby Wilkinson said the program could cover up to $40,000 in delinquent mortgage payments and up to $25,000 in property taxes, home insurance and late HOA fees.
“It’s there to help people keep their homes,” Wilkinson said.
Congress allocated the money to homeowners as part of the American Rescue Plan Act signed by President Biden last March.
Payments are released to the mortgage agent or tax office, insurance company, or HOA after the homeowner’s application is approved.
WHO CAN APPLY?
Among the eligibility conditions: the owner must be at the origin of at least one payment and the accommodation must be his main residence.
Owners must have experienced financial hardship such as loss of income or increased expenses due to the pandemic. The owner must show that he could meet future payments after receiving assistance.
“You also need to be able to show that we wouldn’t just give the money and you’ll still be seized the following month. You need to be able to show that you could, in the future, pay the mortgage of the following month,” Wilkinson explained.
There is an income requirement. You can check the threshold here.
Some of you may have entered into a forbearance agreement with your loan servicer to suspend mortgage payments during the pandemic.
Wilkinson said the program can help people coming out of forbearance who need help catching up: “If you just had to make four months of mortgage payments all at once, that’s not reasonable for the household. middle income.
If you’re still out, Wilkinson said you’ll need to make arrangements to go out to apply.
WHERE TO GET HELP WITH QUESTIONS
Applications are taken online via this portal.
Some applicants may have difficulty completing the application on a mobile device. If you don’t have a computer, try your local public library to use a computer there.
Wilkinson said the program works to enroll local nonprofits to serve as drop-in centers, helping landlords submit applications in person.
NBC 5 Responses asked how long it might take for eligible contestants to see the payouts. Wilkinson said it would depend on several factors, including whether the state is already working with your mortgage agent.
You can call this toll-free number if you have any questions: 1-833-651-3874. The call center takes calls from 8 a.m. to 6 p.m., Monday to Friday. Help is available in multiple languages.
NBC 5 Responds recently called and found there was no wait to speak to someone.
Depending on the program, applicants should be sure to provide an email address that they check frequently and a good phone number so that the person reviewing the application can get back in touch.
TDHCA also administered the Texas Rent Relief program until applications closed last November. Wilkinson said the new funding round is specifically for landlords and cannot be redirected to reopen the Texas Rent Relief program.
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