Governor Hochul Announces First-in-the-Nation $539 Million Homeowner Assistance Fund to Assist Eligible New Yorkers at Risk of Foreclosure or Displacement
DEC 6, 2021 | REPUBLISHED BY LIT: DEC 7, 2021
Funding Will Help Low- and Moderate-Income Homeowners Impacted by the Pandemic Stay in Their Homes
To Learn More, Residents Can Visit the HAF Website or Contact the New York State Homeowners Assistance Fund Call Center at 1-844-77-NYHAF
Applications Accepted Beginning Monday, Jan. 3, 2022
Governor Kathy Hochul today announced that New York State is the first state in the nation to receive U.S. Department of the Treasury’s approval to launch its Homeowner Assistance Fund, a program that will provide up to $539 million to help eligible homeowners avert mortgage delinquency, default, foreclosure, and displacement. Applications will be accepted beginning Monday, Jan. 3, 2022.
“Many New Yorkers are still recovering from the pandemic, and just like we did for renters, our state is now leading the way to provide much-needed economic relief to vulnerable homeowners across the state,” Governor Hochul said. “We know that the economic pain of the pandemic has been felt disproportionately in rural communities, communities of color, and immigrant communities, and this program is a demonstration of our commitment to placing the needs of New Yorkers in need at the heart of our work. We thank the Biden Administration and our entire congressional delegation for securing this critical lifeline, and New York is ready to support homeowners in need every step of the way.”
Lieutenant Governor Brian Benjamin said, “Far too many New Yorkers suffered an undue financial burden through no fault of their own as a result of the COVID-19 pandemic and in response New York has taken swift and comprehensive action. The first-in-the-nation Homeowner Assistance Fund is a monumental step towards helping ensure disadvantaged New Yorkers receive the help they need while distributing the funds equitably among communities that have borne the brunt of the pandemic.”
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