Arizona launches homeowners assistance program with nearly $200M in funding
PHOENIX – The state of Arizona announced a new program Monday to assist homeowners experiencing financial hardships with nearly $200 million in federal funds.
“This is direct and immediate aid,” Arizona Department of Housing Director Tom Simplot said in a press release. “If you’re behind on your mortgage payments, we can send funds directly to your home loan servicer to bring you current.”
The Homeowner Assistance Fund uses $197 million from the American Rescue Plan and is designed to prevent foreclosures and cover a variety of bills homeowners may need help paying.
“Besides your mortgage, HAF will also pay past due utilities and internet services, property taxes, insurance, HOA fees and more,” Simplot said.
“The funds are available and ready to be distributed; all homeowners need do is apply and show the need, and we’ll make payments immediately.”
To be eligible, homeowners can’t earn more than 150% of the median income in their county, must have experienced a qualifying financial hardship since Jan. 21, 2020, and must be applying for aid on their primary residence.
Financial hardships can include job loss, reduction in income or increased expenses resulting from a health care issue or care for a family member related to the COVID-19 pandemic.
“We want to make sure families stay in their homes and continue to have a roof over their heads,” Gov. Doug Ducey said in the release.
“As Arizona emerges out of the pandemic and our economy grows, many hardworking individuals who fell on hard times are still trying to find their financial footing.”
To find more information or to apply, visit the program page on the Arizona Department of Housing website.