If you qualify, you can get free mortgage money of $309 a month. The Federal government is giving homeowners $3,708 as assistance. The money is part of the COVID-19 relief package. The program is called the Homeowner’s Assistance Fund. The money will help you pay your mortgage, as taxes, insurance, utilities and homeowner’s association dues.
The money given to the states by the US Treasury Department to distribute financial assistance through state housing agencies. The amount is based on number of each state’s late mortgage payments, foreclosures, and unemployment statistics. The money must be spent by September 30, 2025. In order to get the money, you should contact your state’s housing agency.
The qualifications are:
- Own your own home.
- You must have a mortgage.
- Your 2021 mortgage balance must be less than $548,250.
- The funds are available to homeowners who are struggling to pay their mortgage.
- Sixty percent of the mortgage aid must go to borrowers whose income is less than the national median income or the respective local median income, whichever is higher.