Federal funding available to help New York homeowners
NEW YORK (WCAX) - New York homeowners will be getting extra help to keep their homes.
Gov. Kathy Hochul says New York is the first state in the nation to receive the U.S. Department of the Treasury’s approval to launch its Homeowner Assistance Fund.
The program will provide up to $539 million to help eligible homeowners avoid mortgage delinquency, default, foreclosure and displacement resulting from financial hardships caused by the pandemic.
“To a family that is sitting in their home knowing that the world is swirling around them and they’re just so stressed out, and they’re thinking about what they could possibly do to stop this foreclosure from happening, the loss of their beloved home, this is the lifeline they’ve been waiting for,” said Hochul, D-New York.
There is an information call center and multilingual marketing campaign to help educate homeowners about this program and make sure they are ready to apply.
Applications will be accepted beginning Jan. 3.
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