New Yorkers Eligible For Federal Housing Assistance Funds: Hochul

New York City NY

07 December, 2021

12:49 PM

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NEW YORK CITY — New Yorkers who are stressing over the inability to pay their rent or keep up with mortgage payments because of COVID-19 pandemic-related struggles are eligible to apply for assistance as part of a program that will provide $539 million in funding as part of a federal program. Gov. Kathy Hochul announced Monday that New York is the first state to receive approval to participate in a U.S. Treasury Department program that is aimed at helping residents with low to moderate incomes avoid foreclosure, eviction or falling behind on their mortgages. The New York State Homeowner Assistance Fund makes money available to eligible New Yorkers, who may apply for financial help as long as they apply for the program by Jan. 3, the governor said. More information abut the assistance program and the application can be found here. "(It's) about make sure that no one who has suffered from this pandemic, who, whether they were a renter, we focus very intensely on the rental relief programs, which you said, had been held hostage for a while or not executed in a timely fashion, but also at the same time, we are very conscious of the fact that there are many, many homeowners who are suffering just as well," Hochul said Monday. "Those who are living on the margins to start, who lost their income because of no fault of their own because of the pandemic and got behind in their payments, or were not able to make their other payments to be able to live in their home." Hochul said that the state applied to be part of the federal program for in August, the governor said. State officials received word in November from the U.S. Treasury that New York would be the first state in the country to allow residents to apply for rent or mortgage assistance. State officials are now launching what Hochul calls an educational campaign to alert residents of the federal funds that are available to assist those in need of maintaining their living situation. Applications will be dealt with on a first come-first served basis, the governor said Monday. However, applicants who are currently in litigation will be given priority in the process to help those who may be facing foreclosure can avoid it by receiving funds from the assistance program, the governor said. "(We're) trying to identify all the areas where people have been stressed out," Hochul said. "It's been hard for them in the past and trying to work through them as we speak. So this is going to be a significant improvement and letting people know that we're continuing this on top of the rent relief program, we were able to get out there."