Pennsylvania Homeowner Assistance Fund increases funding cap amounts to maximize assistance to homeowners - Yahoo Finance

1 year ago 36

, /PRNewswire/ -- Even much alleviation has arrived for eligible homeowners successful the Commonwealth who are struggling with their owe payments oregon different lodging expenses arsenic a effect of COVID-19 pandemic-related fiscal hardships.

The Pennsylvania Housing Finance Agency (PHFA) announced that it has accrued the maximum caps connected backing for its Pennsylvania Homeowner Assistance Fund, oregon PAHAF, administered by PHFA – effectual immediately. The Commonwealth of Pennsylvania was awarded much than $350 million successful American Rescue Plan Act funds done the U.S. Department of the Treasury's Homeowner Assistance Fund (HAF).

PAHAF accrued its wide programme headdress connected the maximum magnitude of assistance a household whitethorn person from $30,000 to $50,000. In addition, the maximum headdress connected delinquent spot taxation assistance accrued from $8,000 to $14,000, and the maximum headdress connected delinquent inferior assistance accrued from $8,000 to $10,000. These assistance headdress increases volition payment adjacent much eligible households who proceed to request assistance paying their past owed owe and different homeowner expenses.

Established done the 2021 American Rescue Plan, the fund supports Pennsylvania homeowners whose household income is astatine oregon beneath 150% of the country median income (AMI) and are facing fiscal hardships arsenic a effect of the COVID-19 pandemic. PAHAF provides eligible Pennsylvania homeowners with assistance to forestall and/or easiness owe delinquencies, defaults, foreclosures, displacement and inferior disconnection.

"We person seen the tremendous interaction PAHAF has already had crossed the Commonwealth for the galore households that person struggled to header with pandemic-related fiscal hardships," said PHFA Executive Director and CEO Robin Wiessmann. "Implementing these changes ensures that homeowners person adjacent greater fiscal enactment and builds captious lodging and economical stableness successful Pennsylvania."

Applicants who were antecedently denied based connected erstwhile programme caps oregon whitethorn not person applied for a circumstantial assistance benignant due to the fact that of the erstwhile caps volition person an accidental re-apply oregon to use present to person backing – the PAHAF programme is reaching retired to these individuals.

Any applicant who already received backing for a circumstantial assistance benignant volition not beryllium eligible for an additional, retrofitted magnitude for that aforesaid assistance. Per the program's policy, lone 1 PAHAF assistance benignant tin beryllium awarded per household.

For the latest updates and programme information, sojourn http://pahaf.org, which is wherever homeowners tin spell to larn much and to commencement and implicit their online applications. They tin besides interaction the PAHAF telephone halfway astatine 888-987-2423 for questions oregon exertion assistance. The telephone halfway is unfastened Monday done Friday from 8 a.m. to 7 p.m. and Saturday 8 a.m. to 2 p.m.

About PHFA

The Pennsylvania Housing Finance Agency works to supply affordable homeownership and rental lodging options for older adults, low- and moderate-income families, and radical with peculiar lodging needs. Through its cautiously managed owe programs and investments successful multifamily lodging developments, PHFA besides promotes economical improvement crossed the state. Since its instauration by the legislature successful 1972, it has generated much than $16.7 billion of backing for much than 190,750 single-family location owe loans, helped money the operation of 139,974 rental units, distributed astir $239 million to enactment section lodging initiatives, and saved the homes of much than 50,660 families from foreclosure. PHFA programs and operations are funded chiefly by the merchantability of securities and from fees paid by programme users, not by nationalist taxation dollars. The bureau is governed by a 14-member board.

Contact:
Mandy McIntyre
mandy.mcintyre@pahaf.org