Pennsylvania Launches $350M Homeowner Assistance Fund
By: KDKA-TV News Staff
PITTSBURGH (KDKA) - A new $350 million homeowner assistance fund was launched to help Pennsylvanians struggling financially during the pandemic.
Funded by the American Rescue Plan Act, the Pennsylvania Homeowner Assistance Fund will be used to help homeowners with mortgage delinquencies, defaults, foreclosures, displacement and utility disconnection, the Wolf administration announced Thursday.
"As we continue to advance our COVID-19 recovery efforts, we must address the rising number of homeowners facing possible loss of their homes and foreclosure – this program will do just that," said Gov. Tom Wolf in a news release.
"The Homeowner Assistance Fund will prioritize individuals and families with the greatest need, as well as those who are socially disadvantaged. I am grateful that the U.S. Treasury has approved Pennsylvania's plan, and we can start the new year by distributing this critical funding to homeowners," said Wolf.
Homeowners whose household income is at or below 150% of the area median income are eligible if they've experienced a reduction in income or increase in living expenses due to the pandemic. Applications become available Feb. 1.
For more information on eligibility and the application process, click here.