Financial assistance program helps homeowners affected by pandemic

MIHAF Homeowners assistance program
MIHAF Homeowners assistance program(Source: Pixabay)
Published: Mar. 25, 2022 at 6:29 PM EDT
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MARQUETTE, Mich. (WLUC) - If you are a homeowner that has been affected by the pandemic, there may be financial aid available for you.

It’s no secret the pandemic has impacted us in many ways, including our money.

However, the Michigan State Housing Development Authority (MSHDA) is offering some relief for homeowners.

“The Michigan Homeowner Assistance Fund is a foreclosure prevention program that was recently created in Michigan,” MSHDA Director of Homeownership, Mary Townley, said. “It’s part of the American Rescue Plan.”

The state was awarded $242.8 million to fund families who have fallen behind on homeownership-related expenses.

Up to $25,000 will be given to each qualified household.

“The homeowner applies online,” Townley said. “We review their application. We determine if they’re eligible based on three eligibility criteria components.”

That criteria includes:

- The property must be owner-occupied.

- The homeowner’s income cannot exceed 150% of the area’s median income.

- The homeowner must have a pandemic-related hardship. (Ex. A decline in income or an increase in living expenses.)

The average amount awarded is $9,000 per household. The amount per household is based on specific needs.

“Right now, the majority of our assistance is mortgage help,” Townley said. “The second is property taxes but we are doing our fair share of utility help, too.”

This financial aid is different from the state’s previous foreclosure prevention program. The new assistance is a grant and it expands to a broader audience.

“This program will help with land contracts and, also, mobile homes and mobile homes and parks,” Townley said.

You have plenty of time to request help. The deadline to apply for this program is September 30, 2026.

However, this grant money is awarded on a first-come-first-serve basis and MSHDA anticipates the money will be given out by 2025 or sooner.

To apply visit this website or call Customer Service 844-756-4423.

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