Homeowners Can Now Apply For New York’s Assistance Fund

New York’s Gov. Kathy Hochul (D), announced Monday, that Property Owners can now apply for Financial Help from the $539 Million New York State Homeowner Assistance Fund. The Program will provide Aid to Eligible Homeowners at risk of Default, Foreclosure, or Displacement, because of the Pandemic.

“For many, buying a home is the greatest source of economic and social stability, and our Homeowner Assistance Fund—the first in the nation to be approved—is a critical tool to help ease the pain of the pandemic felt disproportionately in rural communities, communities of color and immigrant communities,” Hochul said in a Statement.

New York State Homes and Community Renewal (HCR) designed the Program, which is meant for, Low to moderate, Income Homeowners, who are Behind on their Mortgage Payments, Property Taxes, and Water and Sewer Bills. Co-Op and Condo Owners who are Behind on Maintenance Fees can also Apply for the Program, among others.

The Financial Assistance will help Homeowners catch up on Missed Housing Payments, and Reduce their Mortgage Debt. It will help Unemployed Owners with up to Six months of future Housing Payments.

Homeowners can Apply and can call 844-776-9423 from 7 a.m. to 8 p.m. Monday through Saturday with Questions. Applications will be processed on a First-come, First-served basis, and the State expects the Amount of Applications to exceed the Amount of Available Relief.

“Whether you live in a manufactured [mobile] home, a condominium, co-op or a single-family home, we encourage you to apply as soon as possible to receive assistance,” Sustainable Neighborhoods CEO, Christie Peale said. “It is urgent that we help as many families as possible keep their homes despite the damaging impacts of the pandemic.”

HCR was previously in charge of the State’s $100 million Covid-19 Rent-Relief Program, which was Heavily criticized for Not Distributing enough Money quickly enough.

The Office of Temporary and Disability Assistance was put in Charge of the State’s subsequent $2.4 Billion Rent-Relief program, although that has largely stopped Accepting Applications, in most parts of the State, due to its running Out-of-Funds.

Hochul has Requested almost $1 Billion in additional Rent-Relief Money, from the Federal Government.










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