It is common knowledge that new stimulus checks are not going to come towards you. The political dynamic is such that the votes in Congress just aren’t there for new checks right now. But having said that, stimulus checks also aren’t the only kind of aid available to Americans, either. 

There’s related financial assistance that can also help millions of Americans, for example, pay their mortgage.

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Along these lines, there’s at least one program that many people might not even be aware of. It’s the Homeowners Assistance Fund. 

And the idea here is for a pot of money/stimulus checks to be available to help homeowners. Particularly those struggling with things like mortgage payments. But recipients can also use the money for taxes, association dues, and other payments associated with homeownership. Even the payment of things like utility bills and insurance costs.

Stimulus Checks Updates: Mortgage Aid Is Available

“The American Rescue Plan provides nearly $10 billion for states, territories, and Tribes to provide stimulus checks for our country’s most vulnerable homeowners,” a fact sheet from the Treasury Department explains.

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“Applicable funding uses include delinquent mortgage payments, allowing Americans across the country to take a step in the right direction toward household stabilization. These necessary actions will minimize foreclosures in the coming months, alleviate emergency shelter capacity, and mitigate potential COVID-19 infections.”

You should know some important facts about this available fund.

The Treasury Department has assured that they will divvy up at least $50 million to every state in the US. That’s money that will need to be all spent by September 30, 2025. The money will be distributed through state housing programs. The homeowner will also need to have suffered hardship of some kind. Such as, for example, losing a job.

It should also be noted that this comes against the backdrop of a rise in homebuying activities. Mortgage applications for new homes, for example, were up 2% last week compared to the week prior. Also, the average interest rate on a 30-year fixed-rate mortgage (with a balance of $647,200 or less) rose to its highest point since March 2020. To 3.52%, up from 3.33%.

Mortgage rates increased significantly across all loan types last week as the Federal Reserve’s signaling of tighter policy ahead pushed U.S. Treasury yields higher,” economist Joel Kan told CNBC. “The housing market started 2022 on a strong note. Both conventional and government purchase applications showed increases, with FHA purchase applications increasing almost 9%, and VA applications increasing more than 5%.”


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