Hochul announces $500+ million to help struggling homeowners

Over half a billion dollars is dedicated to helping homeowners keep a roof over their heads as the COVID-19 pandemic drags on.

The $539 million for a federally-funded program is called the New York State Homeowners Assistance Fund.

Gov. Kathy Hochul made the announcement on Monday, Dec. 6. The program will assist homeowners who are at risk of default, foreclosure, or displacement because of COVID-19.

This financial assistance is also for people who are behind on their property taxes, water or sewage bills, and some monthly maintenance charges.

You’ll also have access to a call center and case managers who can help you find out about any mortgage relief you could be entitled to.

Hochul said no one should have to deal with this type of hardship brought by an unwanted virus.

"It’s not just one size fits all. There are many people who have been affected by this and this addresses each one of them. So we’re beginning with the vulnerable communities first."

This funding is part of the American Rescue Plan passed by Congress in March 2021.

Applications for this program open on January 3. Applications are on a first-come, first-serve basis.

MORE INFORMATION: New York State Homeowner Assistance Fund