Governor Kathy Hochul has announced that New York State is the first state in the nation to receive U.S. Department of the Treasury’s approval to launch its Homeowner Assistance Fund, a program that will provide up to $539 million to help eligible homeowners avert mortgage delinquency, default, foreclosure, and displacement.
Applications will be accepted beginning Monday, Jan. 3, 2022.
“Many New Yorkers are still recovering from the pandemic, and just like we did for renters, our state is now leading the way to provide much-needed economic relief to vulnerable homeowners across the state,” Governor Hochul said.
“We know that the economic pain of the pandemic has been felt disproportionately in rural communities, communities of color, and immigrant communities, and this program is a demonstration of our commitment to placing the needs of New Yorkers in need at the heart of our work. We thank the Biden Administration and our entire congressional delegation for securing this critical lifeline, and New York is ready to support homeowners in need every step of the way.”