Town of Hillsborough issued the following announcement on Jan. 31.
The N.C. Homeowner Assistance Fund is now accepting applications from homeowners whose finances were affected by the COVID-19 pandemic.
Established through the federal 2021 American Rescue Plan and administered through the N.C. Housing Finance Agency, the fund is meant to prevent mortgage delinquencies or defaults, foreclosures and displacements. The fund offers assistance of up to $40,000 for qualified homeowners as long as funding is available.
Applicants must be seeking assistance for a primary residence such as a house, townhouse, condominium or mobile home and meet income and other requirements. For qualified homeowners, the fund offers:
- Housing payment assistance for a primary residence.
- Assistance for first or second mortgage reinstatement to catch up on late payments or other housing-related costs due to a period of forbearance, delinquency or default.
- Assistance covering other housing-related costs such as homeowner’s insurance, flood insurance, mortgage insurance, homeowner’s association fees or delinquent property taxes to prevent foreclosure.
Original source can be found here.
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