HAF Program Guide.pdf

Provide financial assistance to eligible homeowners to prevent mortgage delinquencies, defaults, foreclosures, and displacements due to the coronavirus pandemic.
Eligibility Criteria:
+ Owned and occupied primary residence on or before January 21, 2020.
+ Experienced a Qualified Financial Hardship after January 21, 2020.
+ Met income requirements (AMI) at the time of hardship or application.
+ Completed and signed an Affidavit affirming a pandemic-related hardship.
Qualified Financial Hardship: Material reduction in income or increase in living expenses associated with the coronavirus pandemic.
Target Population: Homeowners with incomes equal to or less than 150% of the Area Median Income (AMI).
Funding Prioritization: At least 60% to eligible homeowners with incomes equal to or less than 100% of the AMI.
Eligible Property Types: Single-family properties, 2-4 unit properties, and manufactured homes permanently affixed to real property.
Program Exclusions: Non-Conforming GSE loans, homes titled in trusts or business entities, non-legal U.S. residents, and certain property types (e.g., 2nd homes, investment properties).
Maximum Assistance: Up to $50,000 per household.
Assistance Type: Non-recourse grant.
Payout Structure: Assistance will be disbursed directly to mortgage lenders/servicers and payees, prioritizing first mortgage reinstatement.
Program Duration: Ends September 30, 2026, or until funds are fully reserved, whichever comes first.