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HomeHelpMN eNews
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October 26, 2021
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 HomeHelpMN Program Development Update
The HomeHelpMN COVID-19 Homeowner Assistance Fund is currently under development and is not yet open to the public.
- The HomeHelpMN plan was submitted to the U.S. Department of the Treasury in August and is awaiting approval.
- The initial plan called for funds to assist homeowners with:
- Mortgage Reinstatement (catching homeowners up on their mortgage);
- Loan Modification (principal and/or mortgage payment reductions) subject to loan product/servicing guidelines; and
- Other past-due property charges.
- Minnesota Housing is not able to receive homeowner requests for assistance at this stage.
What Can Lenders and Servicers Do to Help Homeowners Today?
The program is not available yet and the amount of funding available will likely not meet the anticipated needs of all eligible Minnesota homeowners. It is important that lenders, servicers, and homeowners work together to explore the full range of options available to preserve homeownership.
Lenders and servicers who are working with Minnesota homeowners should take these steps:
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Engage with homeowners to explore an affordable loss mitigation work out solution. Provide additional resources such as those available through the Consumer Financial Protection Bureau.
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Connect homeowners with a local HUD-approved housing counselor. HUD-approved housing counselors provide free, unbiased, confidential services to help homeowners make choices to address their housing needs. Homeowners can connect with foreclosure prevention services via the Minnesota Homeownership Center.
- Homeowners who are struggling with energy bills may qualify for assistance. Refer homeowners to the Minnesota Department of Commerce or call 651.657.3710 to apply for Energy Assistance.
At this time, do not refer homeowners to Minnesota Housing for HomeHelpMN assistance because the program is not yet available and we are not able to provide direct assistance to families.
Questions?
Have questions about HomeHelpMN? Write to us at homehelpmn@state.mn.us.
HomeHelpMN eNews Updates
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