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Minnesota Housing eNews
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March 2, 2022
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News from HomeHelpMN
Thank you for signing up to receive updates about the HomeHelpMN COVID-19 Homeowner Assistance Fund.
Minnesota Housing’s plan for HomeHelpMN has been approved by the U.S. Department of the Treasury.
HomeHelpMN will assist homeowners who have experienced an economic hardship during the pandemic and have fallen behind on their mortgage or other home-related expenses.
We are moving forward with implementing the program and we expect to open for applications in the second quarter of this year.
Items to note:
More information about eligibility for the program and the application process will be published in future editions of this newsletter. Here are a few key items to know:
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Income guidelines: Homeowners will need to have incomes at or below 100% of the Area Median Income (AMI) for their county (or 100% of the national median income, whichever number is higher). This number is published by the US Department of Housing and Urban Development.
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Assistance amount: A homeowner may receive up to $35,000 in total assistance.
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Uses of funds: Approved uses of funds include past due mortgage expenses, overdue property taxes, manufactured home lot rent, HOA fees and insurance costs.
Steps you can take today:
There are steps you can take today that can help preserve your home and help you be prepared for the opening of the HomeHelpMN program. If you are concerned about your ability to make your mortgage payments, we recommend that you pursue these options now, regardless of your interest in the program:
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Contact your mortgage loan servicer to discuss options. Whether you are currently in forbearance, exiting forbearance, have missed one or more payments, or are worried about falling behind, this is the first step to resolving your concerns.
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Make an appointment with a HUD-certified housing counselor/homeownership advisor. Minnesota’s counseling network can help you navigate applications, communicate with your lender, and connect you with additional programs and resources that can provide assistance. Visit the Minnesota Homeownership Center to find an advisor. These services are free of charge and confidential. Many advisors offer virtual appointments.
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Apply for Energy Assistance. Homeowners may qualify for help with energy bills and future energy costs, including delivered fuels. Visit the Minnesota Department of Commerce or call 651.657.3710 to learn more about eligibility and apply.
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Stay alert to avoid fraud. Scam activity is on the rise from people pretending to offer foreclosure help or government grants. Never give out personal or financial information or passwords over the phone, and don’t pay a fee for foreclosure help. You can learn more at stophomescams.org.
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Subscribe. If this email was forwarded to you, or you reached this page via a link, join the mailing list to receive future updates.
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