![Tyson Foods Plant [Photo: Food Manufacturing]](https://southarkansassun.com/wp-content/uploads/2023/08/iStock_1185520857__1_.5e441daa51cca-600x337.jpg)
![Silverado Senior Living Management Inc. [Photo: Los Angeles Times]](https://southarkansassun.com/wp-content/uploads/2023/10/download-6-4-600x337.jpg)
![China's Wuhan Institute of Virology [Photo: Nature]](https://southarkansassun.com/wp-content/uploads/2023/09/d41586-021-01529-3_19239608-600x337.jpg)
![Homeowner Assistance Fund [Program: SLC.gov]](https://southarkansassun.com/wp-content/uploads/2023/02/UHA_Logo_Web.jpg){kind=logo}
A maximum of $120,000 worth of benefits are issued under the Homeowner Assistance Fund (HAF). Read and find out if you’re eligible for these benefits!
![Homeowners [Photo: Discover]](https://s3.us-west-1.amazonaws.com/southarkansassun.com/2023/02/The-Essential-Guide-to-Budgeting-for-New-Homeowners_0-MARQUEE.jpg)
Homeowners [Photo: Discover]
According to an article on the Consumer Financial Protection Bureau, the steps on how to apply for HAF are based on the state where the homeowner lives. However, in general, the process for applying for HAF is as follows: In applying, a homeowner must verify that they meet HAF’s income requirements by providing documentation. It is suggested that a homeowner must thoroughly prepare the requirements before filling out and submitting an application. This is to avoid incomplete applications that may require follow-ups to submit the missing documents and ultimately cause delays.
Depending on the number of applications submitted, an application may take 30 to 90 days to be reviewed and receive a response. When this happens, expect an email, phone call, or any updates from the HAF administrator or the application portal. Once an application is approved, the HAF funds will most likely be forwarded to the loan servicers. Fortunately, if an application is rejected, the homeowner may still be able to file an appeal.
READ ALSO: Tax Preparation 101: Ways To Reduce Tax Preparation Costs
Who is eligible for HAF?
According to Brady, to be eligible for the HAF funds, a homeowner must meet the program’s requirements in order. A homeowner must have financially struggled due to the COVID-19 pandemic. This means that they must have experienced unemployment, a decrease in income, and an increase in healthcare or childcare costs.
Furthermore, a homeowner must have experienced those struggles after January 21, 2020. A homeowner must also need financial assistance for the costs related to their primary residence. Lastly, a homeowner’s household income must be at or below the 150% of the Area Median Income (AMI) for the area they live or 100% of the U.S. median income, whichever is greater.
READ ALSO: 3 Tax Credits Awaits Americans, Here Are The Details
