Governor Hochul Announces Homeowner Assistance Fund

Yesterday, Governor Kathy Hochul announced a $539 million homeowner assistance fund to help eligible New Yorkers at risk of foreclosure or displacement. This assistance funding is designed to help low and moderate-income homeowners impacted by the pandemic to be able to stay in their homes by aiding in mortgage payments, property taxes, water or sewer bills. It is also designed to help owners of cooperative or condo units behind on maintenance fees, and manufactured homeowners behind on chattel loans or retail installment contracts.

Governor Hochul stated: “Many New Yorkers are still recovering from the pandemic, and just like we did for renters, our state is now leading the way to provide much-needed economic relief to vulnerable homeowners across the state.” Applications for the program starting Monday, January 3rd, 2022.

Source: 13 WHAM