Pennsylvania has launched a new $350 million program designed to help homeowners struggling to pay their mortgages because of the COVID-19 pandemic.
Gov. Tom Wolf announced the statewide launch of the Pennsylvania Homeowner Assistance Fund (PAHAF) on Thursday after approval from the U.S. Department of Treasury. The fund utilizes $350 million from the American Rescue Plan Act distributed to Pennsylvania through the treasury’s Homeowner Assistance Fund to help homeowners avoid mortgage delinquencies, defaults and foreclosures, as well as for help paying utilities.
“As we continue to advance our COVID-19 recovery efforts, we must address the rising number of homeowners facing possible loss of their homes and foreclosure – this program will do just that,” Wolf said. “The Homeowner Assistance Fund will prioritize individuals and families with the greatest need, as well as those who are socially disadvantaged. I am grateful that the U.S. Treasury has approved Pennsylvania’s plan, and we can start the new year by distributing this critical funding to homeowners.”Read More