State To Set Up $ 3 Million Homeowner Assistance Program

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Mortgage payment written on a calendar with a green pushpin to remind you and an important appointment.New Hampshire is preparing to launch a new $ 3 million relief program to help homeowners with mortgage payments and other costs associated with the Covid-19 pandemic.

In a message presented to the State Executive Council on Wednesday, the state’s pandemic relief office asked for $ 3 million from the US Federal Rescue Plan Act to create the New Hampshire Homeowner Assistance Program.

The program will allow homeowners to recover any costs associated with the pandemic, including mortgage delays, defaults, foreclosures, lost utilities, and relocation.

The fund, which will be managed by the New Hampshire Housing Finance Authority, will enable eligible individuals to cover expenses incurred after January 21, 2020. It will run until September 2025.

“The New Hampshire Homeowner Assistance Program will mitigate the financial hardships that New Hampshire residents face from the coronavirus pandemic by providing funds to eligible organizations,” wrote Taylor Caswell, director of the Governor’s Office of Emergency Relief and Recovery, in a request to the council.

If approved on Wednesday, the program will join the New Hampshire Rental Assistance Program, which allows people who find it difficult to pay their rent to apply for assistance within 12 months in the past or 15 months in the future.

This program struggled to get funds to help those in need; According to the state, as of June 18, the state had approved only 3,169 out of 6,460 aid applications.

The Homeowners Program is one of the first in the year created and approved without an executive order. Gov. Chris Sununu lifted the Covid-19 state of emergency on June 11, which meant that large spending of federal funds must now go through the State Finance Committee and Executive Council.

The Legislative Fiscal Committee approved funding earlier this month.



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