The $1.9 trillion stimulus package included more than $10 billion to assist homeowners who fell behind on their mortgage payments as a result of COVID-19.
Since then, 25 states – including adjacent Arkansas and populous states like California and New York – have established systems to distribute their part of the monies to low-income individuals.
However, Texas lagged behind. The Lone Star State has implemented a handful of pilot projects that have benefited approximately 600 families with a total of approximately $5 million. However, it was only last week that the Texas Department of Housing and Community Affairs began accepting applications for the majority of the funding – approximately $842 million.
Nonetheless, it’s better late than never.
According to the TDHCA, between 55,000 and 70,000 homes in the state are currently in risk of foreclosure because to the COVID-19 pandemic.
Residents of Arkansas can check eligibility requirements and apply at https://arkansashaf.com, while residents of Texas can visit https://www.texashomeownerassistance.com.
There is a lot of news about COVID-19’s decline. However, it’s critical to realise that the economic impact continues to touch a large number of your fellow Americans, most possibly including some of your friends and neighbours.