The American Rescue Plan Act of 2021, passed by Congress in March, includes nearly $10 billion to fund a Homeowner Assistance Fund to help homeowners struggling to pay their bills due to the COVID-19 pandemic. The Homeowner Assistance Fund was established to prevent homeowner mortgage delinquencies, defaults, foreclosures, loss of utilities or home energy services, and displacements of homeowners experiencing financial hardship after January 21, 2020.
As part of the federal funding through the U.S. Department of Treasury, SC Housing will receive approximately $145 million to help homeowners who are struggling to keep their homes through its upcoming SC Mortgage Rescue Program.
To receive this funding, SC Housing is required to draft a proposal, for approval by the U.S. Treasury, which includes feedback from the general public and other community stakeholders. For full details about the program, including what expenses qualify for U.S. Treasury funding, see the Homeowner Assistance Fund Guidance here.
Thank you to everyone who submitted comments and suggestions during the public input period. That period is now closed. We are currently processing all public input and finalizing the draft of our plan. More information about the program will be available soon.
If you would like to be notified as soon as the program opens for applications, please fill out the form below and click “Submit!”