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. The public is encouraged to submit comments and suggestions about needs within your community and the types of resources and support that will help keep families in their homes. We are also seeking feedback about the application process and the best methods to get these funds to eligible homeowners in need. The deadline for public comment is June 20, 2021.
We would like feedback from you on what is needed to help impacted homeowners stay in their homes. For full details about the program, including what expenses qualify for U.S. Treasury funding, see the Homeowner Assistance Fund Guidance here.
Comments can be submitted by:
For more information about this program, see the Homeowner Assistance Fund Guidance here.
If you would like to be notified as soon as the program opens for applications, please fill out the form below and click Submit.