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Inflation persists in causing headaches through families across the United States, with homeowners being harshly affected in the hopes of seeing brighter financial days ahead after the COVID-19 pandemic saw some wallets get lighter as mortgage prices persisted in piling up.
Is there any mortgage financial aid available?
Since many Americans received multiple stimulus checks and funds during the pandemic, many are wondering if Congress will also help homeowners furthermore. Still, through President Biden’s American Rescue Act, they provided close to 10 billion dollars to the states and the District of Columbia through the Homeowner Assistance Fund (HAF).
The states have implemented several systems and programs to distribute the funds, and generally, an eligible recipient must make less than 100% of the median income for the entire United States.
To qualify, the homeowner can have a $548,250 mortgage balance or less.
Some homeowners are covering more than $300 monthly if they refinance their mortgage, with the National Council of State Housing Agencies saying the programs will start balling out soon.
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