Nebraska expands $50 million homeowners assistance program

LINCOLN — Nebraska is growing the utmost quantity of support obtainable by means of a pandemic-era program created to assist distressed householders keep away from foreclosures. 

The state established the Nebraska House owner Help Fund in February to help low-income householders impacted by the pandemic, in line with a information launch from the Nebraska Funding Finance Authority, which is administering this system. It obtained $50 million in federal {dollars} and has already distributed greater than $11 million.

Initially, this system supplied help for past-due mortgage funds, past-due actual property taxes, past-due householders or flood insurance coverage and past-due householders affiliation dues. The state capped the full quantity of help per applicant at $30,000.

However after reviewing information from the final seven months, the state determined to extend that quantity to $40,000 in an effort to deal with the wants of house owners who’re significantly delinquent and going through foreclosures. The fund might also help with month-to-month funds for householders who’ve a deferred steadiness on their present mortgage.

Moreover, NIFA introduced it has broadened this system to incorporate help for past-due utilities and web. A assessment of applicant utility payments, submitted for secondary proof of residency, indicated that many householders making use of for this system are delinquent on a number of utility payments, in line with NIFA. Web service has additionally been discovered to be an integral a part of pandemic-related help, because the pandemic has led many residents to make money working from home.

The $50 million is totally different from the $120 million in federal rental support that Gov. Pete Ricketts turned down earlier this 12 months.

The cash within the NIFA program is on the market to Nebraska householders who’ve been financially impacted by the pandemic, and have a family earnings equal to or lower than 100% space median earnings for his or her county.

The $120 million was obtainable to the state by way of the second spherical of the federal Emergency Rental Help Program, a pandemic program created to assist renters and landlords impacted by COVID-19. This system supplied cash on to states and qualifying native governments, which then distributed the funds.

Ricketts turned down second-round funding for the state, partly, as a result of it hadn’t distributed all the greater than $150 million it obtained within the first spherical of funding.

Different extremely populated areas of Nebraska, together with Douglas and Lancaster Counties, did apply for the second spherical of emergency rental help, and might proceed providing federal support to renters by means of 2025. 

All funds by means of the householders program will likely be distributed till they run out, and they don’t have to be paid again. Nebraskans can apply on-line at NebraskaHAF.com, or name 1-844-565-7146.