Eligible Texas homeowners are able to apply for aid from a state-run fund that will provide future mortgage payments for those in financial distress.
The program run by the Texas Department of Housing and Community Affairs will also assist property owners with their past due and future utility payments. Only primary residents of the state are eligible.
"We recognize many variables can affect one's ability to keep up with home-related expenses," said Bobby Wilkinson, TDHCA executive director, in a press release. "By adding utility bill assistance and future mortgage payments, we can give them time to seek out housing counseling or legal aid services, work with their loan servicer to modify their loan terms, or even find ways to bolster their income."
Each household can receive up to $65,000 in total assistance from the Texas Homeowner Assistance Program, provided in the form of a grant, as long as they experienced a qualified financial hardship due to the pandemic after Jan. 21, 2020 such as lost income or increased expenses.
The homeowner must be behind on one or more payments for their mortgage; property taxes; property insurance; homeowner/condo association fees; and/or utility bills.
Household earnings must be at 100% or less of the area median income or the 100% of the U.S median income, whichever one is greater.
In addition, households with no income or a debt-to-income ratio greater than 55% that are unable to continue making their monthly mortgage payments qualify for reinstatement of their loans plus up to three months of future payments, up to the $65,000 maximum.
Texas had the
The Texas program is part of the federal
The Federal Housing Administration in May
Since its
