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that's my president! Joe Biden gives 10 billion in aid to homeowners struggling to pay bills because of Trump's covid19 hoax!
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[link to finance.yahoo.com (secure)]
Though there are signs the coronavirus cloud over the U.S. economy is lifting, millions are still facing serious financial strains from the pandemic, including the risk that they'll lose the roofs over their heads.
To help, President Joe Biden's COVID rescue package set aside billions of dollars for states to distribute to homeowners struggling to make their mortgage payments and keep up with other housing costs.
The $1.9 trillion pandemic relief bill Biden signed in March— the measure featuring the recent stimulus checks of up to $1,400 — also provided nearly $10 billion of direct financial assistance to help homeowners pay not only their mortgages but also taxes, utilities, insurance and homeowners association dues.
The housing aid — formally called the Homeowners Assistance Fund — is being doled out to states based on a formula that takes into account numbers of unemployed residents, late mortgage payments and foreclosures, according to the National Council of State Housing Agencies.
You can receive money if you own your home and have a loan balance that doesn't exceed a threshold set by Fannie Mae and Freddie Mac, the government-sponsored mortgage giants that buy or guarantee most U.S. home loans. The 2021 loan limit in most parts of the U.S. is $548,250.
The assistance will be distributed to cash-strapped borrowers through state housing agencies. At least 60% of the state grants must go to homeowners with incomes that don't exceed either the local median income or the national median income, whichever is higher.
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