General World News

Servicers prepare for $10B homeowner assistance fund

Roughly seven months after it was established, the $10 billion federal Homeowner Assistance Fund is expected to begin approving state plans in the coming weeks. But many homeowners won’t receive checks until 2022.

A component of the American Rescue Plan Act, the assistance fund was approved by Congress in March and allocates $10 billion to prevent homeowners from falling behind on their mortgage, losing utility services, or being displaced.

But consumer protection attorneys and servicers still have major questions about how the money will be distributed and who will be left holding the details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com