Nevada Affordable Housing Assistance Corporation Announces Additional $120 Million Funding for Homeowners in Need

Vegas Business Digest -

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The Nevada Affordable Housing Assistance Corporation (NAHAC), who offers assistance for homeowners battling financial hardship, announced approximately $120 million additional funding to support the Nevada Homeowner Assistance Fund (HAF). The Nevada HAF programs rolled out in November 2021 with two pilot programs to help qualified homeowners with mortgage reinstatement and make mortgage payments while they are receiving unemployment.

Due to ongoing effects of the pandemic and the current economic climate, many Nevada homeowners continue to face financial hardship, which has caused them to fall behind on mortgage payments and other bills associated with homeownership such as property taxes, mortgage insurance and homeowner association dues, which puts them at risk of losing their homes. To learn more, please visit NAHAC’s website: NAHAC.org.

The Nevada Homeowner Assistance Fund is a federally funded program that provides assistance to Nevada homeowners struggling to pay their mortgages due to financial hardships due to the coronavirus COVID-19 outbreak. It is underwritten by the U.S. Department of the Treasury through the State of Nevada Department of Business and Industry, Housing Division under the American Rescue Plan.

How to Qualify and Apply

Those who qualify for the program may include homeowners in the following situations:

  • Loss of a job due to the COVID-19 pandemic and are behind on mortgage payments.
  • Returned to work and are still behind on mortgage payments or are underemployed.
  • Collecting unemployment (or have collected unemployment in the past 90 days) and behind on mortgage payments.

Homeowners who experienced or are experiencing situations described above, who were approved under NAHAC’s previous programs, such as the Hardest Hit Fund, may also apply for assistance under the Homeowner Assistance Fund.

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