There is still time to receive financial help from the Michigan Homeowners Assistance fund.
Officials said the statewide fund supports Michigan homeowners experiencing financial hardships related to the COVID-19 pandemic.
To be eligible for up to $25,000 in relief, homeowners must have experienced hardship after January 2020 and have an income which does not exceed 150% of the area median income.
Mary Townley is the director of homeownership for the Michigan State Housing Development Authority. She said most people who benefit from the fund are socially disadvantaged and below the median income limit.
“They tried everything they could to remain stable during the shutdown with COVID. Many of them are back to work, but they're facing these enormous delinquencies,” she said.
Townley said preventing foreclosure is a win-win for families, neighborhoods and communities.
"It's proven fact that if a home owner loses a home to foreclosure, that home sits in the neighborhood (and) becomes damaged or not resold. It starts to bring values down to other neighbors in that neighborhood," Townley said.
Officials said the fund launched about a year ago, and has provided roughly $114 million in relief to more than 15,000 homeowners. $56 million are still available to help prevent foreclosures in Michigan.
To apply, visit the Michigan Homeowners Assistance Fund website.
