Federal relief funds totaling $66 million are available to homeowners who are delinquent in mortgage payments as a result of financial hardships associated with the COVID-19 pandemic, the Utah Department of Workforce Services announced Monday.
Applications are now open for eligible homeowners.
The Homeowners Assistance Fund will first be available for those with an income equal to or less than 100% of the area median income, or AMI, for the county in which the household resides or 100% of AMI for the United States, with priority going to those facing immediate foreclosure.
A U.S. Foreclosure Market Report released in August by ATTOM, a curator of nationwide property data, revealed a total of 34,501 U.S. properties with foreclosure filings.
Such filings, which include default notices, scheduled auctions or bank repossessions, are reportedly up 118% from one year ago
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