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Tennessee homeowners impacted by COVID pandemic can get up to $40,000

The money can help with mortgage payments and other house expenses during the pandemic.

MEMPHIS, Tenn — Need help getting back on track amid the pandemic? $168 million is available for Tennessee homeowners impacted by COVID-19. 

A new program called the Tennessee Homeowners Assistance Fund, also known as the TNHAF program, assists homeowners who have been financially impacted by the virus through job losses or some other hardship.  

Households can receive up to $40,000 for help paying mortgages and other household-related expenses.

"A lot of folks who were good regular mortgage players got jammed up for no fault of their own when COVID hit," said Ralph Perrey, Executive Director of the Tennessee Housing Development Agency. "This gives them the opportunity to catch up at no financial penalty to them."

The program helps cover things such as mortgages, property taxes, and HOA fees.

"When you write that check for your mortgage every month, you also often pay your property taxes and your escrow insurance. Anything connected to your mortgage payment will be connected, can be included," said Perrey.

To qualify, household income must be less than $119,850.

 

"Even if you are behind 8 to 10 to 15 months, we can bring you current and you can resume the payments on your own, as if that interruption never happened. And if you are not ready to resume those payments, we can make your payments for up to six months on your behalf," said Perry.

You can go to THDA.org for more information.

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