Earlier this week, Governor Kathy Hochul announced the creation of the New York State Homeowner Assistance Fund. The Homeowner Assistance Fund is a federally funded program dedicated to assisting homeowners who are at risk of default, foreclosure or displacement as result of a financial hardship caused by the COVID-19 pandemic. Eligible homeowners are able to receive up to $50,000 in aid from the fund. Funds may be used for, but are not limited to, relief for homeowners relating to:
- Mortgage arrears
- Mortgage principal reductions
- Property tax arrears
- Insurance and utility arrears
- Homeowner association fees
- Maintenance fee arrears for Condos and Co-ops
The program application will go live on January 3rd, 2022 and remain open until February 4th. Applicants will be able to apply for assistance through an online web portal, with processing priority being given to homeowners who are currently in litigation, and then being processed on a first-come, first-serve basis. For more information, visit https://www.nyhomeownerfund.
I strongly encourage those eligible to apply once the application opens!
I will also be hosting a Town Hall on Monday, December 13th at 5:30 PM via Zoom on the proposed homeless shelter on 6661 Broadway in Riverdale. Join me to learn more about the proposed shelter in Riverdale and discuss any questions or concerns you may have. Use this form to RSVP and submit questions. I look forward to speaking with you all there!
State Senator Alessandra Biaggi