LOUISVILLE, Ky. (WDRB) -- Kentucky is launching a homeowner assistance fund, Gov. Andy Beshear announced Monday.
According to a news release, the Kentucky Housing Corporation is partnering with the state to provide assistance to homeowners impacted by the COVID-19 pandemic. It's a program funded by $85.4 million in federal funding from the American Rescue Plan act.
In partnership with Kentucky Housing Corporation (KHC), Gov. Andy Beshear today launched the Team Kentucky Homeowner Assistance Fund, a program that can help homeowners impacted by the pandemic rebound and avoid foreclosure. Read more: https://t.co/bRbBVLOgQp pic.twitter.com/47yaOUxsgl
— Governor Andy Beshear (@GovAndyBeshear) February 7, 2022
Qualified homeowners can visit the state's website to apply for up to $35,000 in assistance to pay for delinquent mortgage payments, property taxes, homeowners and flood insurance, homeowners association fees and utility costs. Those expenses would be paid as a grant directly to mortgage services, utility companies, county property tax administrators, insurance agencies and homeowner associations, according to a news release.
"Kentuckians' homes have been critical during this pandemic and now as cases continue to go down, these funds help ensure each family has their home to help them recover," Beshear said in a news release.
Applicants will be assigned to a housing counselor to assist homeowners. To qualify, applicants must be able to document a financial hardship after Jan. 21, 2020 due to COVID-19, live at the residence as their principal residence and lived there during the time of the hardship, and have an income at or below 150% of the area median income.
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