Texas utility assistance program, mortgage assistance

Texas utility assistance program, mortgage assistance

The Texas Homeowner Assistance Program recently updated its service to better assist homeowners facing financial hardships related to the COVID-19 pandemic.

The State Assistance Program will assist eligible applicants who need financial assistance with utility bills and home mortgage payments in Texas, according to a press release.

“We recognize that many variables can affect someone’s ability to keep up with household expenses,” said Bobby Wilkinson, executive director of the Texas Department of Housing and Community Affairs, in a news release. “By adding help with utility bills and future mortgage payments , we can give them time to seek housing counseling or legal aid services, work with their loan servicer to modify their loan terms, or even find ways to increase their income. It allows [us] to better meet people’s unique needs.”

Households with no income or a debt-to-income ratio greater than 55% who are unable to continue making monthly mortgage payments can now qualify for a reverse mortgage, according to a news release, plus up to three months of future payments, with a household maximum of $65,000.

Additionally, eligibility for utility assistance will include an unpaid utility bill that is dated within the last 45 days, ownership of the residence at the address listed on the utility bill is required in arrears, and future funds do not exceed $10,000.

Texas homeowners may be eligible for assistance if they meet the following criteria, according to a news release.

  • Experienced qualified financial hardship after January 21, 2020, such as lost income or increased expenses due to the pandemic.
  • Being late on one or more of the following payments: mortgage loans, property taxes, property insurance, homeowner association fees, or utility bills.
  • Have a household income at or below 100% of the area median income or 100% of the U.S. median income, whichever is greater, according to the website.
  • Own and occupy a home in Texas as a primary residence.

Additional program requirements will apply for homeowner eligibility and assistance. For additional information and online application, visit Texas Homeowners Assistance website.

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