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Millions in federal aid available to Tennessee homeowners

Published: Jan. 19, 2022 at 5:51 AM CST|Updated: Jan. 19, 2022 at 6:33 AM CST
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MEMPHIS, Tenn. (WMC) - If you’re a Tennessee homeowner and you’re still feeling the financial strain from the pandemic, there are funds available to you.

The Tennessee Housing Development Agency says there are still millions of dollars available in aid to help people Mid-South.

The agency received over $168 million in federal funding. It says it can get people current on the mortgage, including insurance, property taxes and more. If you’re still not back on your feet enough to resume payments on your own, they can continue to make payments for up to six months.

The executive director of the agency says to qualify your household income must be just under $120,000 (119,850) and you must have proof that your financial hardship was pandemic related.

“Maybe somebody got sick or you lost your job or your hours got cut in half has to be COVID related. And with that, we can work with your loan servicer and get the payments flowing, get your current and even help you going forward for a period of months. If that’s necessary,” said THDA Executive Director Ralph M. Perry.

He says these funds will be able to assist many people and they can provide up to $40,000 of assistance per household.

Perry says the program will be available for at least two years, maybe three. And that it doesn’t hurt to apply to see if you are eligible.

If you plan on applying you’ll need verification of your current income and information on the nature of your hardship.

Online applications are available at thda.org.

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