Gov. Hochul Announces $539 Million For Homeowner Assistance Fund

Foreclosure notice and keys on a court table.

Photo: Getty Images

Governor Hochul has announced $ 539-million in federal funding for a new state-based Homeowner Assistance Fund.

She says this is the first such program in the United States and that it's intended to help those struggling amid the fallout of the COVID-19 pandemic. The federally funded program is dedicated towards those at risk of default, foreclosure, or displacement. Officials say they expect to receive more claims than what the fund can pay-out, so applications will be processed on a first-come, first-serve basis.

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