Yesterday Gov. John Bel Edwards announced the launch of the Louisiana Homeowner Assistance Fund, a federally funded relief program for homeowners financially impacted by COVID-19 who are behind on their mortgages and at risk of foreclosure.
The program is funded through the American Rescue Plan Act, which provides $10 billion in federal relief for vulnerable homeowners.
Louisiana is set to receive $146.7 million in funding to provide up to $25,000 per eligible homeowner.
The program is available statewide to homeowners experiencing financial hardship after Jan. 21, 2020, and earning less than 150 percent of the area median income or 100 percent of the national median income, whichever is greater, based on U.S. Department of Housing and Urban Development income data.
The Louisiana Office of Community Development is administering the program.
Gov. Edwards said the program provides an avenue for resources and assistance that has not been available before, and this is an important step to help ensure that low- and moderate-income homeowners and their families are able to stay in their homes.
