Washington – RealEstateRama – The National Housing Conference (NHC) commends the U.S. Department of the Treasury for moving rapidly in issuing guidance for the Homeowner Assistance Fund (HAF). The fund is a critical piece of the American Rescue Plan and an important step forward in building back greater economic stability for the nation.
The pandemic has caused millions of U.S. homeowners to experience significant financial hardships. Once fully implemented, the HAF will prevent hundreds of thousands of foreclosures.
The guidance issued today reflects Treasury’s extensive consultation with states, housing practitioners and advocates, and the mortgage industry. This collaboration will help Treasury balance the need to distribute funds quickly with the importance of administering the program properly.
To get full funding, grant recipients must get Treasury approval of a detailed plan on how the grantees will spend the money. This is important because it allows funding to begin flowing as soon as possible, while providing grantees detailed guidance and formal approval from Treasury on the broader program.
About NHC: The National Housing Conference has been defending the American Home since 1931. Everyone in America should have equal opportunity to live in a quality, affordable home in a thriving community. NHC convenes and collaborates with our diverse membership and the broader housing and community development sectors to advance our policy, research, and communications initiatives to effect positive change at the federal, state, and local levels. Politically diverse and nonpartisan, NHC is a 501(c)3 nonprofit organization.