Federal funded relief program disburse funds to assist homeowners who were financially affected by COVID-19 to pay mortgages

The State Office of Community Development has disbursed over 146 million dollars to nearly eight thousand Louisiana homeowners for pandemic mortgage assistance through the Louisiana Homeowner Assistance Fund. Ginger Moses Chief Operating Officer with Office of Community Development…

“The state of Louisiana was granted 146.7 million dollars so each of those applicants could receive a reward up to 50 thousand dollars which was the cap.”

The Bayou State received federal funding through the 10-billion American Rescue Plan Act. Service providers had to participate in the program for an applicant to be eligible.

Moses says payments went directly to mortgage companies. She says this will impact thousands of Louisianans who struggled to meet mortgage payments during the pandemic.

“These folks would not have been able to maintain their mortgage. They would have ended up in foreclosure and lost their homes. That’s almost eight thousand homeowners in our state that were at risk of foreclosure. There was proof in it with these dollars.”

Moses says the program offered a lifeline to Louisiana residents to help meet their mortgage payments and not lose their homes.

“It was critical to just helping the citizens of this state make it through some of those most difficult times during the pandemic. And we all are very thankful for the funding.”