Homeowner Assistance Fund: Protecting the Most Vulnerable
The Homeowner Assistance Fund (HAF) is a critical resource for homeowners facing financial hardship, particularly in the wake of the COVID-19 pandemic. With nearly $10 billion in funding, HAF supports homeowners struggling with mortgage payments, insurance, utilities, and other housing-related costs. As of June 2024, the program has assisted over 549,000 homeowners, helping to prevent mortgage delinquencies, defaults, foreclosures, and utility shutoffs.
HAF has been especially effective in reaching economically vulnerable and traditionally underserved groups, including low-income homeowners, homeowners of color, and female homeowners. The program's success is reflected in the fact that foreclosure rates have remained below pre-pandemic levels, even as many households continue to recover from economic disruptions.
By providing direct, targeted assistance, HAF helps families remain in their homes, preserves community stability, and supports the broader housing market. The program demonstrates the power of coordinated national action to protect the most vulnerable and ensure that the dream of homeownership remains within reach for all.