This little-known stimulus control program offers payments up to $30,000

We are less than a month away from the last wave of new tax credit checks for kids, but there are also plenty of other ways that people can now get paid as well. We’ve had new incentive payments this year (including standalone checks and recurring checks). These come from the federal level, for everyone, but also from some individual states. But there are also plenty of other stimulus-related benefits, beyond the all those checks. Including some that ordinary Americans may not even know about.

The Home Owners Help Fund offers such an advantage. In short, this $10 billion fund stems from the $1.9 trillion stimulus bill of earlier this year. It gives state governments the power to decide how to help homeowners with various expenses. Including those living in areas of “persistent poverty”. Or if those homeowners belong to a group that has experienced discrimination in the past.

Homeowners Help Fund

A row of houses with chimneys is depicted against a blue sky. Image source: karelnoppe/Adobe

The idea here is that there is a pot of money available to help homeowners struggling with things like mortgage payments, taxes, association rights, and other homeownership-related payments. Even paying for things like utility bills and insurance costs. “The US bailout plan provides nearly $10 billion for states, territories and tribes to provide relief to our nation’s most vulnerable homeowners,” a factsheet from the Ministry of Finance explains.

However, this is not something that comes to you directly from the federal government.

Individual states are submitting plans on how they plan to allocate funds for the program. Something that New York State was the first to get final approval this month. In a statement, Governor Kathy Hochul said her state is handing out nearly $539 million to homeowners “at greatest risk of foreclosure or displacement.”

Alys Cohen, a staff attorney at the National Consumer Law Center, said: The New York Times that this is important, especially with another wave of bankruptcies likely to occur next year. And with other programs this year, such as a mortgage amortization program, now coming to an end for struggling homeowners.

New incentive payments coming soon

stimulus check with IRS form
A stimulus check, pen and IRS form sit on a computer keyboard. Image source: Rick/Adobe

As an example of what this program can offer, New York will reportedly offer as much as $50,000. That would be anything from homeowners’ mortgage payments to utilities, property tax delinquencies, and more. Homeowners in Connecticut, meanwhile, could get up to $20,000 and in Illinois up to $30,000.

State housing programs distribute the money. More details on the fund, with its potential for new incentive payments, is available here.

On a related note, we should also say something about a different kind of stimulus advantage here. Remember the upcoming 2021 final child tax credit check we mentioned?

Recipients have until November 29 to make changes to that final check, which comes on December 15. Visit the Child Tax Credit Update Portal, at tax2021. There, families can switch from a paper check to a direct deposit, update their mailing address and stop payments. Through that portal, recipients can also change the account into which their payment is directly deposited. And reflect significant changes in their income that could potentially increase or decrease their monthly payments.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *