COVID-19 Homeowner Assistance Fund Act of 2020
COVID-19 Homeowner Assistance Fund Act of 2020
This bill establishes the Homeowner Assistance Fund at the Department of the Treasury to support state housing finance agencies. The funds may be used to prevent mortgage defaults, housing foreclosures, and the displacement of families and individuals experiencing financial hardship after January 21, 2020. Funds may specifically be used for assistance with mortgage payments, taxes, specified insurance, homeowner association fees, utility payments, and for the reimbursement of state or local funds previously used to provide such assistance as a response to the COVID-19 (i.e., coronavirus disease 2019) pandemic. The bill otherwise provides for income requirements and allocation of funds to eligible states, territories, and tribes.
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.