In partnership with Kentucky Housing Corporation (KHC), Gov. Andy Beshear has launched the Team Kentucky Homeowner Assistance Fund, a program that can help homeowners impacted by the COVID-19 pandemic rebound and avoid foreclosure.
The program is funded through $85.4 million in federal American Rescue Plan Act funds that the commonwealth received to protect homeowners impacted by COVID, officials said.
Beginning immediately, qualifying homeowners can visit TeamKYHAF.ky.gov to apply for up to $35,000 in assistance to help with delinquent mortgage payments, property taxes, homeowner’s and/or flood insurance, homeowners association fees, and utility costs.
If approved, the funds will be paid as a grant directly to mortgage servicers, utility companies, county property tax administrators, insurance agencies or homeowners associations.
“We are thankful for the federal funds to help Kentucky homeowners affected by the pandemic,” Beshear said. “Kentuckians’ homes have been critical during this pandemic and now as cases continue to go down, these funds help ensure each family has their home to help them recover.”
Eligibility Requirements
To qualify for the Team Kentucky Homeowner Assistance Fund, applicants must:
- Be able to document a financial hardship after January 21, 2020, due to COVID
- Live at the residence as their principal residence and lived there at the time of the hardship
- Have an income at or below 150 percent of the area median income (a chart is available on the Homeownership Protection Center site)
Required Documentation
The items each applicant needs to submit are:
- Income verification (e.g., paystubs, W2s, 1099s, 2019 tax filings, attestation from an employer)
- Home valuation information (e.g., tax assessment, appraisal, asset statements).
- A detailed description of the program can be found at ProtectMyKYHome.org
The program is available until all funds are expended or September 30, 2025, whichever comes first.
By Ken Howlett, News Director
Contact Ken at ken@k105.com
