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Louisiana Launches Mortgage Relief Program for Homeowners Impacted by COVID-19

Published January 10, 2022

On January 10, 2022, Louisiana Governor John Bel Edwards announced the introduction of the Louisiana Homeowner Assistance Fund, a federally financed relief program for homeowners who have been financially impacted by COVID-19 and are facing foreclosure. The American Rescue Plan Act, which offers $10 billion in federal help to vulnerable homeowners, funds the program. Louisiana is slated to get $146.7 million in funds, with each qualified homeowner receiving up to $25,000 in assistance.

Based on U.S. Department of Housing and Urban Development income data, the program is accessible statewide to homeowners experiencing financial difficulty after Jan. 21, 2020, and earning less than 150 percent of the regional median income or 100 percent of the national median income, whichever is larger. The program is run by the Louisiana Office of Community Development.

Louisiana Governor Edwards said.“We know that many Louisiana homeowners are struggling financially from the pandemic and, in many cases, have fallen behind on their mortgages and are facing foreclosure… This program provides an avenue for resources and assistance that has not been available before, and this is an important step to help ensure that low- and moderate-income homeowners and their families are able to stay in their homes. I encourage everyone who may be eligible to apply.”

Eligible homeowners include those who meet the following criteria:

• Own and occupy a home in Louisiana as their primary residence
• Meet income qualifications
• Experienced a financial hardship associated with the COVID-19 pandemic

The state will work closely with lenders and mortgage providers to ensure the availability of funds is communicated to homeowners who would benefit from the program.

To learn more about the program or to apply, visit haf.lacovidhousing.com or call 1-833-88-LAHAF(1-833-88-52423).