In the first part of 2021, President Joe Biden signed the American Rescue Plan Act into law. This law created a Homeowner Assistance Fund, a federal program, to provide $10 billion to the states to help households that are behind on their mortgages and other housing-related expenses due to COVID-19.
Eligible homeowners in Nevada affected by COVID-19 can apply for some of the $120 million the state received. Specifically, homeowners can apply to receive financial assistance to save their homes from foreclosure through the state's:
The Nevada Affordable Housing Assistance Corporation (NAHAC) administers the state's UMA and MRAP programs.
The UMA program provides temporary financial assistance to eligible Nevada homeowners who want to keep their homes but have suffered a loss of income due to unemployment or underemployment.
To qualify, you must:
The program provides up to $3,000 per month for up to 12 months ($54,000 total) to pay your mortgage plus non-escrowed taxes and HOA fees, if applicable.
MRAP provides funds to help income-qualified homeowners reinstate a first mortgage loan, including paying for taxes and HOA fees, if applicable. To be eligible, you must have experienced an eligible financial hardship that occurred on or after January 21, 2020, due to COVID-19. Qualifying homeowners can get up to $35,000 per household.
Generally, to qualify for financial assistance through Nevada's Homeowner Assistance Fund programs:
Go here to take a pre-screening quiz to see if you're eligible.
To apply for either UMA or MRAP, you must:
You'll then get updates about your application on an account dashboard.
The funds allocated to Nevada must be used by September 30, 2025. But the available programs might end sooner if funding runs out.
To learn more, visit the Nevada Homeowner Assistance Fund's FAQ website.
Before applying for these programs, you must contact your loan servicer to find out about any available loss mitigation programs, such as a forbearance, loan modification, or deferment.
If you need help with this process, Home Means Nevada, Inc., a state-affiliated nonprofit organization, offers:
And, if you're unable to get mortgage relief through the Homeowner Assistance Fund or the UMA or MRAP, Nevada also offers mediation to most homeowners in foreclosure. Home Means Nevada handles some aspects of the state's foreclosure mediation program.
If you have questions about the foreclosure process in Nevada, want to learn about potential defenses to a foreclosure, or need someone to represent your interests during foreclosure mediation, consider talking to a foreclosure lawyer.
Effective date: December 21, 2021