$50M in Mortgage Relief Available to Wyoming Homeowners

Eligible homeowners in Wyoming can get up to $17,000 to pay mortgage expenses and other housing costs.

By , Attorney

In early 2021, President Joe Biden signed the American Rescue Plan Act into law. This law created a Homeowner Assistance Fund, a federal program, to give around $10 billion to the states to help households that are behind on their mortgages and other housing expenses due to COVID-19.

Eligible Wyoming homeowners who've experienced a financial hardship because of the pandemic can get a piece of the approximately $50 million allocated to the state—up to $17,000 per household—by applying to the Wyoming Homeowner Assistance Fund program. This program uses federal money to help homeowners make mortgage payments and pay other home-related costs, like utilities, property taxes, homeowners' insurance, and homeowners' association dues.

What Costs Does Wyoming's Homeowner Assistance Fund Program Cover?

You can use money from the Wyoming Homeowner Assistance Fund program to pay:

  • for a mortgage reinstatement or other delinquent housing-related costs related to a period of forbearance, delinquency, or default
  • overdue property taxes, homeowners' insurance, and homeowners' association dues, and
  • past-due utility payments, including electricity, energy costs (fuel, oil, and propane), water, and sewer. But internet costs aren't eligible.

Eligibility Requirements for the Wyoming Homeowner Assistance Fund Program

To qualify for relief from this program, you must have experienced a COVID-related financial hardship after January 21, 2020, that caused the household to become past due. You also have to meet additional guidelines like:

  • The property must be owner-occupied and located in Wyoming.
  • The property must be your primary residence. Second homes, investment properties, and vacant properties don't qualify.
  • The property must be a single-family home (attached or detached), condo, one- to four-unit dwelling (if the homeowner lives in one of the units as a primary residence), or manufactured home permanently affixed to land and taxed as real estate.
  • Your household income must be at or below 150% of the area median income.
  • You must be delinquent by at least one payment, including due to a forbearance.
  • If you're applying for mortgage help, the loan must be a first lien on the property, and you must not intend to sell the property within six months of getting assistance.

How the Wyoming Homeowner Assistance Fund Program Works

Assistance is in the form of a grant that you don't have to repay. The grant covers only arrears, not prospective or ongoing payments.

Payments from the program go directly to the loan servicer or other approved entity, not to homeowners.

How to Apply to the Wyoming Homeowner Assistance Fund Program

The Wyoming Homeowner Assistance Fund program opens to applications on May 2, 2022. Once the program opens, you can submit your application online. To get updates about when the program will start, subscribe to the program's email list.

In the meantime, you can take steps to get ready to apply once the program begins. Start organizing the documents you'll probably need, such as your most recent tax return or pay stubs, photo ID, mortgage statement or property tax statement, and utility statements.

Also, find out what type of mortgage you have, like an FHA-insured, VA-guaranteed, Fannie Mae, or Freddie Mac mortgage. Depending on what entity owns or backs your loan, you might qualify for a special loss mitigation option. Call your loan servicer to learn about what alternatives are available.

Avoid Homeowner Assistance Fund Scams

Be wary if you get an unsolicited offer by phone, mail, email, or text message offering mortgage relief or foreclosure rescue services. Scammers are increasingly targeting homeowners who've been affected by COVID-19. Homeowner Assistance Fund programs are free. If anyone asks you to pay a fee to get housing counseling or to receive foreclosure prevention services from this program, it's a scam.

Learn More About the Wyoming Homeowner Assistance Fund Program

If you need help with the application process or have questions about the Wyoming Homeowner Assistance Fund program, call 307-777-7564 or 800-457-3659 and read the program's FAQs.

You may also contact a HUD-approved housing counselor who will assist you at no cost. To find a counselor near you, go to HUD's website or call 800-569-4287. You may also contact the Wyoming Housing Network or myfrontdoor.org.

Effective date: May 2, 2022