Biden’s COVID-19 Relief Bill Includes $10 Billion for States to Help Homeowners Cope With the Pandemic

The latest coronavirus–relief package includes money to help people keep their homes during the pandemic.

By , Attorney

The most recent COVID-19 relief bill, officially called the American Rescue Plan Act of 2021, which President Joe Biden signed into law on March 11, 2021, includes approximately $10 billion for a Homeowner Assistance Fund. (See § 3206). This fund provides money to the states to establish foreclosure avoidance and other homeowner-relief programs.

Under these programs, homeowners suffering financial hardships due to the COVID-19 pandemic can get financial assistance to make mortgage payments, pay for utility and internet services, and cover other expenses, like property taxes and homeowners' insurance, so they can prevent a mortgage delinquency, default, or foreclosure.

Effective date: March 11, 2021