Deadline approaching for housing assistance program

     Everybody wants to be home for the holidays, but the economic affects of the COVID-19 pandemic has compromised housing security for many Iowans.

     To help homeowners and renters impacted by the pandemic, Governor Kim Reynolds has allocated additional CARES Act funding to the Iowa Eviction and Foreclosure Prevention program, which provides rent and mortgage assistance, along with utility assistance to those that are struggling to keep up with bills.

     "We've been able to assist nearly 12,000 people to date," said Ashley Jared, Communications Director with the Iowa Finance Authority.

     Applications to the program do have some requirements that need to be met. They must be able to show that their income has been reduced as a result of COVID-19 since March 17 and that their household family income is at 80% or less of the median family income for the area.

     "We have a nice tool built into the application system that helps on that," said Jared.

     Documentation showing loss of income will be key to gaining approval. Applicants should be ready to submit pay stubs, bank statements, or some other documented proof of income loss this year due to COVID-19 when applying. Alternatively, a signed and notarized affidavit may be sufficient.

     "They need to have that documentation of loss of income ready," said Jared.

     Once approved, the program will make four months worth of payments on the recipient's behalf directly to the landlord or mortgage holder, up to a maximum of $3,200 for renters or $3,600 for mortgage assistance.

     Eligible households may also receive up to $2,000 towards utility bills through the Residential Utility Disruption Prevention program.

     Landlords will be required to complete certification and agree to the terms of assistance within ten days of the application, so it is also crucial to involve the landlord in the process.

     The deadline for applying is December 4, so there is little time to delay. The CARES Act funds must be spent by December 30, 2020, leaving the program with roughly $8 million to get of by the end of the week.

     "We have to ensure that all payments are made to landlords or mortgage service providers by December 28," said Jared.

     Applications can be made at IowaHousingRecovery.com.