A federally-funded program supporting Kansas homeowners is going to close soon.
Emily Sharp, a spokeswoman for the Kansas Housing Resources Corporation (KHRC), reports the Kansas Homeowner Assistance Fund (KHAF) is almost out of money. The program is in its Final Funding stage, leaving only a small window of time for homeowners in need of help to apply.
“The economic impact of the pandemic continues to be felt by families and communities across the state,” said Ryan Vincent, Executive Director of Kansas Housing Resources Corporation, which administers the KHAF program. “This assistance has provided housing stability and preserved the dream of homeownership for more than 3,000 Kansas families in need.”
The KHAF was put in place through money provided by the American Rescue Plan Act (ARPA) to assist qualified homeowners in Kansas to avoid foreclosure, according to Sharp. Eligible homeowners at least 30 days past-due on mortgage and/or property taxes can receive financial help for mortgages, utility bills, property taxes and other charges associated with delinquency. KHAF has distributed nearly $40 million to more than 3,500 households in Kansas since the program launched in April 2022, according to Sharp.
The closure process of KHAF will involve three phases:
*Final Funding Phase: Homeowners seeking KHAF support should apply as soon as possible to be considered for final funding.
*Hold Phase: Once the program receives enough applications to fully expend all KHAF funds, approval of new applications and recertifications will be subject to availability of remaining funds. Applications submitted during Hold Phase will be placed on hold and will not be reviewed or processed unless sufficient program funds are available.
*Closure Phase: When all program funds are exhausted, the program will close and will stop accepting new applications.
Sharp reports the KHAF is in Final Funding Phase. The time spent in each phase is subject to factors such as application volume and amount of assistance requested.
If you have more questions, you can call 855-307-5423.
Earlier this year, the KHRC also announced a new program to assist homeowners called the Home Loan Guarantee for Rural Kansans.