State of Colorado HOMEOWNER ASSISTANCE FUND (HAF) …

State of Colorado

HOMEOWNER ASSISTANCE FUND (HAF) DRAFT PLAN

PUBLIC HEARING | AUGUST 4, 2021

Denver, Colorado 80220 970.880.1415 x 102 hello@

Agenda

HAF Overview Draft Colorado HAF Program Details Public comments and input

Meeting Etiquette

To ensure that everyone in attendance has a chance to voice their opinion and to make sure we can hear all comments: Please keep your comments detailed yet concise to give all attendees an opportunity to make comments. Please listen to and respect other viewpoints without interrupting. There are no right or wrong answers in our discussion

today. If you have more to say, or if you have any other questions, please email us at frankie@.

WHAT IS THE HOMEOWNER ASSISTANCE FUND (HAF)?

The HAF was established under section 3206 of the American Rescue Plan of 2021.

The fund was established to mitigate financial hardships associated with the coronavirus pandemic by providing funds to eligible entities for the purpose of preventing mortgage delinquencies, defaults, foreclosures, loss of utilities or home energy services, and displacements of homeowners experiencing financial hardship after January 21, 2020, through qualified expenses related to mortgages and housing.

ELIGIBILITY CRITERIA

HAF funding is available to homeowners in the state of Colorado who have experienced a financial hardship due to the pandemic and have incomes equal to or less than 150% of the area median income.

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What can the funds be used for?

Mortgage payment assistance

Financial assistance to allow a homeowner to reinstate a mortgage or to pay other housing-related costs related to a period of forbearance, delinquency, or default

Mortgage principal reduction, including with respect to a second mortgage provided by a nonprofit or government entity

Facilitating mortgage interest rate reductions

Payment assistance for homeowner's utilities, internet service, homeowner's insurance, flood insurance, homeowner's association fees or liens, condominium association fees, or common charges; down payment assistance loans provided by nonprofit or government entities

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