Third Stimulus Check: Stimulus Check updates: How can homeowners get their stimulus money?
After all three stimulus checks were administrated in the United States, it remains uncertain whether president Joe Biden will agree to a fourth stimulus check to assist families in coping with the coronavirus pandemic.
However, there is another stimulus check which is lesser-known and will be issued in order to help those homeowners who have been dealt setbacks following the COVID-19 outbreak and prevent them from losing their houses.
A ten-billion-dollar fund
The amount of 10 billion dollars was included in the Homeowners Assistance Fund as part of the United States’ American Rescue Plan stimulus relief bill.
Eligible homeowners will be provided with money to avoid loan delinquencies, foreclosures and losing utility services, with the law prioritising funds for those who have struggled the most during the pandemic.
Which homeowners are eligible for the stimulus check?
According to the American Rescue Plan Act, homeowners are eligible for the stimulus money if their income does not exceed 150 percent of their area average income and in the event they can prove that they experienced financial hardship, such as job loss or healthcare expenditure, after January 21, 2020.
They also must prove that they have a mortgage balance of less than 548,250 dollars as of 2021.
How can homeowners receive their stimulus money?
Each state is expected to receive a minimum 50m dollars and will provide homeowners with details on how they should apply for the stimulus check.
States will break down the eligibility limitations for the homeowners depending on the area. In the event you are willing to apply for more financial relief from the federal government, you can check out your state’s housing agency website for more details.
Now news about a fourth stimulus check
Back in May, a group of Democratic lawmakers in the House Ways and Means Committee requested through a letter to Biden the administration of two more stimulus checks, but the White House has given no update since.
“The president is certainly open to a range of ideas,” said White House press secretary Jen Psaki earlier in June.
“He’s happy to hear from a range of ideas on what would be most effective and what’s most important to the economy moving forward.”