“Hope for Homeowners”: Mortgage Relief Program for the Unemployed

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As part of his “Hope for Homeowners” information campaign, real estate expert Nate Strager is alerting the public to various programs that can help unemployed homeowners.

UMA will provide temporary financial assistance to eligible Nevada homeowners who wish to remain in their home but have suffered a loss of income due to unemployment or underemployment.

  • Involuntary job loss due to the COVID-19 pandemic that occurred on or after January 21, 2020.
  • At least one owner must be currently unemployed and receiving Unemployment Insurance Benefits (UIB) or have received UIB at any time on or after January 21, 2020; or in addition to part-time/temporary work with the UIB.
  • Benefit/Assistance – Up to $3,000 per month for up to 12 months.
  • Includes insurance, taxes and HOA fees.
  • Will include reinstatement of delinquent first mortgage, unsecured taxes, HOA fees, and homeowner’s insurance.
  • Up to $54,000 per household.
  • Household income must be at or below 150% of the median income for the region or 100% of the median income for the United States, whichever is greater.
  • Homeowners must own and occupy a Nevada single-family home (unit 1-4), and it must be their primary residence.
  • A privilege of 3 years will be required.
  • Eligible financial hardship must have occurred after the purchase of the home and within the time period specified above.
  • The Owner cannot be in active bankruptcy.
  • Properties with a 1st priority mortgage secured by a home equity line of credit (HELOC) are not eligible.

Award-winning real estate agent Nate Strager has been in the real estate market (commercial, industrial and residential buying and selling) for over 18 years. For more information on buying or selling property and how to protect your transactions, visit www.nathanstrager.com