The Iowa Finance Authority will launch a new program aimed at helping Iowans who have seen financial losses due to COVID-19. Executive Director of the Housing Trust Fund of Johnson County Ellen McCabe shared data from the National Leased Housing Association which states 48.5 percent of renters nationally have reported being unemployed due to COVID-19 related issues. While the Federal Supplemental Unemployment Benefits are scheduled to end on July 31, the COVID-19 Iowa Eviction and Foreclosure Prevention Program will give struggling renters and homeowners short-term financial aid.
In order to receive aid, eligible Iowans must be at risk of eviction or foreclosure due to documented COVID-19 related loss of income, has not received the $600 additional federal CARES Act unemployment benefits, and has a household income that does not exceed 80% of the median family income, which varies by household size and county. Qualified individuals will be able to receive rental assistance for up to four months, a maximum of $3,200, or mortgage assistance for up to four months, a maximum of $3,000. Applications are currently being accepted on a first come, first ready basis. Further information on this program can be found at iowahousingrecovery.com.