UMA will provide temporary financial assistance to eligible Nevada homeowners who wish to remain in their homes but have suffered a loss of income due to unemployment or underemployment.
- Experienced involuntary job loss due to COVID-19 pandemic that occurred on or after January 21, 2020.
- At least one homeowner must currently be unemployed and receiving Unemployment Insurance Benefits (UIB) or have received UIB any time on or after January 21, 2020.
- Benefit/Assistance for up to 12 months.
- Includes insurance, taxes, and HOA fees.
- Will include reinstatement of delinquent first mortgage loan, non-escrowed taxes, HOA fees, and homeowner’s insurance.
- Up to $65,000 per household.
- Up to twelve monthly payments, continued recertification of employment status required.
- Household income must be equal to or less than 150% of the area median income or 100% of the median income for the United States, whichever is greater.
- Homeowner must own and occupy a single family Nevada home (1-4 unit), condominium or manufactured/mobile home and it must be their primary residence.
- A 3-year lien will be required.
- Eligible financial hardship must have occurred after the purchase of the home and within the timeframe specified above.
- Homeowner cannot be in an active bankruptcy.
- Properties with 1st priority mortgage secured by a Home Equity Line of Credit (HELOC) are not eligible.