As my colleague, Jim Slaughter, reported last month, the new federal Homeowner Assistance Fund established a program with nearly $10 billion for states to provide relief to those suffering from the effects of the COVID-19 pandemic. For South Carolina homeowners who have become delinquent in their HOA or condo assessments during the pandemic, this program may offer assistance.
In general terms, the SC Homeowner Rescue Program (SC HRP) accepts applications from South Carolina homeowners who were impacted by the pandemic and need assistance with housing-related expenses. Funds may be available on a first-come, first-served basis. There are income requirements, as well as other requirements. In addition, any request must be related to a primary residence.
Each state had to put together its own plan for how to use available federal funds, submit it, and have the plan approved by the U.S. Treasury. South Carolina’s plan was just approved, and, after a brief pilot period, is being revised to allow eligible homeowners to apply beginning March 21, 2022. Although South Carolina’s original submission did not include payments to HOAs / condos, the plan is being revised and eligible homeowners may be able to obtain payment assistance for homeowner’s association fees or liens, condominium association fees, or common charges, and similar costs.
In order for any homeowners association or condominium to receive payment on behalf of a homeowner who receives funds through the program, that association must register with SC Housing.Â
If you are a homeowner who may benefit from the program, or if you are a homeowners association or condo that may accept funds on behalf of a homeowner, please visit the SC Homeowner Rescue Program website. Feel free to forward this article to other owners, to community managers, board members, or anyone who may be able to take advantage of these funds.
Author: David Wilson
Articles have been Reprinted with permission from Black, Slaughter, Black.
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