New State Program Helps Sandy Homeowners Pay Rent
Financial help will soon be available for families paying rent while waiting for the rebuilding or elevation of their Sandy damaged homes. According to nj.com, a new program announced by the state today will offer homeowners up to $825 dollars a month for up to three months to help cover the cost of temporary housing.
A federal grant to fund the $9.5 million dollar program to help homeowners was approved today by the New Jersey Housing and Mortgage Finance Agency. The program stipulates that only homeowners participating in the RREM and Low-to-Moderate Income Homeowners Rebuilding Program (LMI) are eligible.
There is reportedly no income restrictions for this program. Homeowners can start applying on March 16th.