Recently, Governor Cuomo signed legislation that provides renters across New York with $100 million total in financial relief. In the legislation, which extends through July 31, individuals seeking financial assistance will have to prove several things. First, they must prove that they lost income due to the COVID-19 pandemic. From here, they will have to demonstrate that their household income is below 80% of the area median income and that their monthly rent is more than 30% of their household income.
As long as it is determined that you meet those qualifications, you will receive a rental subsidy voucher from the state Division of Home and Community Renewal. This monthly subsidy is limited to 125% of the fair market rent. This is a historic, though a much-needed move for many renters across the state. Those who are late on rent payments should also take note that Governor Cuomo has recently signed legislation that bans rental evictions due to COVID-19 until August 20, 2020.
If you have any additional questions about this legislation or how it may impact you, please do not hesitate to give our experienced Rockland County bankruptcy attorney a call today. These are unprecedented times, and thankfully, the government is seemingly cooperating and helping those who need it most, as we all understand the severity of the current world climate. Whether you are having trouble paying off your mortgage or making regular rent payments due to COVID-19, our firm is here to help. All you have to do is give us a call.
Contact our experienced New York firm
The Law Offices of Allen A. Kolber, Esq. effectively represents clients facing Bankruptcy in Rockland County and all of New York State. Our firm understands the stress one can feel when facing a difficult financial future. Our compassionate staff will work to ease your fears and help you make a new start. If you need quality legal support, contact The Law Offices of Allen A. Kolber, Esq.
