Money for rent, mortgages included in new relief proposal from Congress

By Troy Torres

troy@kanditnews.com



A federal funds package includes $66.9 million in rental relief, and $29 million in homeowner relief for Guam, according to Congressman Michael San Nicolas.


The federal government will pay landlords the rent they are owed from qualified renters over the next three years, or until funds are exhausted, whichever comes first. Qualified renters must make within 80 percent of median income at the time of application, and must have insufficient ability to pay rent.


The federal government also will provide $29 million to Guam under the Homeowner Assistance Fund.


The funds are part of a $2 trillion coronavirus relief package set to pass in the House and believed to have bipartisan support in the Senate. The White House already has signaled its support for the general tenets of the proposal.

250 views1 comment