RENT ASSISTANCE - Financial experts say it’s a good plan to have some cash set aside for emergencies and most recommend having at least 6 weeks take-home pay saved up for those unpredictable things like unforeseen home or car repairs, or temporary job losses due to layoffs or illness.
But according to the researchers with the financial services firm JP-Morgan / Chase and Company – less than 2/3rds of America’s families don’t have an adequate “rainy-day fund” . And thanks to the Coronavirus pandemic – this fact is being played out as people have been laid off due to business closures and are struggling with day-to-day expenses like buying groceries, paying utility bills and making rent.
Yesterday afternoon during his Covid-19 update- Governor John Bel Edwards announced that the state of Louisiana is offering $24 million in emergency rent assistance to low-income residents because their paychecks have taken a hit from the coronavirus outbreak.
"The program can also provide financial assistance to Louisiana renters who are not current on their rent and are at imminent risk of eviction due to Covid-19," explained Edwards.
The Louisiana rent help program is limited to low-income individuals and families. The rental aid will pay for 3 months’ rent and 3 months’ back rent to be paid directly to landlords on behalf of the tenants. Keith Cunningham, executive director of the Louisiana Housing Corporation, which is managing the program.
"Currently the program is available to individuals who are at 30% or below average media income," explained Cunningham.
Right now, approximately $7 million is available. Again - The $24 million dollars in rental assistance will be paid out directly to landlords and not the tenants. To learn more --information or apply for the Louisiana Rental Assistance program you can call 211 or going online to LaRentHelp.com
