Clients must print, fully complete and sign all documents prior to contacting their counselor.
Helpful Tips and Timelines
Please note: Turn times depend heavily on the completeness of the application packet when it is submitted. The average turn time is 60 days from application to closing.
- After you complete initial intake, either through the Web site or call center, write down and keep the contact information for your assigned housing counseling agency. Once you complete your application packet, you will need to contact them to proceed.
- You will either print the application packet from the Web or KHC will send one in the mail. Be sure to complete the packet to the best of your ability and gather all documentation listed on the cover sheet as it applies to you. If you have questions while filling out the packet, you may contact your counselor for assistance.
- Once your packet is complete, your counselor will make an appointment for either a face-to-face meeting or pre-screening over the phone. Your counselor will also let you know how to get the application packet to them for review.
- Access to a printer/copier/fax machine can often be found at your local library or post office. Your servicing lender or church may also allow use of this equipment.
- After the application packet is reviewed by the counseling agency, it will be submitted to Kentucky Housing Corporation (KHC) for review. Your counselor will keep you updated on any decisions regarding your file, including any additional documentation needed.
- If you are approved, you will be notified by your counselor. Also, your information will be sent to your servicing lender(s) for final approval. This step can take up to 30 days, depending on the servicer.
- If you do not meet program requirements, our counselor may still be able to assist you with other options FREE OF CHARGE.
- Once your servicing lender(s) have approved you for the Unemployment Bridge Program, a member of KHC's closing team will call you to schedule a closing in your area. You will need to bring a picture ID to the closing.
- The maximum possible assistance is 12 months or $15,000, whichever comes first. The first payment to your servicing lender(s) will be any arrearage payment not to exceed the maximum possible assistance. This payment is wired within 10 business days from closing. It will take 10-14 business days for servicing lender(s) to post your payment.
- Once arrearage, or reinstatement, has been paid, any remaining assistance, up to the total of $15,000, can be used for monthly mortgage payments, which will begin the month following closing. Payments are wired directly to your servicing lender(s) by the 10th of each month. It will take 10-14 business days for the servicing lender to post your payment once received.
- At the end of your program, you will receive written notification from KHC of when you should resume your mortgage payments.
- If at any time from application through receipt of benefits, you regain employment or recover lost income, you MUST notify your housing counselor immediately.