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Officials earmark $40 million for rent, mortgage assistance

By The Associated Press

DOVER, Del. (AP) — Delaware officials are using $40 million in federal coronavirus relief funds to help people struggling to make their rent or mortgage payments because of the pandemic.

Officials are reopening the Delaware Housing Assistance Program to provide financial assistance for renters affected by COVID-19.

The program was initially launched in March but halted in April following an overwhelming number of applications.

The program will offer up to $5,000 to eligible renters affected by coronavirus-related business closures, layoffs, reduced work hours, or unpaid leave.

State officials expect to use up to $500 million in federal money to cover unemployment benefits for the thousands of Delawareans out of work.

Should you buy a house with cash?

By U.S. News & World Report
High mortgage interest rates may have you exploring alternative ways of buying your home that don't require a loan. And while the competition for a new home may not be what it was in 2021, for the right home you may still need to work to get a leg up on the competition. If you have the means, an all-cash offer is a great way to fast-track a deal and avoid the additional costs that come with a mortgage. A seller is more likely to accept your offer, and the success of the deal isn't reliant on a lender's OK following an appraisal. You'll also own the home outright after the transaction with no mortgage to pay each month.
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