SC Housing launched SC Stay, its $25 million rental and mortgage assistance program to assist South Carolina residents whose finances have been impacted by the COVID-19 pandemic, in mid-February.

In just six days, more than 7,000 applications were received and the agency chose to close the program to new applicants while applications were reviewed and processed for payment.

Those who qualified may receive up to $7,500 for six consecutive months of short-term rental and mortgage assistance for back rent to January 2020 and/or future rent payments. Assistance was available for individuals and families who:

• Certify that they are eligible and their income is at or below 80% of county median income adjusted by family size.
• Demonstrate that they are unable to pay all or part of the rent or mortgage, or are behind on their rent or mortgage, due to circumstances stemming from the coronavirus.
• Have landlord or lender confirmation of their past-due status and be willing to accept payment on their behalf.

Funding for the program has been through the U.S. Department of Housing and Urban Development’s Community Development Block Grant program—Coronavirus (CDBG-CV) funds, and is part of the CARES Act. The S.C. Department of Commerce makes these funds available to sub grantee organizations and asked SC Housing to serve as the lead agency for rental and mortgage assistance payments for residents affected by COVID-19.

The national eviction moratorium originally issued by the U.S. Centers for Disease Control in September is currently set to expire on March 31, 2021.

While the moratorium does not prevent eviction filings, renters at risk who correctly follow the policy can prevent foreclosure actions by courts.

South Carolina Legal Services has a guide to help renters who are facing eviction. It details the steps that renters must take to seek protection. You can also contact them directly at 888.346.5592.

Learn more about how the national eviction moratorium from the U.S. Centers for Disease Control may protect you and your family, and find copies of the declaration that every adult in your household must sign at this Q&A from the NLIHC (also available in Spanish).

SC Housing is using social media to connect with the community as a part of its 50th anniversary celebration. The agency is sharing social media posts about the anniversary and valuable contributions of its partners in making affordable housing possible to families in our state. You can follow these stories and events on the agency’s Facebook, LinkedIn, Twitter and new Instagram pages.

The 50th anniversary celebration kicked off in February with a special thank-you video from Executive Director Bonita Shropshire and Board Chairman Robert D. Mickle Jr. The year-long anniversary celebration will continue with a focus on the people who have helped the agency accomplish its mission of providing safe, decent and affordable housing. Stay tuned for upcoming highlights of our customers, public and private community partners, and elected officials.

Our anniversary theme is “Turning Challenges into Opportunities: A Journey of Hope.” We look forward to you being a part of this milestone event for our agency.

Affordable housing is big business in SC

The financial impact of SC Housing’s three primary programs – mortgage production, development of affordable multifamily rental housing, and administration of Housing Choice Vouchers and project-based rental assistance – was more than $760 million in the fiscal year ending June 30, 2020.

That’s according to a new report from the agency and the University of South Carolina’s Darla Moore School of Business. The SC Housing Impact Report for FY2020 includes the economic impact across South Carolina, as well as in each county, congressional district, state house district and state senate district.

Over the past five years, SC Housing’s investments have had a $4.2 billion impact on South Carolina through wages, job creation and purchasing of raw materials.

View the full SC Housing Impact Report for FY2020 on our website.

SC Housing recently announced enhancements to its Palmetto Home Advantage Program. New features include government loan options (FHA/USDA/VA) and other enhancements.

The new program changes took effect Feb. 1, 2021 with Lakeview Loan Servicing joining as a new partner. Palmetto Home Advantage is a non-bond program that is open to first-time homebuyers as well as move-up buyers. It offers buyers a market rate loan and flexible underwriting with down payment assistance of 0%, 4%, or 5% of the loan amount.

Learn more about the program, and see a list of our approved lending partners, on our website.

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