"The Term Sheet summarizes the principal terms of the Financing of a Company, in consideration of the time and expense devoted, and to be devoted, by the Investors with respect to the investment. Term Sheets include detailed provisions describing the terms of the preferred stock being issued to investors. Some terms are more serious than others.
The Term Sheet is not a commitment to invest, and is conditioned on the completion of the conditions to closing set forth."
Michigan Term Sheet
State:
Multi-State
Control #:
US-ENTREP-0055-1
Format:
Word;
Rich Text
Instant download
Description
Free preview
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FAQ
Hear this out loud PauseHow Much Can I Get? Households can receive up to $25,000 in assistance. You can only get assistance one time per household. Funds are given on a first-come, first-served basis within the program's priority guidelines.
The Michigan Homeowner Assistance Fund (MIHAF) is for homeowners with financial hardships due to the COVID-19 pandemic. The Michigan State Housing Development Authority (MSHDA) processes the applications, while Wayne Metro is here to help you submit your application!
The program uses federal funds allocated under the American Rescue Plan Act of 2021 to pay up to $25,000 per eligible household for homeownership-related expenses such as delinquent mortgage, property taxes, escrow shortages, and utility payments.
How Much Can I Get? Households can receive up to $25,000 in assistance. You can only get assistance one time per household. Funds are given on a first-come, first-served basis within the program's priority guidelines.
Hear this out loud PauseUp to $25,000 Grant Per Household to Pay: Delinquent mortgage/housing expenses, including property tax and insurance escrow shortages. Delinquent land contract payments, mobile home consumer loan payments or mobile home park lot payments. Delinquent property taxes (all years)
Hear this out loud PauseApply for Michigan Homeowner Assistance Fund (MIHAF). MIHAF funds are projected to last until the fourth quarter of 2023. Self-apply or call 211 for assistance with the online application.
Hear this out loud PauseTo be eligible for assistance under the Michigan's MIHAF Program, homeowners must not exceed incomes equal to or less than 150% of the area median income household limit in ance with HUD'S FY HAF Income Limits adjusted annually in the Spring. (?Homeowner Income Eligibility Requirements?).