Hardest Hit

Hardest Hit Fund
Program Purpose and Overview​

The housing crisis that began in 2007 led to unprecedented home price declines and sustained and higher unemployment in certain parts of the country. Families in these areas have been particularly hard hit by this crisis as they have struggled to make their monthly mortgage payments and grappled with deeply underwater mortgages.

Hardest Hit Fund
Program Purpose and Overview
The housing crisis that began in 2007 led to unprecedented home price declines and sustained and higher unemployment in certain parts of the country. Families in these areas have been particularly hard hit by this crisis as they have struggled to make their monthly mortgage payments and grappled to get out from under deeply underwater mortgages.

President Obama established the Hardest Hit Fund SM in February 2010 to provide targeted aid to families in states hit hard by the economic and housing market downturn. As part of the Administration’s overall strategy for restoring stability to housing markets, HHF provides funding for state HFAs to develop locally-tailored foreclosure prevention solutions in areas that have been hard hit by home price declines and high unemployment. From its initial announcement, this program evolved from a $1.5 billion initiative focused on HFAs in the five states with the steepest home price declines and the vast majority of underwater homeowners to a broader-based $7.6 billion initiative encompassing 18 states and the District of Columbia.

States were selected for funding either because they were struggling with unemployment rates at or above the national average or steep home price declines greater than 20 percent. Each state’s program was designed and is administered by that state’s housing finance agency (HFA).

Hardest Hit Fund programs vary state to state, but may include the following:

Mortgage payment assistance for unemployed or underemployed homeowners
Principal reduction to help homeowners get into more affordable mortgages
Funding to eliminate homeowners’ second lien loans
Help for homeowners who are transitioning out of their homes and into more affordable places of residence.
Most HHF programs target assistance toward unemployed homeowners and those with homes that are worth less than the value of their mortgages. For more information about the program in a particular state, please check with that state’s HFA

Hardest Hit Fund
State-By-State Information
Each state’s most recent quarterly performance report, fact sheets, and website are included below. For more information about a state’s Hardest Hit Fund program, please contact the state housing finance agency directly.

HFA Quarterly Report Q1 2013
(Please see the individual HFA performance reports for full details, additional information, any footnotes or corrections, and additional context.)

Alabama

Allocation: $162,521,345
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.hardesthitalabama.com
Latest Amendment: Alabama Seventh Amendment to Agreement
Homeowner Stories: After an Unexpected Layoff, Cherea of Montgomery Finds Peace of Mind with Hardest Hit Alabama

Arizona

Allocation: $267,766,006
Most Recent Quarterly Report
Fact Sheet
For more information: https://www.azhousing.gov/
Latest Amendment: Arizona Eleventh Amendment to the Agreement
California

Allocation: $1,975,334,096
Most Recent Quarterly Report
Fact Sheet
CA Keep Your Home Flyer
CA Keep Your Home Flyer – Spanish

For more information: www.keepyourhomecalifornia.org
Latest Amendment: California Tenth Amendment to the Agreement
Homeowner Stories: How People Have Benefitted from KYHC Assistance

Florida

Allocation: $1,057,839,136
Most Recent Quarterly Report
Fact Sheet
For more information: https://www.flhardesthithelp.org/
Latest Amendment: Florida Seventh Amendment to the Agreement

Georgia

Allocation: $339,255,819
Most Recent Quarterly Report
Temporary Mortgage Payment Assistance
For more information: https://www.homesafegeorgia.com
Latest Amendment: Georgia Fourth Amendment to the Agreement
Illinois

Allocation: $445,603,557
Most Recent Quarterly Report
Fact Sheet
For more information: https://www.illinoishardesthit.org/
Latest Amendment: Illinois Eighth Amendment to Agreement
Indiana

Allocation: $221,694,139
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.877gethope.org
Latest Amendment: Indiana Seventh Amendment to Agreement
Kentucky

Allocation: $148,901,875
Most Recent Quarterly Report
Fact sheet
For more information: http://www.ProtectMyKYHome.org
Latest Amendment: Kentucky Sixth Amendment to the Agreement
Michigan

Allocation: $498,605,738
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.stepforwardmichigan.org
Latest Amendment: Michigan Seventh Amendment to the Agreement
Mississippi

Allocation: $101,888,323
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.mshomesaver.com
Latest Amendment: Mississippi Sixth Amendment to the Agreement
Nevada

Allocation: $194,026,240
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.nahac.org/
Latest Amendment: Nevada Tenth Amendment to Agreement.pdf
New Jersey

Allocation: $300,548,144
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.njhomekeeper.gov
Latest Amendment: New Jersey Fifth Amendment to Agreement
North Carolina

Allocation: $482,781,786
Most Recent Quarterly Report
Fact Sheet: Get Help to Save Your Home | Get Help to Reduce Your Mortgage Payment
For more information: http://www.ncforeclosureprevention.gov/
Latest Amendment: North Carolina Fifth Amendment to Agreement
Homeowner Stories: The Hardest Hit Fund is Available to Help Homeowners like Paul in North Carolina
Ohio

Allocation: $570,395,099
Most Recent Quarterly Report
Fact Sheet
For more information: http://ohiohome.org/savethedream/
Latest Amendment: Ohio Seventh Amendment to Agreement
Homeowner Stories: The Hardest Hit Fund is Helping Struggling Homeowners like Grace in Ohio
Oregon

Allocation: $220,042,786
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.oregonhomeownerhelp.org/
Latest Amendment: Oregon Twelfth Amendment to the Agreement
Homeowner Stories: Help for Unemployed and Underemployed Homeowners – in Oregon and Across the Country
Rhode Island

Allocation: $79,351,573
Most Recent Quarterly Report
Fact Sheet
For more information: http://www.hhfri.org/
Latest Amendment: Rhode Island Seventh Amendment to the Agreement
Homeowner Stories: The Hardest Hit Fund is Helping Struggling Homeowners Like Mirta of Pawtucket, RI
South Carolina

Allocation: $295,431,547
Most Recent Quarterly Report
Fact Sheet
About SC HELP
For more information: http://www.schelp.gov/
Latest Amendment: South Carolina 5th Amendment to Agreement

Tennessee

Allocation: $217,315,593
Most Recent Quarterly Report
Fact Sheet | Spanish Fact Sheet
For more information: http://www.keepmytnhome.org/
Latest Amendment: Tennessee 7th Amendment to Agreement
Washington DC

Allocation: ($20,697,198)
Most Recent Quarterly Report
Fact Sheet
For more information: https://www.homesaverdc.org/
Latest Amendment: Washington DC Seventh Amendment to the Agreement

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