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Hurting homeowners get help for mortgage payments

By Edited Oct 18, 2016 2 9

Government program can prevent foreclosure

Your home doesn't have to be in foreclosure to apply

US Goverment Hardest Hit Fund
In February 2010, President Obama initiated a government program for mortgage help: the Hardest Hit Fund program provides assistance for homeowner mortgage payments and helps stop home foreclosures on financially-stressed homeowners in the District of Columbia and 18 states with the highest unemployment and steep decline in home values caused by the explosion of the housing bubble and the ultimate Great Recession. Long-term mortgage assistance is available through the housing agencies of the individual states. Learn how to find help to prevent home foreclosure. The government program to prevent foreclosure and get help with mortgage payments is free. All that's required is your time and due diligence.

The Hardest Hit Fund programs are available in: California, Michigan, Ohio, Arizona, North Carolina, Alabama, Georgia, Florida, Rhode Island, Indiana, Illinois, Kentucky, New Jersey, Mississippi, Nevada, Oregon, South Carolina, Tennessee, and Washington DC. The terms of the mortgage assistance program vary from state to state, but the method of application is the same.

First, you must consult with a credit counselor, which has been approved by your state's housing agency. The counselor will then take all your financial and personal hardship information and act as a mediator between you and the housing finance agency (HFA).

Guidelines for Hardest Hit Fund financial help with mortgage payments:

  • Unemployment or underemployment

  • Going through divorce or some other financial hardship like illness

  • Can own more than one house and still get mortgage help

  • Need moving assistance to more affordable housing

  • Funding to eliminate second mortgage lien loans

  • Help with affordable mortgage modification

  • Your house doesn't have to be in foreclosure to apply

What you will need:

  • IRS 1040 completed forms
  • All notifications and communications from your bank or mortgage lender
  • Bank statements
  • Copy of mortgage agreement statements
  • Property tax and insurance records
  • Personal hardship statement

Check this list for individual state links to housing finance agencies (HFA) for instructions.

About the government program, Hardest Hit Funds: help with mortgage payments does not occur overnight, so the sooner you apply, the better off you will be.




Aug 16, 2011 4:50pm
Very concise and helpful article for homeowners that need help with mortgage payments.
Aug 17, 2011 12:48am
Thank you, Sullysee, hope it helps those who need financial assistance to prevent home foreclosure in these desperate times. Thanks for reading!
Aug 17, 2011 12:37pm
Great information for many people. It will be very helpful. Thanks for sharing.
Aug 18, 2011 12:24am
thank you, Diva
Aug 29, 2011 5:42pm
Really helpful information for home owners that need help.
Aug 30, 2011 6:57am
Thank you, Lynsuz
Oct 14, 2011 9:35pm
So many people are in over their heads with mortgage payments. Maybe this will help until the economy get better.
Oct 15, 2011 12:27am
Thank you for reading southerngirl09, this word needs to get out to those who need to avoid foreclosure. Many thanks
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  1. "Hardest Hit Fund is Available to Help Homeowners in 18 state and the District of Columbia...." US Treasury. 16/08/2011 <Web >

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