What states have hardest hit funds?

What states have hardest hit funds?

The states that received funds and set up Hardest Hit Fund programs are Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee, and Washington, D.C.

What is the Florida Hardest Hit Fund?

The federal government has allocated funding to assist eligible Florida homeowners who owe at least 115% more on their home than its current market value, commonly referred to as the home being “underwater.” The Florida Hardest-Hit Fund Principal Reduction (HHF-PR) program will provide up to $50,000 to an eligible …

How does hardest hit Alabama work?

The foreclosure prevention funds are being distributed by the state housing finance agency, which in this case is the AHFA. The Hardest Hit Alabama fund will supply qualified unemployed homeowners with up to 12 monthly mortgage payments, or up to $15,000 per household, depending on which limit is reached first.

Who qualifies for down payment assistance in Florida?

Income eligibility for down payment assistance ranges from 80% of 120% of an area’s AMI. So, for example, if the midpoint income for an area is $50,000, to qualify for a down payment assistance program, your income must be between $40,000 and $60,000.

What is the primary objective of the HFA Hardest Hit Fund?

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.

Are mortgage assistance payments taxable?

No other effect on taxes. Do not include mortgage assistance payments as income. Also, do not use these payments to reduce other deductions, such as real estate taxes.

What is HHF mortgage?

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.

What deposit does a first time buyer need?

With a first-time buyer mortgage, you’re likely to be looking for a 90% or 95% mortgage deal (meaning you’ll need a 5% or 10% deposit saved.)

What is the hardest hit Fund (HHF)?

The US Treasury administers the Hardest Hit Fund (HHF), which provides aid to the states that were most impacted by the economic crisis. The program ended on December 31, 2020. States have already concluded the application process.

How do I contact the hardest hit Fund Center?

If you were a Hardest Hit Fund recipient and have questions about your HHF program or loan, including refinancing requirements, please email [email protected], or you may call 1-877-863-5244 and leave a voice mail. If you would like to request a payoff statement for a Hardest Hit Fund loan please email [email protected].

How do I apply for the Indiana hardest hit fund?

To learn more or to apply for the Indiana Hardest Hit fund, call your local HUD housing agency in Indiana. Counselors can guide you through this process or other foreclosure prevention tactics. Or dial the Indiana Housing and Community Development Authority (IHCDA) at (317) 232-7777. “Related Links” are listed below.

How do I request a payoff statement for a hardest hit fund?

If you would like to request a payoff statement for a Hardest Hit Fund loan please email [email protected].