HARDEST HIT FUND

Third Quarter 2016 Performance Summary
90+ Delinquency: Percentage of serviced loans 90 days or more past due or in the process of foreclosure.

(Source: Mortgage Bankers Association’s National Delinquency Survey)

Unemployment Rate: Ratio of unemployed to the civilian labor force.

(Source: Bureau of Labor Statistics)

Program Funds: Program funds are equal to the HFA’s total HHF allocation cap, less permitted administrative expenses.

Funds Drawn: Program and administrative funds HFAs have drawn from their account with Treasury containing their 

total HHF allocations.

Funds Disbursed: Funds HFAs have disbursed to HHF program participants, including those disbursed through down 

payment and blight elimination programs.

Homeowners Assisted: Eligible homeowners who have received financial assistance under one or more HHF programs. 

Includes borrowers assisted under down payment programs. Does not include structures removed under 

blight elimination programs.

Assistance Provided: Amount of financial assistance provided under HHF programs (equal to funds disbursed).

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

• In 2010, The Hardest Hit Fund (HHF) provided $7.6 billion to 18 states and the District of Columbia to assist struggling 

homeowners through locally tailored programs administered by each respective housing finance agency (HFA) in order to help 

prevent foreclosures and stabilize housing markets. These areas were designated “hardest hit” because they experienced steep 

home price declines and/or severe unemployment in the economic downturn.

• On February 19, 2016, Treasury announced the extension of HHF through December 31, 2020, and an additional $2 billion to 

allocate to the programs, for a total allocation of $9.6 billion. HFAs may choose to re-open select, closed programs or propose 

new programs.

• HFAs report program performance on a quarterly basis. This Quarterly Performance Summary is intended to serve as an 

additional resource for Hardest Hit Fund program information, performance data, and key economic and loan performance 

indicators. For more detailed information, including any reporting corrections or revisions that occurred subsequent to the 

quarter end, please see the official quarterly report posted on each HFA’s website accessible on the “State-by-State Information” 

page found here: www.treasury.gov/HHF.

Terms used in this Summary:

2
HARDEST HIT FUND

TOTAL ALLOCATION: $9.6 billion

DESCRIPTION:

• HFAs have implemented a number of different programs to help 

homeowners, including mortgage payment assistance, reinstatement, 

short sale/transition assistance, principal reduction and modification 

assistance, down payment assistance, and blight elimination 

programs.

• As of September 30, 2016, there were 80 active programs across the 

19 HFAs. Approximately 80 percent of homeowners approved for 

HHF programs have received assistance due to a hardship related to 

either unemployment or underemployment.

• In the aggregate, states have drawn $6.8 billion of their program 

funds from Treasury (70% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program

Funds 

Disbursed (%)

$4.50 billion $5.51 billion 22.5% 4.8%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

241,824 280,866 16.1% 4.0%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.1% 5.0% 3.6% 3.0%

www.treasury.gov/HHF

All information as of September 30, 2016

Homeowners Assisted and Assistance Provided

As of September 30, 2016

0

50,000

100,000

150,000

200,000

250,000

300,000

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

2012 2013 2014 2015 Q3 2016

Homeowners Assisted Assistance Provided

$5.5 billion

* These figures now include borrowers receiving assistance 

under down payment assistance programs.
HARDEST HIT FUND

TOTAL ALLOCATION: $9.6 billion

4

All information as of September 30, 2016

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

OR CA SC RI FL TN OH NC KY HHF NJ DC AZ MI MS IL IN NV GA AL

Assistance Provided as a Percent of Program Allocation

Assistance Provided 9/30/15 Assistance Provided 9/30/15 - 9/30/16
ALABAMA

Alabama Hardest Hit Fund

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides monthly 

mortgage payments and reinstatement assistance on behalf of 

homeowners who are unable to afford their monthly mortgage 

payment due an employment-related or other eligible financial 

hardship. 

• Short Sale Assistance Program – Provides assistance to 

facilitate a short sale for homeowners who are no longer able 

to afford their home. 

• Loan Modification Assistance Program – Provides principal 

reduction assistance to facilitate a modification, recast, or fully 

extinguish low-balance liens for eligible homeowners. The 

assistance must result in an affordable monthly mortgage 

payment.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state. 

RECENT ACTIVITY:

• In August, Alabama began working with the cities of 

Birmingham and Mobile as part of its efforts to expand its 

Blight Elimination Program.

• Alabama has drawn approximately $57.0 million from 

Treasury as of September 30, 2016.

5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$34.5 million $42.9 million 24.3% 9.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,267 5,057 18.5% 6.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

6.1% 5.4% 3.7% 3.0%

For more details, visit: http://www.hardesthitalabama.com 

All information as of September 30, 2016
ARIZONA

Save Our Home Arizona

Total Allocation = $296.0 million

PROGRAMS:

• Principal Reduction Assistance – Provides principal reduction to 

facilitate a mortgage modification, recast, or a HARP or other 

eligible refinance. Principal curtailment may be available for nondelinquent, severely underwater homeowners.

• Second Mortgage Assistance – Provides funds to eliminate 

second mortgages to enable a first mortgage modification or a 

short sale.

• Unemployment/Underemployment/Reinstatement Mortgage 

Assistance – Provides monthly mortgage payments and/or 

reinstatement assistance on behalf of unemployed or 

underemployed homeowners. Homeowners must contribute a 

portion of their monthly income.

• Short Sale Assistance – Provides assistance to facilitate a short 

sale, including closing costs and/or lien extinguishment. A limited 

amount of funds may be paid directly to the homeowner for 

transition assistance. Assistance may also be used to facilitate a 

short sale with lease-to-own option on select transactions.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods 

in targeted areas that continue to demonstrate high levels of 

housing market distress.

RECENT ACTIVITY:

• In the third quarter, Arizona disbursed approximately $4.8 million 

through its Down Payment Assistance Program to stimulate market 

activity and prevent avoidable foreclosures in neighborhoods 

struggling to recover.

• Arizona has drawn approximately $204.3 million from Treasury as 

of September 30, 2016.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$108.3 million $154.0 million 42.1% 14.0%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,065 5,983 47.2% 23.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.9% 5.5% 1.7% 1.4%

For more details, visit: https://www.savemyhomeaz.gov

All information as of September 30, 2016

* These figures have been adjusted beginning in Q3 2016 to account for 

borrowers receiving assistance under Down Payment Assistance Programs
CALIFORNIA

Keep Your Home California

Total Allocation = $2.359 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly mortgage payment assistance on behalf of 

unemployed or underemployed homeowners.

• Mortgage Reinstatement Assistance Program – Provides 

assistance to reinstate a delinquent mortgage.

• Principal Reduction Program – Provides principal reduction 

with a loan recast or modification with a rate reduction; may 

provide principal curtailment for homeowners with severe 

negative equity.

• Transition Assistance Program – Provides relocation 

assistance in conjunction with a deed-in-lieu or short sale.

• Community 2nd Mortgage Principal Reduction Program 

(Closed) – Provides matched principal reduction to reduce or 

eliminate second mortgages or subordinate liens. C2MPRP is 

administered by Community HousingWorks. 

• Reverse Mortgage Assistance Pilot Program – Provides 

funds to reinstate delinquent property taxes or liens for eligible 

homeowners.

RECENT ACTIVITY:

• In August, California expanded eligibility under its Reverse 

Mortgage Assistance Pilot Program to allow for assistance to 

additional homeowners.

• California has drawn approximately $1.86 billion from 

Treasury as of September 30, 2016.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$1.14 billion $1.50 billion 31.7% 6.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

54,010 63,657 17.9% 3.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

6.0% 5.5% 1.9% 1.5%

For more details, visit: http://www.keepyourhomecalifornia.org 

All information as of September 30, 2016
DISTRICT OF COLUMBIA

HomeSaver Program

Total Allocation = $28.7 million

PROGRAMS: 

HomeSaver includes the following:

• Lifeline – Provides one-time reinstatement assistance to bring 

a delinquent mortgage current for unemployed or 

underemployed homeowners. Homeowners must have 

received unemployment benefits within 6 months of applying 

or be earning substantially less income compared to their 

income prior to experiencing a financial hardship. 

• Mortgage Assistance – Provides monthly payment assistance 

on behalf of unemployed or underemployed homeowners who 

are unable to afford their monthly payments. 

• Restore – Provides one-time reinstatement assistance on 

behalf of previously unemployed or underemployed 

homeowners who are currently or newly able to afford their 

monthly mortgage payments.

• Tax Lien Extinguishment – Provides one-time assistance to 

extinguish delinquent real property taxes for eligible District of 

Columbia homeowners.

RECENT ACTIVITY:

• In the third quarter, DC reopened its HomeSaver to new 

applicants.

• DC has drawn approximately $18.2 million from Treasury as 

of September 30, 2016.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$13.7 million $13.8 million 0.7% 0.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

705 709 0.6% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

6.7% 6.1% 4.3% 3.9%

For more details, visit: https://www.homesaverdc.org

All information as of September 30, 2016
FLORIDA

Florida Hardest-Hit Fund

Total Allocation = $1.136 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly payment assistance on behalf of homeowners who 

are unable to afford their monthly mortgage payment due an 

eligible financial hardship. 

• Mortgage Loan Reinstatement Program – Provides 

assistance to reinstate a delinquent mortgage.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible distressed mortgages. 

Principal reduction may be matched with non-program funds 

to facilitate a mortgage modification.

• Principal Reduction Program – Provides principal 

reduction for a current homeowner with a loan recast or 

refinance to reduce a homeowner’s monthly payment.

• Elderly Mortgage Assistance Program – Provides funds to 

reinstate delinquent property taxes or liens for eligible 

homeowners who have received the maximum benefit from 

their reverse mortgages.

• Down Payment Assistance Program – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

RECENT ACTIVITY:

• In August, Florida expanded its Down Payment Assistance 

Program to an additional six counties.

• Florida has drawn approximately $797.0 million from 

Treasury as of September 30, 2016.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$543.0 million $682.0 million 25.6% 6.7%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,120 31,505 30.6% 8.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.1% 4.7% 5.6% 4.1%

For more details, visit: https://www.flhardesthithelp.org

All information as of September 30, 2016

* These figures have been adjusted beginning in Q3 2016 to account for 

borrowers receiving assistance under Down Payment Assistance Programs
GEORGIA

HomeSafe Georgia

Total Allocation = $370.1 million

PROGRAMS:

• Mortgage Payment Assistance – Provides monthly 

payment assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford their 

monthly payment. A homeowner may be eligible to receive 

additional assistance after reemployment. One-time 

reinstatement assistance may be available for homeowners 

who have regained employment and can afford their 

monthly mortgage payments but are unable to cure their 

mortgage delinquency.

• Mortgage Reinstatement Assistance – Provides assistance 

to reinstate a delinquent mortgage.

• Recast/Modification – Provides principal reduction with a 

loan recast or permanent modification to create an 

affordable mortgage payment. Principal curtailment may be 

available for severely underwater homeowners who are 

current on their mortgage payments.

RECENT ACTIVITY:

• In September, Georgia launched a new program component 

to provide principal curtailment assistance to eligible 

underwater borrowers.

• Georgia has drawn approximately $194.0 million from 

Treasury as of September 30, 2016.

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$127.8 million $158.0 million 23.6% 4.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,083 8,415 18.8% 3.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.6% 5.1% 3.4% 2.7%

For more details, visit: https://www.homesafegeorgia.com 

All information as of September 30, 2016
ILLINOIS

Illinois Hardest Hit Program

Total Allocation = $715.1 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides

monthly mortgage payment and reinstatement assistance on 

behalf of homeowners who are unable to afford their monthly 

payment due to an eligible financial hardship. 

• Mortgage Resolution Fund Program (Closed) – Through a 

public-private partnership, provides funds to facilitate 

modifications of delinquent and distressed mortgages 

purchased from lenders. Modified/rehabilitated loans are 

subsequently sold. This buy-and-modify program targets six 

Chicago metro area counties.

• Home Preservation Program – Provides principal reduction 

with reinstatement assistance (as needed) to facilitate a 

refinance, recast, or permanent mortgage modification.

• Blight Reduction Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state.

• Down Payment Assistance Program – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

RECENT ACTIVITY:

• In the third quarter, Illinois reopened its Homeowner 

Emergency Loan and Home Preservation programs.

• Illinois has drawn approximately $445.6 million from 

Treasury as of September 30, 2016.

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$331.4 million $368.3 million 11.1% 3.2%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

13,928 17,751 27.4% 8.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.9% 5.5% 4.4% 3.5%

For more details, visit: https://www.illinoishardesthit.org

All information as of September 30, 2016

* These figures have been adjusted beginning in Q3 2016 to account for 

borrowers receiving assistance under Down Payment Assistance Programs
INDIANA

Indiana Hardest Hit Fund

Total Allocation = $283.7 million

PROGRAMS:

• Unemployment Bridge Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

unemployed homeowners. Reinstatement-only assistance may 

be available for recently re-employed homeowners.

• Recast/Modification Program – Provides principal reduction 

and/or reinstatement assistance as a one-time payment to 

facilitate a loan recast or permanent loan modification.

• Transition Assistance Program – Provides relocation 

assistance for homeowner expenses and the extinguishment of 

subordinate liens associated with a short sale or deed-in-lieu.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state.

RECENT ACTIVITY:

• In the third quarter, Indiana saw an increase in production 

through its Blight Elimination Program; BEP demolished and 

greened over 200 properties and disbursed nearly $3.6 million 

to prevent avoidable foreclosures and stabilize neighborhoods. 

• Indiana has drawn approximately $196.6 million from 

Treasury as of September 30, 2016.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$85.5 million $139.5 million 63.1% 10.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,306 8,344 32.3% 5.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

4.5% 4.5% 4.1% 3.3%

For more details, visit: http://www.877gethope.org.

All information as of September 30, 2016
KENTUCKY

Protect My Kentucky Home

Total Allocation = $207.0 million

PROGRAMS:

• Kentucky Unemployment Bridge Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed, substantially underemployed, or 

qualified disabled homeowners who are delinquent on their 

mortgages. Assistance may be provided for up to two months 

following re-employment or substantially increased 

employment. 

• Hardest Hit Fund Down Payment Assistance Program –

Prevents foreclosures by stimulating home purchase activity 

and stabilizing neighborhoods in targeted areas that continue 

to demonstrate high levels of housing market distress.

RECENT ACTIVITY:

• In the third quarter, Kentucky launched a new round of Down 

Payment Assistance Program (DAP) funding. Within 18 days 

of opening the portal, all new funds available were 

committed to homebuyers.

• Kentucky has drawn approximately $144.5 million from 

Treasury as of September 30, 2016.

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$94.8 million $123.1 million 30.0% 4.3%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,296 9,083 24.5% 2.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.4% 5.0% 3.7% 3.1%

For more details, visit: http://www.protectmykyhome.org

All information as of September 30, 2016

* These figures have been adjusted beginning in Q3 2016 to account for 

borrowers receiving assistance under Down Payment Assistance Programs
MICHIGAN

Step Forward Michigan

Total Allocation = $761.2 million

PROGRAMS:

• Principal Curtailment Program (Closed) – Provides 

principal reduction with a 1:1 match from the servicer or 

lender to facilitate a mortgage modification. 

• Loan Rescue Program – Provides assistance to reinstate a 

delinquent mortgage; funds may be applied to delinquent 

escrow fees, property taxes, and other arrearage fees.

• Unemployment Mortgage Subsidy Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed and underemployed homeowners. 

Homeowners must contribute a portion of their monthly 

income. 

• Modification Plan Program – Provides assistance to facilitate 

a mortgage modification or recast.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties in targeted 

municipalities throughout the state. 

RECENT ACTIVITY:

• In the third quarter, Michigan expanded its Blight Elimination 

Program to allow select jurisdictions throughout the state to 

apply for BEP funding. 

• Michigan has drawn approximately $498.6 million from 

Treasury as of September 30, 2016.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$303.6 million $410.3 million 35.1% 4.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

28,015 32,612 16.4% 3.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.1% 4.6% 2.5% 1.9%

For more details, visit: https://www.stepforwardmichigan.org

All information as of September 30, 2016
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $144.3 million

PROGRAMS: 

Mississippi Home Saver includes the following:

• Mortgage Payment Assistance – Provides reinstatement and 

monthly mortgage payment assistance on behalf of 

homeowners who are at risk of default or losing their home 

due to unemployment or other eligible financial hardship.

• Mortgage Payment Assistance with Education (Closed) –

Provides additional assistance for homeowners who enroll in 

an eligible education program to improve their job skills. 

Borrowers in distressed counties may be eligible for additional 

assistance following completion of the educational program. 

• Reinstatement Only – Provides reinstatement assistance for 

homeowners who have recently regained employment. 

Assistance may be applied to delinquent mortgage payments, 

property taxes, and/or escrow shortage fees.

RECENT ACTIVITY:

• In the third quarter, the Mississippi Home Saver program 

continued to assist homeowners at risk of losing their home 

due to unemployment or another eligible financial hardship.

• Mississippi has drawn approximately $89.2 million from 

Treasury as of September 30, 2016.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$58.0 million $72.7 million 25.3% 4.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,472 3,973 14.4% 3.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

6.4% 6.0% 4.7% 4.0%

For more details, visit: http://www.mshomesaver.com

All information as of September 30, 2016
NEVADA

Nevada Hardest Hit Fund

Total Allocation = $202.9 million

PROGRAMS:

• Principal Reduction Program – Provides principal reduction 

assistance to facilitate a mortgage modification, recast, or a 

HARP or other eligible refinance. Principal curtailment may be 

available for severely underwater homeowners who are current 

on their mortgage payments.

• Second Mortgage Reduction Plan – Reduces or extinguishes a 

second mortgage balance to facilitate a refinance or modification 

of the primary mortgage or a short sale.

• Short Sale Acceleration Program (Closed) – Provides 

transition assistance for a homeowner who has been lenderapproved for a short sale or deed-in-lieu.

• Mortgage Assistance Program – Provides reinstatement 

assistance on behalf of homeowners with an employment-related 

hardship.

• Mortgage Assistance Program Alternative (Closed) – Provides 

monthly mortgage payment and reinstatement assistance for 

homeowners on a fixed income due to retirement or disability. 

Homeowners must contribute a minimum partial payment.

RECENT ACTIVITY:

• In the third quarter, Nevada continued to improve its operational 

capacity, signing contracts with new vendors as part of the 

broader efforts to improve HHF programs and effectively assist 

Nevada homeowners.

• Nevada has drawn approximately $112.0 million from Treasury 

as of September 30, 2016.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$87.4 million $91.7 million 4.9% 1.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,320 5,417 1.8% 0.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

6.6% 5.8% 4.6% 3.6%

For more details, visit: http://www.nahac.org 

All information as of September 30, 2016
NEW JERSEY

New Jersey HomeKeeper Program – Closed to New Applicants

Total Allocation = $415.1 million

PROGRAMS:

• New Jersey HomeKeeper Program – Provides reinstatement 

and monthly mortgage payment assistance on behalf of 

unemployed and underemployed homeowners at risk of 

imminent default. Homeowners must also be in the process of 

seeking work or job training that will enable them to resume 

making their mortgage payments in full.

• New Jersey Home Saver Program – Provides principal 

reduction and/or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

RECENT ACTIVITY:

• In the third quarter, New Jersey continued to provide principal 

reduction and/or reinstatement assistance to eligible borrowers 

through its Home Saver Program. New Jersey plans to re-open 

their HomeKeeper program in the fourth quarter of this year.

• New Jersey has drawn approximately $270.5 million from 

Treasury as of September 30, 2016.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$226.2 million $240.0 million 6.1% 1.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,005 6,156 2.5% 0.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.2% 5.3% 9.2% 8.2%

For more details, visit: http://www.njhomekeeper.gov 

All information as of September 30, 2016
NORTH CAROLINA

NC Foreclosure Prevention Fund

Total Allocation = $706.5 million

PROGRAMS: 

• Mortgage Payment Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of unemployed 

and other eligible homeowners who are unable to afford their 

monthly mortgage payments. Reinstatement is available for 

eligible homeowners who have regained employment and can 

afford their monthly payment provided they can bring their 

mortgage current.

• Second Mortgage Refinance Program – Provides assistance for 

the extinguishment of second mortgages to reduce the 

homeowner’s monthly mortgage payment and to facilitate a first 

mortgage refinance or HAMP modification.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible mortgages purchased in a 

distressed asset sale. Principal reduction may be matched with 

non-program funds to facilitate a mortgage modification.

• Principal Reduction Recast/Lien Extinguishment for 

Unaffordable Mortgages Program – Provides principal 

reduction assistance to facilitate a recast or fully extinguish lowbalance liens for eligible homeowners.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods 

in targeted areas that continue to demonstrate high levels of 

housing market distress.

RECENT ACTIVITY:

• In the third quarter, North Carolina made changes to its principal 

reduction program in order to more effectively provide 

reinstatement assistance and extinguish liens for borrowers with 

eligible financial hardships.

• North Carolina has drawn approximately $542.7 million from 

Treasury as of September 30, 2016.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$336.3 million $409.6 million 21.8% 3.7%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

20,544 23,876 16.2% 2.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.7% 4.7% 2.9% 2.4%

For more details, visit: http://www.ncforeclosureprevention.gov 

All information as of September 30, 2016

* These figures have been adjusted beginning in Q3 2016 to account for 

borrowers receiving assistance under Down Payment Assistance Programs
OHIO

Save the Dream Ohio

Total Allocation = $762.2 million

PROGRAMS: 

• Rescue Payment Assistance Program – Provides 

reinstatement assistance to cure a mortgage delinquency.

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Modification with Contribution Assistance (Closed) –

Provides assistance to facilitate a permanent mortgage 

modification.

• Lien Elimination Assistance (Closed) – Provides assistance to 

extinguish mortgage liens to create an affordable payment.

• Transition Assistance Program (Closed) – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• Homeowner Retention Assistance (Closed)– Provides 

assistance to extinguish subordinate liens and ancillary property 

expenses.

• Homeowner Stabilization Assistance Program (Closed) –

Leverages HHF funds and private capital to facilitate 

modifications for eligible mortgages purchased in a distressed 

asset sale.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance of 

vacant and abandoned blighted residential properties.

RECENT ACTIVITY:

• In the third quarter, reopened its Mortgage Payment and Rescue 

Payment assistance programs.

• Ohio has drawn approximately $540.4 million from Treasury as 

of September 30, 2016.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$429.0 million $467.0 million 8.8% 2.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,532 24,533 0.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

4.6% 4.8% 4.3% 3.6%

For more details, visit: http://ohiohome.org/savethedream 

All information as of September 30, 2016
OREGON

Oregon Homeownership Stabilization Initiative

Total Allocation = $314.6 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Loan Preservation Assistance Program – Provides 

reinstatement for delinquent mortgages, property taxes or other 

eligible property charges. Mortgage reinstatement under LPA 

may be combined with Mortgage Payment Assistance. 

• Loan Refinancing Assistance Pilot Project – Provides for the 

purchase of underwater mortgages at a discounted price to 

facilitate a modification, refinance, or a short sale. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners 

statewide to facilitate a refinance with lower monthly mortgage 

payments.

RECENT ACTIVITY: 

• In the third quarter, Oregon reopened its Mortgage Payment 

Assistance and Loan Preservation Assistance programs. 

• Oregon has drawn approximately $280.0 million from 

Treasury as of September 30, 2016.

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$196.6 million $204.2 million 3.9% 0.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

11,770 11,809 0.3% 0.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.7% 5.5% 3.0% 2.2%

For more details, visit: http://www.oregonhomeownerhelp.org 

All information as of September 30, 2016
RHODE ISLAND

Hardest Hit Fund Rhode Island

Total Allocation = $116.0 million

PROGRAMS: 

• Loan Modification Assistance – Provides principal reduction 

assistance to facilitate a recast, mortgage modification, or 

curtailment.

• Temporary and Immediate Homeowner Assistance – Provides 

assistance to reinstate a delinquent mortgage.

• Moving Forward Assistance – Provides relocation assistance and 

the extinguishment of liens associated with a short sale or deed-inlieu. 

• Mortgage Payment Assistance – Unemployment Program –

Provides monthly mortgage payment and reinstatement assistance 

on behalf of unemployed or underemployed homeowners. 

Homeowners must contribute a minimum partial payment each 

month.

• Principal Reduction Program (Closed) – Provides principal 

reduction for underwater homeowners with a 1:1 match from the 

servicer or lender to facilitate a mortgage modification.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity for distressed properties in 

targeted areas that continue to demonstrate high levels of housing 

market distress.

RECENT ACTIVITY:

• In the third quarter, Rhode Island to reopened its HHFRI portal and 

relaunched its Loan Modification Assistance, Temporary and 

Immediate Homeowner Assistance, Moving Forward Assistance, 

and Mortgage Payment Assistance – Unemployment programs.

• Rhode Island has drawn approximately $79.4 million from 

Treasury as of September 30, 2016.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$64.4 million $66.8 million 3.6% 1.9%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,075 3,173 3.2% 2.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.6% 5.6% 5.0% 3.8%

For more details, visit: http://www.hhfri.org

All information as of September 30, 2016

* These figures have been adjusted beginning in Q3 2016 to account for 

borrowers receiving assistance under Down Payment Assistance Programs
SOUTH CAROLINA

South Carolina Homeownership and Employment Lending Program (SC HELP)

Total Allocation = $317.5 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides monthly 

mortgage payment assistance for eligible households that are 

experiencing a temporary reduction in income or financial 

hardship.

• Direct Loan Assistance Program – Provides reinstatement 

assistance, principal reduction, or forbearance 

reduction/elimination for homeowners who experienced a 

financial hardship but have regained the ability to pay their 

mortgage.

• Modification Assistance Program – Provides principal 

reduction assistance to facilitate a recast or fully extinguish 

low-balance liens for eligible homeowners.

• Property Disposition Assistance Program – Provides 

assistance to offset relocation expenses incurred in 

conjunction with a short sale or deed-in-lieu.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties.

RECENT ACTIVITY:

• In the third quarter, the SC HELP program continued to assist 

homeowners at risk of losing their home due to 

unemployment or another eligible financial hardship.

• South Carolina has drawn approximately $225.0 million from 

Treasury as of September 30, 2016.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$151.7 million $183.7 million 21.1% 4.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

9,956 11,458 15.1% 3.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.5% 4.9% 3.5% 2.9%

For more details, visit: http://www.schelp.gov

All information as of September 30, 2016
TENNESSEE

Keep My Tennessee Home – Closed to New Applicants

Total Allocation = $302.1 million

PROGRAMS:

• Hardest Hit Fund Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of 

homeowners who are delinquent on their mortgages as a 

result of unemployment, substantial underemployment, 

death of a spouse, or divorce. Re-employed homeowners 

may qualify for stand-alone reinstatement assistance. 

• Blight Elimination Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties.

RECENT ACTIVITY:

• In the third quarter, Tennessee continued to receive 

applications from potential partners for its Blight 

Elimination Program (BEP). 

• Tennessee has drawn approximately $206.3 million from 

Treasury as of September 30, 2016.

23

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2015

Cumulative 

Program Funds 

Disbursed

September 2016

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$164.4 million $179.5 million 9.2% 1.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2015

Cumulative 

Homeowners 

Assisted 

September 2016

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,355 7,355 0.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2015

Unemployment 

Rate 

September 2016

90+ Delinquency 

September 2015

90+ Delinquency 

September 2016

5.6% 4.6% 3.2% 2.5%

For more details, visit: http://www.keepmytnhome.org

All information as of September 30, 2016