HARDEST HIT FUND

Third Quarter 2015 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 Disbursed: Funds HFAs have disbursed on behalf of homeowners participating in HHF programs

Funds Committed: Funds HFAs have committed to homeowners who have been approved to participate in 

HHF programs that are anticipated to be disbursed over the duration of their participation; 

HFAs vary as to when and how they capture and report funds as committed

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

programs

Assistance Provided: Amount of financial assistance provided to homeowners under HHF programs

(equal to funds disbursed)

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

• The Hardest Hit Fund (HHF) provides $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.

• 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: $7.6 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, 2015, there were 77 active programs across 

the 19 HFAs. Approximately 64 percent of total program funds 

have been targeted to help un- and underemployed homeowners, 

primarily through reinstatement and programs that help 

homeowners pay their mortgage while looking for work.

• In the aggregate, states reported committing $5.3 billion of 

their program funds (79% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$3.4 billion

(50.9% of

program cap)

$4.5 billion

(67.2% of

program cap)

31.2% 5.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

207,511 241,775 16.5% 3.1%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

5.9% 5.1% 4.7% 3.6%

www.treasury.gov/HHF

All information as of September 30, 2015
ALABAMA

Alabama Hardest Hit Fund

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides 

monthly mortgage payments and reinstatement assistance 

paid to the servicer on behalf of unemployed or 

underemployed homeowners.

• 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 a 

one-time payment to facilitate a loan recast or 

modification by reducing the outstanding principal 

balance, reinstating a delinquent loan, and/or paying off 

escrow shortage fees or arrearages. The modification 

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 September, Alabama continued marketing efforts 

throughout the state.

• Alabama reported it had committed approximately 

$37.7 million on behalf of program participants as of 

September 30, 2015.

4

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$28.7 million

(21.2% of

program cap)

$34.5 million

(25.5% of

program cap)

20.3% 4.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,601 4,267 18.5% 4.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.3% 6.0% 4.6% 3.7%

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

All information as of September 30, 2015
ARIZONA

Save Our Home Arizona

Total Allocation = $267.8 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 non-delinquent, 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.

RECENT ACTIVITY:

• Arizona continued to market its programs and promote 

principal reduction assistance to underwater homeowners in 

the third quarter. 

• Arizona reported it had committed approximately 

$133.7 million on behalf of program participants as of 

September 30, 2015.

5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$78.8 million

(33.9% of

program cap)

$108.3 million

(46.5% of

program cap)

37.4% 7.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,313 4,065 22.7% 4.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.6% 6.3% 2.3% 1.7%

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

All information as of September 30, 2015
CALIFORNIA

Keep Your Home California

Total Allocation = $1.975 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 who have received the maximum 

benefit from their reverse mortgages.

RECENT ACTIVITY:

• In September, California reallocated funds among programs 

to offer assistance to more homeowners with delinquent 

mortgages.

• California reported it had committed approximately 

$1.243 billion on behalf of program participants as of 

September 30, 2015.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

June 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$807.9 million

(44.2% of

program cap)

$1.14 billion

(64.1% of

program cap)

41.2% 9.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

43,542 54,010 24.0% 4.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

7.3% 5.9% 2.6% 1.9%

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

All information as of September 30, 2015
DISTRICT OF COLUMBIA

HomeSaver Program – Closed to New Applicants

Total Allocation = $20.7 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:

• The District of Columbia continues to provide tax lien 

extinguishment assistance. DC closed its other 

HomeSaver program components to new applicants in 

November 2013.

• The District of Columbia reported it had committed 

approximately $15.3 million on behalf of program 

participants as of September 30, 2015.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$13.2 million

(79.7% of

program cap)

$13.7 million

(82.9% of

program cap)

4.0% 0.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

695 705 1.4% 0.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

7.8% 6.7% 5.3% 4.3%

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

All information as of September 30, 2015
FLORIDA

Florida Hardest-Hit Fund

Total Allocation = $1.057 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 September, Florida expanded eligibility under its 

Modification Enabling Pilot and Principal Reduction 

programs to reach more homeowners in need of assistance.

• Florida reported it had committed approximately 

$623.2 million on behalf of program participants as of 

September 30, 2015.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$417.1 million

(43.8% of

program cap)

$543.0 million

(57.0% of

program cap)

30.2% 4.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

19,761 24,071 21.8% 3.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

5.8% 5.2% 9.0% 5.6%

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

All information as of September 30, 2015
GEORGIA

HomeSafe Georgia

Total Allocation = $339.3 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. Onetime 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.

RECENT ACTIVITY:

• In July, Georgia adjusted its hardship eligibility criteria 

in its Mortgage Payment Assistance and Mortgage 

Reinstatement Assistance programs.

• Georgia reported it had committed approximately 

$156.7 million on behalf of program participants as of 

September 30, 2015.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$92.9 million

(31.8% of

program cap)

$127.8 million

(43.8% of

program cap)

37.6% 6.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,556 7,083 27.5% 5.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.9% 5.8% 4.3% 3.4%

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

All information as of September 30, 2015
ILLINOIS

Illinois Hardest Hit Program – HELP Program Closed to New Applicants

Total Allocation = $445.6 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

unemployed and underemployed homeowners. Homeowners 

must contribute a portion of their monthly income.

• Mortgage Resolution Fund Program – Through a publicprivate partnership, provides funds to facilitate modifications of 

delinquent and distressed mortgages purchased from lenders. 

Modified/rehabilitated loans are subsequently sold. This buyand-modify program targets six Chicago metro area counties.

• Home Preservation Program – Provides principal reduction or 

reinstatement assistance 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 July, Illinois received approval to implement a new Down 

Payment Assistance Program to increase market activity and 

prevent avoidable foreclosures in neighborhoods struggling to 

recover.

• As of September 30, 2015, Illinois reported it had committed 

approximately $347.2 million on behalf of program 

participants and an additional $5.4 million under the Blight 

Reduction Program.

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$279.2 million

(73.2% of

program cap)

$331.4 million

(86.9% of

program cap)

18.7% 1.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

13,609 13,928 2.3% 0.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.4% 5.4% 6.0% 4.4%

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

All information as of September 30, 2015
INDIANA

Indiana Hardest Hit Fund

Total Allocation = $221.7 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:

• Indiana’s program partners increased demolition and 

greening activities under the Blight Elimination Program 

in the third quarter. 

• As of September 30, 2015, Indiana reported it had 

committed an estimated $127.5 million on behalf of 

program participants and an additional $68.5 million 

under the Blight Elimination Program.

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$48.7 million

(25.4% of

program cap)

$85.5 million

(44.7% of

program cap)

75.7% 14.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,051 6,306 55.7% 10.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

5.8% 4.4% 5.1% 4.1%

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

All information as of September 30, 2015
KENTUCKY

Protect My Kentucky Home

Total Allocation = $148.9 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 reemployment or substantially increased employment. 

RECENT ACTIVITY:

• In the third quarter, Kentucky explored potential 

operational improvements in order to reach out to more 

homeowners in need of assistance.

• Kentucky reported it had committed approximately 

$160.7 million on behalf of program participants as 

of September 30, 2015.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$71.5 million

(53.6% of

program cap)

$94.8 million

(72.3% of

program cap)

32.4% 6.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,030 7,296 21.0% 4.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

5.8% 5.0% 4.6% 3.7%

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

All information as of September 30, 2015
MICHIGAN

Step Forward Michigan

Total Allocation = $498.6 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 16 cities throughout the state.

RECENT ACTIVITY:

• In the third quarter, Michigan expanded outreach to 

residents at risk of foreclosure due to delinquent property 

taxes.

• As of September 30, 2015, Michigan reported it had 

committed approximately $235.5 million on behalf of 

program participants and an additional $175 million 

under the Blight Elimination Program.

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$184.0 million

(42.0% of

program cap)

$303.6 million

(67.2% of

program cap)

65.0% 10.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

22,849 28,015 22.6% 4.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.7% 5.0% 3.4% 2.5%

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

All information as of September 30, 2015
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $101.9 million

PROGRAMS: 

Mississippi Home Saver includes the following:

• Mortgage Payment Assistance – Provides reinstatement 

and monthly mortgage payment assistance on behalf of 

unemployed or substantially underemployed homeowners 

who are at risk of default or losing their home.

• Mortgage Payment Assistance with Education –

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, Mississippi continued to send 

marketing materials to encourage more unemployed 

homeowners to apply to the Home Saver Program.

• Mississippi reported it had committed approximately 

$82.0 million on behalf of program participants as of 

September 30, 2015.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$38.4 million

(44.2% of

program cap)

$58.0 million

(66.9% of

program cap)

51.2% 8.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,738 3,472 26.8% 3.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

7.3% 6.1% 5.7% 4.7%

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

All information as of September 30, 2015
NEVADA

Nevada Hardest Hit Fund

Total Allocation = $194.0 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 re-launched its programs and 

partnered with participating servicers on marketing initiatives 

designed to reach out to Nevada borrowers in need of assistance.

• Nevada reported it had committed approximately $87.6 

million on behalf of participants as of September 30, 2015.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$84.8 million

(50.2% of

program cap)

$87.4 million

(51.7% of

program cap)

3.0% 0.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,139 

(revised estimate)

5,320 3.5% 0.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

7.3% 6.7% 6.3% 4.6%

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

All information as of September 30, 2015
NEW JERSEY

New Jersey HomeKeeper Program – Closed to New Applicants

Total Allocation = $300.5 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 August, New Jersey launched Home Saver, a new 

principal reduction program designed to assist eligible 

homeowners struggling with unaffordable payments 

and/or underwater mortgages. HomeKeeper remains 

closed to new applicants.

• New Jersey reported it had committed approximately 

$243.9 million on behalf of program participants as of 

September 30, 2015.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$191.5 million

(73.1% of

program cap)

$226.2 million

(86.4% of

program cap)

18.1% 1.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,890 6,005 2.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.4% 5.6% 11.2% 9.2%

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

All information as of September 30, 2015
NORTH CAROLINA

NC Foreclosure Prevention Fund

Total Allocation = $482.8 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. Homeowners who are in job training/education 

programs may receive an extended term of assistance. 

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 low-balance 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 July, North Carolina received approval to implement a new Down 

Payment Assistance Program to increase market activity and prevent 

avoidable foreclosures in neighborhoods struggling to recover.

• North Carolina reported it had committed approximately $361.0 

million on behalf of program participants as of September 30, 

2015.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$274.5 million

(65.3% of

program cap)

$336.3 million

(80.8% of

program cap)

22.5% 4.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

17,467 20,544 17.6% 3.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

5.8% 5.8% 3.7% 2.9%

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

All information as of September 30, 2015
OHIO

Save the Dream Ohio – Closed to New Applicants

Total Allocation = $570.4 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 – Provides 

assistance to facilitate a permanent mortgage modification.

• Lien Elimination Assistance – Provides assistance to 

extinguish mortgage liens to create an affordable payment.

• Transition Assistance Program – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• Homeowner Retention Assistance – Provides assistance to 

extinguish subordinate liens and ancillary property expenses.

• Homeowner Stabilization Assistance Program – 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:

• Ohio closed its portal to new applicants in April 2014, but 

continues to disburse assistance on behalf of participants.

• As of September 30, 2015, Ohio reported it had committed 

approximately $431.6 million on behalf of program 

participants and an additional $66.5 million under the 

Neighborhood Initiative Program.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$347.2 million

(67.6% of

program cap)

$429.0 million

(83.8% of

program cap)

23.6% 2.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

22,920 24,532 7.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

5.3% 4.5% 5.4% 4.3%

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

All information as of September 30, 2015
OREGON

Oregon Homeownership Stabilization Initiative – MPA and LPA Programs Closed to New Applicants

Total Allocation = $220.0 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides 

monthly mortgage payment assistance on behalf of 

unemployed and underemployed homeowners.

• Loan Preservation Assistance Program – Provides 

reinstatement assistance that may be combined with 

Mortgage Payment Assistance. Additional funds may be 

available for those receiving stand-alone reinstatement.

• 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. 

LRAPP is available in Crook, Deschutes, Jackson, 

Jefferson, and Josephine Counties. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners 

statewide to facilitate a refinance with lower monthly 

mortgage payments.

RECENT ACTIVITY: 

• Although Oregon closed its Mortgage Payment and Loan 

Preservation Assistance Programs to new applicants in 

September 2014, it continues to remit monthly payments on 

behalf of participants. LRAPP and RAHAPP remain 

available to eligible homeowners.

• Oregon reported it had committed approximately 

$220.7 million on behalf of program participants as of 

September 30, 2015.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$165.2 million

(91.3% of

program cap)

$196.6 million

(108.7% of

program cap)

19.0% 2.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

11,332 11,770 3.9% 0.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.9% 6.2% 4.2% 3.0%

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

All information as of September 30, 2015
RHODE ISLAND

Hardest Hit Fund Rhode Island – Closed to New Applicants

Total Allocation = $79.3 million

PROGRAMS: 

• Loan Modification Assistance – Provides assistance to 

facilitate mortgage modifications for homeowners who are 

ineligible for HAMP or other modifications. Homeowners 

must contribute a minimum partial payment each month.

• Temporary and Immediate Homeowner Assistance –

Provides reinstatement or other mortgage-related default 

assistance, or monthly mortgage payments on behalf of 

homeowners experiencing a temporary loss of income. 

Homeowners must contribute a minimum partial payment 

each month.

• Moving Forward Assistance – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• 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 – Provides principal 

reduction for underwater homeowners with a 1:1 match from 

the servicer or lender to facilitate a mortgage modification.

RECENT ACTIVITY:

• Hardest Hit Fund Rhode Island is closed to new applicants. 

Rhode Island continues to disburse assistance on behalf of 

participating homeowners.

• Rhode Island reported it had committed approximately 

$67.5 million on behalf of program participants as of 

September 30, 2015.

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$61.4 million

(90.5% of

program cap)

$64.4 million

(95.1% of

program cap)

5.0% 0.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,075 3,075 0.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

7.2% 5.4% 6.1% 5.0%

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

All information as of September 30, 2015
SOUTH CAROLINA

South Carolina Homeownership and Employment Lending Program (SC HELP)

Total Allocation = $295.4 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides 

monthly mortgage payment assistance for unemployed 

and underemployed homeowners.

• 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 September, South Carolina expanded its Modification 

Assistance Program to better target affordability through 

loan recast, and to offer lien extinguishment. 

• As of September 30, 2015, South Carolina reported it 

had committed approximately $177.1 million on 

behalf of program participants and an additional $35 

million under the Blight Reduction Program.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$119.0 million

(49.3% of

program cap)

$151.7 million

(62.8% of

program cap)

27.5% 5.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

8,419 9,956 18.3% 3.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.6% 5.7% 4.5% 3.5%

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

All information as of September 30, 2015
TENNESSEE

Keep My Tennessee Home – Closed to New Applicants

Total Allocation = $217.3 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 standalone reinstatement assistance. 

• Blight Elimination Program – Prevents 

foreclosures through the demolition, greening, and 

ongoing maintenance of vacant and abandoned 

blighted residential properties.

RECENT ACTIVITY:

• In September, Tennessee received approval to 

implement a new Blight Elimination Program to 

prevent avoidable foreclosures by eliminating 

vacant, abandoned, blighted properties.

• Tennessee reported it had committed 

approximately $185.7 million on behalf of 

program participants as of September 30, 2015.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2014

Cumulative 

Program Funds 

Disbursed

September 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$123.5 million

(64.1% of

program cap)

$164.4 million

(85.3% of

program cap)

33.1% 4.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2014

Cumulative 

Homeowners 

Assisted 

September 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,211 7,355 2.0% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2014

Unemployment 

Rate 

September 2015

90+ Delinquency 

September 2014

90+ Delinquency 

September 2015

6.6% 5.7% 4.1% 3.2%

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

All information as of September 30, 2015