HARDEST HIT FUND

Second Quarter 2013 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

Disbursed: Funds disbursed on behalf of homeowners participating in HHF programs

Committed: Funds 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) 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.

• 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 principal reduction, 

reinstatement, short sale/transition assistance, modification 

assistance, note purchase, blight elimination, and mortgage 

payment programs.

• As of June 30, 2013, there were 63 active programs across 

the 19 HFAs. Approximately 67 percent of total program 

funds have been targeted to help unemployed borrowers, 

primarily through reinstatement and programs that help 

homeowners pay their mortgage while looking for work.

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

HFAs)

$511.3 million

(7.6% of program cap)

$1.7 billion

(24.7% of program 

cap)

222.7% $2.4 billion

(36.0% of program 

cap)

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

58,519 126,858 116.8% 15.5%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.2% 7.6% 7.3% 5.9%

www.treasury.gov/HHF

All information as of June 30, 2013

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

Q3

2010

Q4

2010

Q1

2011

Q2

2011

Q3

2011

Q4

2011

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Millions

Homeowners Assisted and Assistance Provided

Homeowners Assisted Assistance Provided ($ Millions)
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 mortgage 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.

RECENT ACTIVITY:

• In April, Alabama introduced the Short Sale Assistance 

and Loan Modification Assistance programs, and 

increased the maximum assistance available under the 

Unemployment Assistance Program.

4

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$12.9 million

(9.5% of program cap)

$20.9 million

(15.5% of program 

cap)

62.8% $29.7 million

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,886 2,741 45.3% 10.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

7.6% 6.5% 5.4% 5.0%

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

All information as of June 30, 2013
ARIZONA

Save Our Home Arizona

Total Allocation = $267.8 million

PROGRAMS:

• Principal Reduction Assistance – Provides principal 

reduction to facilitate a mortgage modification or a HARP 

or other eligible refinance.

• Second Mortgage Assistance – Provides funds to 

eliminate second mortgages, to facilitate a modification 

of the primary mortgage, or to enable 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:

• In June, Arizona increased the maximum assistance 

available for their Second Mortgage Assistance program, 

expanded their Principal Reduction and Second Mortgage 

Assistance programs, and introduced a lease-to-own 

option under their Short Sale Assistance program.

5

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$3.8 million

(1.6% of program cap)

$30.3 million

(12.9% of program 

cap)

704.4% $54.9 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

703 1,916 172.5% 23.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.4% 8.0% 5.9% 3.2%

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

All information as of June 30, 2013
CALIFORNIA

Keep Your Home California

Total Allocation = $1.975 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program –

Provides monthly mortgage payment and reinstatement 

assistance on behalf of unemployed or underemployed 

homeowners who are currently receiving unemployment 

benefits and are delinquent on their mortgage.

• Mortgage Reinstatement Assistance Program – Provides 

assistance to reinstate a delinquent mortgage; may be used 

to enable a loan modification.

• Principal Reduction Program – Provides principal 

reduction with a loan recast or modification with a rate 

reduction; program may be used with HAMP-PRA.

• Transition Assistance Program – Provides relocation 

assistance to cover expenses associated with a deed-in-lieu 

or short sale.

• Innovation Fund Programs – CA also offers local 

programs, including the NeighborWorks® Sacramento 

Short Sale Gateway Program, the Los Angeles Housing 

Department Principal Reduction Program, and the 

Community 2nd Mortgage Principal Reduction Program. 

RECENT ACTIVITY:

• In June, California increased the maximum duration and 

amount of unemployment mortgage assistance available, 

adjusted the target income criterion for borrowers, and 

expanded the Community 2nd Mortgage Principal 

Reduction Program to include HELOCs.

6

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$100.9 million

(5.5% of program cap)

$381.6 million

(20.9% of program 

cap)

278.2% $434.5 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

10,501 26,242 149.9% 13.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

10.6% 8.5% 6.2% 3.9%

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

All information as of June 30, 2013
DISTRICT OF COLUMBIA

HomeSaver Program

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 

application 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. 

RECENT ACTIVITY:

• The District of Columbia accepted and confirmed 

assistance for their first underemployed applicants since 

expanding their program guidelines in early 2013.

7

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$4.8 million

(28.1% of program 

cap)

$9.5 million

(55.3% of program 

cap)

97.3% $11.6 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

351 537 53.0% 8.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.1% 8.5% 6.2% 5.7%

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

All information as of June 30, 2013
FLORIDA

Florida Hardest-Hit Fund

Total Allocation = $1.057 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program –

Provides monthly payment assistance on behalf of 

unemployed or underemployed homeowners who are 

unable to afford their monthly payment. 

• Mortgage Loan Reinstatement Program – Provides 

assistance to reinstate a delinquent mortgage.

• 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.

RECENT ACTIVITY:

• Florida prepared to launch their new Modification 

Enabling Pilot Program on July 1st, 2013.

8

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$27.9 million

(2.9% of program cap)

$132.9 million

(14.0% of program 

cap)

376.6% $255.3 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

5,559 9,745 75.3% 13.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.8% 7.1% 17.5% 13.5%

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

All information as of June 30, 2013
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. 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. 

RECENT ACTIVITY:

• From March to June 2013, Georgia launched their 2013 

outreach plan, participating in 37 joint events and 

promotions throughout the state with servicing partners, 

Congressional representatives, faith-based organizations, 

businesses, and the Georgia Department of Labor to 

promote HomeSafe Georgia.

9

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$7.2 million

(2.3% of program cap)

$42.9 million

(13.7% of program cap) 495.6% $77.3 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

1,243 3,552 185.8% 23.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.1% 8.5% 7.1% 5.5%

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

All information as of June 30, 2013
ILLINOIS

Illinois Hardest Hit Program

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; may be used with HAMP-UP.

• Mortgage Resolution Fund Program – Through a 

public-private partnership, provides funds to facilitate 

modifications for 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 or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

RECENT ACTIVITY:

• On April 1, 2013, Illinois increased the maximum limit of 

assistance through HHF HELP. In May 2013, MRF 

purchased two FHA DASP loan pools and reported 56 

new loan outcomes.

10

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012 

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$29.7 million

(7.8% of program cap)

$144.8 million

(38.0% of program cap) 388.2% $240.7 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

2,814 8,838 214.1% 23.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.0% 9.1% 10.3% 8.1%

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

All information as of June 30, 2013
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.

RECENT ACTIVITY:

• In April 2013, Indiana announced the expansion of their 

Hardest Hit Fund program, including increasing the 

unemployment mortgage assistance cap and introducing 

the new Recast/Modification and Transition Assistance 

programs.

11

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$6.4 million

(3.3% of program cap)

$18.8 million

(9.8% of program cap) 195.1% $36.2 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

867 1,859 114.4% 20.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.4% 8.4% 7.6% 6.2%

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

All information as of June 30, 2013
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 or substantially underemployed 

homeowners who are delinquent on their mortgages. 

Assistance may be provided for up to two months 

following re-employment or substantially increased 

employment. 

RECENT ACTIVITY:

• In June 2013, Kentucky instituted a monthly foreclosure 

intervention class at a regional Kentucky Career Center 

for unemployed and underemployed homeowners as part 

of their broader foreclosure prevention efforts for at-risk 

homeowners.

12

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$16.9 million

(12.6% of program cap)

$41.5 million

(31.0% of program cap) 145.8% $100.9 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

1,953 4,036 106.7% 13.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.3% 8.4% 6.4% 5.3%

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

All information as of June 30, 2013
MICHIGAN

Step Forward Michigan

Total Allocation = $498.6 million

PROGRAMS:

• Principal Curtailment Program – 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 homeowners. Homeowners must 

contribute a portion of their monthly income and be 

actively receiving unemployment benefits. 

• Modification Plan Program – Provides assistance to 

facilitate a mortgage modification or recast.

• Blight Elimination Program – In partnership with local 

governments and land banks, provides forgivable loans to 

demolish and green vacant and abandoned blighted 

residential properties in the cities of Detroit, Flint, Grand 

Rapids, Pontiac, and Saginaw.

RECENT ACTIVITY:

• Michigan received approval to implement their new Blight 

Elimination Program on June 6, 2013.

13

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$24.1 million

(5.4% of program cap)

$85.9 million

(19.3% of program cap) 256.9% $92.5 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

5,728 12,706 121.8% 18.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.3 8.7 5.9% 4.5%

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

All information as of June 30, 2013
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $101.9 million

PROGRAMS: HomeSaver 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 May and June 2013, Mississippi Home Saver saw an 

increase in application volumes due to a coordinated effort 

with Mississippi Employment Services to distribute letters 

to more than 9,000 individuals receiving unemployment 

benefits throughout the state.

14

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$4.9 million

(5.5% of program cap)

$16.5 million

(18.6% of program cap) 234.5% $25.2 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

557 1,516 172.2% 22.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.2% 9.0% 7.5% 6.3%

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

All information as of June 30, 2013
NEVADA

Nevada Hardest Hit Fund

Total Allocation = $194.0 million

PROGRAMS:

• Principal Reduction Program – Provides principal 

reduction to facilitate a HARP refinance or a mortgage 

modification with a 1:1 match by a servicer or lender.

• 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. Lenders must contribute $.40 per $.60 in program 

funds applied. Program may be used with HAMP.

• Short Sale Acceleration Program – Provides transition 

assistance for a homeowner who has been lender-approved 

for a short sale or deed-in-lieu.

• Mortgage Assistance Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

unemployed and substantially underemployed homeowners. 

Homeowners must contribute a minimum partial payment 

each month.

• Mortgage Assistance Program Alternative – 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 each month.

RECENT ACTIVITY:

• Nevada temporarily stopped receiving new applications in 

late 2012 due to high volumes. Nevada plans to re-open the 

application process for MAP in the summer of 2013.

15

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$8.8 million

(5.2% of program cap)

$69.9 million

(41.4% of program cap) 698.3% $77.5 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

1,263 4,316 241.7% 14.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

11.4% 9.6% 12.4% 9.4%

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

All information as of June 30, 2013
NEW JERSEY

New Jersey HomeKeeper Program

Total Allocation = $300.5 million

PROGRAMS:

• New Jersey HomeKeeper Program – Provides 

reinstatement and monthly mortgage payment assistance 

on behalf of unemployed or substantially 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.

RECENT ACTIVITY:

• Due to steady volumes of applications, New Jersey has 

slowed marketing efforts and worked to improve 

turnaround times for their existing pipeline of 

applications.

16

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$3.4 million

(1.3% of program cap)

$72.2 million

(27.6% of program cap) 2,053.7% $148.6 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

498 3,621 627.1% 38.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.6% 8.7% 12.7% 12.3%

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

All information as of June 30, 2013
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.

• Permanent Loan Modification Program – Provides 

principal reduction with the option to modify terms of 

loan.

RECENT ACTIVITY:

• In May 2013, North Carolina initiated their first “N.C. 

Hardest Hit Heroes” email newsletter to participating 

servicers, which highlights referral volumes by servicer 

each month.

17

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed 

(as reported by 

the HFA)

$69.6 million

(16.5% of program cap)

$168.2 million

(40.0% of program cap) 141.8% $225.0 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

6,815 12,537 84.0% 12.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.6% 8.8% 5.8% 4.6%

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

All information as of June 30, 2013
OHIO

Save the Dream Ohio

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 or 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 monthly 

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 – Provides 

funds to facilitate modifications for eligible mortgages 

purchased in a distressed asset sale. The modified mortgages 

are sold after rehabilitation. This buy-and-modify program 

leverages both HHF funds and private capital.

RECENT ACTIVITY:

• In May and June 2013, Ohio released funds for two FHA 

DASP loan pool purchases under the Homeowner 

Stabilization Assistance Program.

18

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013 

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$68.6 million

(14.3% of program cap)

$144.5 million

(30.1% of program cap) 110.6% $198.9 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

6,486 11,546 78.0% 14.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

7.3% 7.2% 8.1% 6.5%

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

All information as of June 30, 2013
OREGON

Oregon Homeownership Stabilization Initiative

Total Allocation = $220.0 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed and underemployed homeowners. 

Unemployed homeowners have received unemployment 

benefits within the last 12 months.

• Loan Preservation Assistance Program – Provides 

reinstatement assistance for unemployed and 

underemployed homeowners. 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 Multnomah 

County homeowners to facilitate a refinance with lower 

monthly mortgage payments.

RECENT ACTIVITY: 

• Oregon implemented changes to its programs on June 6, 

2013, adding an underemployment provision to the 

Mortgage Payment and Loan Preservation Assistance 

programs and increasing assistance for applications 

received after June 4th.

19

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$60.2 million

(32.6% of program cap)

$105.4 million

(57.0% of program cap) 75.1% $142.7 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

4,846 8,579 77.0% 10.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.8% 7.8% 5.9% 5.3%

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

All information as of June 30, 2013
RHODE ISLAND

Hardest Hit Fund Rhode Island

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:

• Based on spending projections, Rhode Island will be the first 

state to fully commit their HHF funds. HHFRI stopped 

accepting new applications in January 2013.

20

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$16.1 million

(23.7% of program cap)

$44.7 million

(65.9% of program cap) 178.3% $64.4 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

1,678 2,968 76.9% 10.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

10.6% 8.8% 7.7% 7.0%

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

All information as of June 30, 2013
SOUTH CAROLINA

SC Homeownership & Employment Lending Program (SC HELP)

Total Allocation = $295.4 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides 

monthly mortgage payment assistance for unemployed or 

underemployed homeowners. Unemployed homeowners 

must have received unemployment insurance benefits 

within the last 12 months.

• Direct Loan Assistance Program – Provides reinstatement 

assistance, principal reduction, or forbearance for 

homeowners who experienced a financial hardship but have 

regained the ability to pay their mortgage. 

• HAMP Assistance Program – Provides reinstatement 

assistance to reduce/eliminate a forbearance to enable a 

HAMP modification.

• Property Disposition Assistance Program – Provides 

assistance to offset relocation expenses incurred in 

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

RECENT ACTIVITY:

• South Carolina launched a new website with a simplified 

application process on May 14, 2013. SC HELP also 

participated in a Making Home Affordable event on June 

28th in Columbia.

21

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$28.8 million

(11.9% of program cap)

$69.3 million

(28.7% of program cap) 140.7% $96.1 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

3,008 5,635 87.3% 9.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

9.3% 8.0% 6.9% 5.6%

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

All information as of June 30, 2013
TENNESSEE

Keep My Tennessee Home

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. Reemployed homeowners may qualify for stand-alone 

reinstatement assistance. 

RECENT ACTIVITY:

• Tennessee has seen a boost in application volumes due to 

successful television, radio, and faith-based marketing 

ads launched in February 2013.

22

Program Funds Disbursed/Committed

Cumulative 

Program Funds 

Disbursed 

June 2012

Cumulative 

Program Funds 

Disbursed 

June 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Cumulative 

Program Funds 

Committed

(as reported by 

the HFA)

$16.6 million

(9.0% of program cap)

$50.3 million

(27.2% of program cap) 202.4% $115.9 million

Homeowners Assisted

Cumulative 

Homeowners

Assisted 

June 2012

Cumulative 

Homeowners 

Assisted 

June 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

1,763 3,968 125.1% 21.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

June 2012

Unemployment 

Rate 

June 2013

90+ Delinquency 

June 2012

90+ Delinquency 

June 2013

8.2% 8.5% 5.7% 4.8%

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

All information as of June 30, 2013