HARDEST HIT FUND

Fourth 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 December 31, 2015, there were 80 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 $5.5 billion of 

their program funds (82% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$3.7 billion

(55.3% of

program cap)

$4.8 billion

(70.9% of

program cap)

27.3% 5.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

218,138

(revised estimate) 248,620 14.0% 2.8%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

5.6% 5.0% 4.7% 3.4%

www.treasury.gov/HHF

All information as of December 31, 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 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 October, Alabama expanded eligibility under its mortgage 

payment assistance program, and introduced full lien 

extinguishment for low-balance loans under its loan 

modification program.

• Alabama reported it had committed approximately $38.9 

million on behalf of program participants as of December 31, 

2015.

4

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$30.2 million

(22.3% of

program cap)

$35.6 million

(26.3% of

program cap)

18.2% 3.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,789 4,377 15.5% 2.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.1% 6.2% 4.6% 3.6%

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

All information as of December 31, 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.

• 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 December, Arizona received approval to implement a new 

Down Payment Assistance Program to stimulate market activity 

and prevent avoidable foreclosures in neighborhoods struggling 

to recover.

• Arizona reported it had committed approximately $141.6 

million on behalf of program participants as of December 31, 

2015. 5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$87.0 million

(37.4% of

program cap)

$117.4 million

(50.4% of

program cap)

35.0% 8.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,533 4,219 19.4% 3.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.6% 6.3% 2.3% 1.7%

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

All information as of December 31, 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 December, California reallocated funds among programs in 

order to continue assisting borrowers with employment-related 

hardships.

• California reported it had committed approximately $1.343 

billion on behalf of program participants as of December 31, 

2015.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$884.1 million

(48.4% of

program cap)

$1.24 billion

(69.5% of

program cap)

39.8% 8.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

46,018 56,203 22.1% 4.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

7.1% 5.8% 2.5% 1.7%

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

All information as of December 31, 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 December 31, 2015.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$13.4 million

(81.2% of

program cap)

$13.7 million

(83.1% of

program cap)

2.4% 0.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

695 706 1.6% 0.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

7.7% 6.6% 5.2% 4.1%

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

All information as of December 31, 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 the fourth quarter, Florida participated in a series of on-site 

events with housing counselors to promote its Elderly 

Mortgage Assistance Program.

• Florida reported it had committed approximately $652.6 

million on behalf of program participants as of December 31, 

2015.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$462.8 million

(48.6% of

program cap)

$570.6 million

(59.9% of

program cap)

23.3% 5.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

21,300 24,799 16.4% 3.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

5.7% 5.0% 8.3% 5.1%

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

All information as of December 31, 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. 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.

RECENT ACTIVITY:

• Georgia continued its comprehensive marketing efforts to 

promote its programs throughout the state during the fourth 

quarter.

• Georgia reported it had committed approximately $165.0 

million on behalf of program participants as of December 

31, 2015.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$102.2 million

(35.0% of

program cap)

$135.6 million

(46.5% of

program cap)

32.6% 6.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,909 7,441 25.9% 5.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.6% 5.5% 4.3% 3.3%

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

All information as of December 31, 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 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.

• 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:

• Since the launch of their Down Payment Assistance (DPA) 

Program in Q3 2015, Illinois has reserved over 60% of DPA 

funds on behalf of homebuyers as of December 2015.

• As of December 31, 2015, Illinois reported it had committed 

approximately $352.0 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

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$292.2 million

(76.6% of

program cap)

$339.4 million

(89.0% of

program cap)

16.1% 2.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

13,722 14,013 2.1% 0.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.2% 5.9% 5.8% 4.2%

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

All information as of December 31, 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 fourth 

quarter. 

• As of December 31, 2015, Indiana reported it had committed 

an estimated $132.0 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

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$57.2 million

(29.9% of

program cap)

$99.0 million

(51.7% of

program cap)

73.2% 15.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,682 6,869 46.7% 8.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

5.9% 4.4% 5.0% 4.0%

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

All information as of December 31, 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 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 October, Kentucky received approval to implement a new 

Down Payment Assistance Program to increase market 

activity and prevent avoidable foreclosures in neighborhoods 

struggling to recover.

• Kentucky reported it had committed approximately $160.7 

million on behalf of program participants as of December 31, 

2015.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$77.8 million

(59.3% of

program cap)

$99.9 million

(76.2% of

program cap)

28.4% 5.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,369 7,552 18.6% 3.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

5.5% 5.3% 4.5% 3.6%

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

All information as of December 31, 2015
MICHIGAN

Step Forward Michigan—Closed to New Applicants

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 October, Michigan reallocated funds into its Blight 

Elimination Program. On December 31, 2015, Michigan 

closed its portal to new applicants, due to approaching full 

commitment of program funds.

• As of December 31, 2015, Michigan reported it had committed 

approximately $248.7 million on behalf of program 

participants and an additional $207.7 million under the Blight 

Elimination Program.

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$211.8 million

(46.9% of

program cap)

$341.8 million

(74.7% of

program cap)

61.3% 12.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,568 29,278 19.2% 4.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.4% 5.1% 3.3% 2.4%

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

All information as of December 31, 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 fourth quarter, Mississippi continued to distribute 

marketing materials to encourage more unemployed 

homeowners to apply to the Home Saver Program.

• Mississippi reported it had committed approximately $77.5 

million on behalf of program participants as of December 31, 

2015.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$43.7 million

(50.5% of

program cap)

$62.1 million

(71.6% of

program cap)

41.9% 7.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,984 3,589 20.3% 3.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

7.2% 6.4% 5.7% 4.7%

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

All information as of December 31, 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 October, Nevada expanded eligibility and clarified the 

interactions between its Principal Reduction and Second 

Mortgage Reduction programs.

• Nevada reported it had committed approximately $88.5 million 

on behalf of participants as of December 31, 2015.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$85.8 million

(50.7% of

program cap)

$88.4 million

(52.3% of

program cap)

3.1% 1.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,227 

(revised estimate) 5,344 2.2% 0.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

7.0% 6.4% 6.0% 4.3%

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

All information as of December 31, 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 the fourth quarter, New Jersey approved its first homeowners 

for assistance under 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 $244.5 

million on behalf of program participants as of December 31, 

2015.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$205.7 million

(78.5% of

program cap)

$229.1 million

(87.4% of

program cap)

11.3% 1.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,993 6,017 0.4% 0.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.3% 5.1% 11.0% 8.8%

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

All information as of December 31, 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 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 fourth quarter, North Carolina began to receive applications 

and reserve assistance under their Down Payment Assistance 

Program.

• North Carolina reported it had committed approximately $370.3 

million on behalf of program participants as of December 31, 

2015.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$290.9 million

(69.2% of

program cap)

$350.7 million

(84.2% of

program cap)

20.6% 4.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

18,277 21,100 15.4% 2.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

5.4% 5.6% 3.7% 2.8%

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

All information as of December 31, 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:

• With over 400 properties demolished and greened, Ohio’s 

Neighborhood Initiative Program had its highest production 

quarter in Q4 2015.

• As of December 31, 2015, Ohio reported it had committed 

approximately $431.3 million on behalf of program participants 

and an additional $79.5 million under the Neighborhood 

Initiative Program.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$384.5 million

(74.9% of

program cap)

$438.4 million

(85.6% of

program cap)

14.0% 2.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,214 24,533 1.3% 0.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

5.1% 4.7% 5.2% 4.2%

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

All information as of December 31, 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. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners 

statewide to facilitate a refinance with lower monthly mortgage 

payments.

RECENT ACTIVITY: 

• In November, Oregon announced plans to expand its Loan 

Refinance Assistance Pilot Project (LRAPP) beyond the 

original five counties.

• Oregon reported it had committed approximately $220.3 

million on behalf of program participants as of December 31, 

2015.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$175.4 million

(97.0% of

program cap)

$199.1 million

(110.1% of

program cap)

13.5% 1.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

11,620 11,777 1.4% 0.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.7% 5.4% 4.0% 2.8%

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

All information as of December 31, 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-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 – 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 November, Rhode Island received approval to implement a new 

Down Payment Assistance Program to stimulate purchases of 

distressed homes, to stabilize housing markets and prevent 

avoidable foreclosures in neighborhoods struggling to recover..

• Rhode Island reported it had committed approximately $67.5 

million on behalf of program participants as of December 31, 2015.

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$62.7 million

(92.5% of

program cap)

$64.6 million

(95.3% of

program cap)

3.1% 0.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 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 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.8% 5.1% 6.0% 4.7%

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

All information as of December 31, 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 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 November, South Carolina expanded eligibility under its 

Monthly Payment Assistance Program to assist homeowners 

who experienced a financial hardship due to catastrophic 

expenses. 

• As of December 31, 2015, South Carolina reported it had 

committed approximately $185.4 million on behalf of 

program participants and an additional $35.0 million under 

the Blight Reduction Program.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$127.7 million

(52.9% of

program cap)

$159.9 million

(66.2% of

program cap)

25.2% 5.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

8,808 10,373 17.8% 4.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.6% 5.5% 4.4% 3.5%

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

All information as of December 31, 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 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 October, Tennessee opened its application period for 

partners under its Blight Elimination Program (BEP).

• Tennessee reported it had committed approximately $183.9 

million on behalf of program participants as of December 

31, 2015.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2014

Cumulative 

Program Funds 

Disbursed

December 2015

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$137.9 million

(71.5% of

program cap)

$170.0 million

(88.2% of

program cap)

23.3% 3.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2014

Cumulative 

Homeowners 

Assisted 

December 2015

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 

December 2014

Unemployment 

Rate 

December 2015

90+ Delinquency 

December 2014

90+ Delinquency 

December 2015

6.6% 5.6% 4.0% 3.1%

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

All information as of December 31, 2015