HARDEST HIT FUND

Fourth Quarter 2017 Performance Summary
90+ Delinquency: Percentage of serviced loans 90 days or more past due or in the process of foreclosure.

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

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

(Source: Bureau of Labor Statistics)

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

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

total HHF allocations.

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

payment and blight elimination programs.

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

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

blight elimination programs.

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

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

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

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

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

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

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

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

new programs.

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

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

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

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

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

Terms used in this Summary:

2
FIFTH ROUND FUNDING ALLOCATIONS

3

$28

$383

$8

$78

$31

$269

$62

$58

$263

$42

$224

$115

$9

$192

$95

$37

$22 $85

$0

$500

$1,000

$1,500

$2,000

$2,500

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

Millions

Round 1-4 Allocation

Round 5 Funds
HARDEST HIT FUND

TOTAL ALLOCATION: $9.6 billion

DESCRIPTION:

• HFAs have implemented a number of different programs, 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, 2017, there were 90 active programs across the 

19 HFAs. More than 80% of homeowners approved for HHF 

mortgage payment and reinstatement programs have received 

assistance due to a hardship related to either unemployment or 

underemployment.

• In the aggregate, states have drawn $8.7 billion of their program 

funds from Treasury (91% of program cap).

4

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program

Funds 

Disbursed (%)

$5.76 billion $6.99 billion 21.4% 4.8%

Homeowners Assisted*

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

292,233 347,417 18.9% 4.2%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.7% 4.1% 3.1% 2.9%

www.treasury.gov/HHF

All information as of December 31, 2017

Homeowners Assisted and Assistance Provided

As of December 31, 2017

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

2012 2013 2014 2015 2016 2017

Homeowners Assisted Assistance Provided

$6.99 billion

* These figures include borrowers receiving assistance under 

down payment assistance programs.
HHF FUNDS DRAWN TO DATE

Of the $9.6 billion allocated to HHF, HFAs have drawn from Treasury $8.7 billion, or 91.8%, as 

of 12/31/2017. HFAs must have no more than 5% of their total allocation on hand when 

requesting funds. 

5

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

South Carolina

California

Florida

Ohio

Georgia

New Jersey

Indiana

Kentucky

Oregon

Arizona

North Carolina

Michigan

Illinois

Washington D.C.

Rhode Island

Tennessee

Mississippi

Nevada

Alabama

HFA (% Cap Drawn)
HARDEST HIT FUND

TOTAL ALLOCATION: $9.6 billion

6

All information as of December 31, 2017

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

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

Assistance Provided as a Percent of Program Allocation

Assistance Provided 12/31/16 Assistance Provided 12/31/16 - 12/31/17
ACTIVE PROGRAMS BY HFA

7

State

Mortgage 

Payment 

Assistance

Reinstatement1 Transition 

Assistance2

Principal 

Reduction3

Blight 

Elimination

Down Payment 

Assistance

AL     

AZ     

CA    

DC  

FL    

GA    

IL     

IN     

KY   

MI    

MS   

NC    

NJ    

NV    

OH     

OR   

RI     

SC      

TN     

The chart below shows the approved programs at each HFA. Programs closed to new applicants as 

of 12/31/2017 appear in striped gradient. 

1. May include assistance to reinstate delinquent mortgages, property taxes, and other arrearage fees and/or reverse mortgage assistance programs.

2. Includes facilitation of a short-sale or deed-in-lieu of foreclosure.

3. May include permanent loan modifications, recast, second lien extinguishment, and buy-and-modify programs.
PROGRAM ALLOCATIONS

The two charts below illustrate the total allocations by program type, in comparison to the total 

funds disbursed by program type as of 12/31/2017. Over time, these allocations and 

disbursements have shifted, as HFAs have made program changes in order to respond to 

developments in their respective housing markets. Treasury evaluates and approves certain design 

elements of these programs, and where possible, facilitates servicer participation. 

8

Mortgage 

Payment and 

Reinstatement 

Assistance, 54%

Principal 

Reduction, 20%

Blight 

Elimination, 8%

Down Payment 

Assistance, 7%

Transition 

Assistance, < 1%

Administrative 

Expenses, 11%

Allocation % by Program Type 

Mortgage 

Payment and 

Reinstatement 

Assistance, 58%

Principal 

Reduction, 20%

Blight 

Elimination, 4%

Down Payment 

Assistance, 7%

Transition 

Assistance, < 1%

Administrative 

Expenses , 11%

Assistance % by Program Type
ALABAMA

Alabama Hardest Hit Fund

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$45.5 million $60.8 million 33.6% 6.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,282 6,300 19.3% 4.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.7% 3.8% 3.4% 2.8%

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

All information as of December 31, 2017

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides monthly 

mortgage payments and reinstatement assistance on behalf of 

homeowners who are unable to afford their monthly mortgage 

payment due an employment-related or other eligible financial 

hardship. 

• Short Sale Assistance Program – Provides assistance to 

facilitate a short sale for homeowners who are no longer able 

to afford their home. 

• Loan Modification Assistance Program – Provides principal 

reduction assistance to facilitate a modification, recast, or fully 

extinguish low-balance liens for eligible homeowners. The 

assistance must result in an affordable monthly mortgage 

payment.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state. 

PROGRAM UPDATES:

• Alabama has drawn approximately $86.0 million from 

Treasury as of December 31, 2017.
ARIZONA

Save Our Home Arizona

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$182.3 million $223.4 million 22.5% 1.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,564 9,399 24.3% 0.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.2% 4.7% 1.5% 1.1%

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

All information as of December 31, 2017

Total Allocation = $296.0 million

PROGRAMS:

• Principal Reduction Assistance – Provides principal reduction to 

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

eligible refinance. 

• 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 (Closed) – 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 (Closed) – Prevents 

foreclosures by stimulating home purchase activity and stabilizing 

neighborhoods in targeted areas that continue to demonstrate high 

levels of housing market distress.

PROGRAM UPDATES:

• Arizona has drawn approximately $261.3 million from Treasury as 

of December 31, 2017.
CALIFORNIA

Keep Your Home California

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$1.58 billion $1.91 billion 21.1% 4.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

65,544 73,856 12.7% 2.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.3% 4.5% 1.5% 1.2%

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

All information as of December 31, 2017

Total Allocation = $2.359 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly mortgage payment and reinstatement 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.

PROGRAM UPDATES:

• California has drawn approximately $2.33 billion from 

Treasury as of December 31, 2017.
DISTRICT OF COLUMBIA

HomeSaver Program

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$13.9 million $15.7 million 13.0% 3.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

720 807 12.1% 2.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

6.0% 5.9% 4.0% 3.1%

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

All information as of December 31, 2017

Total Allocation = $28.7 million

PROGRAMS: 

HomeSaver includes the following:

• Unemployment and Underemployment Assistance –

Provides monthly payment and reinstatement 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 delinquent homeowners with an eligible financial 

hardship. Assistance may be used to reinstate delinquent 

property taxes.

PROGRAM UPDATES:

• The District of Columbia has drawn approximately $23.2 

million from Treasury as of December 31, 2017.
FLORIDA

Florida Hardest-Hit Fund

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$724.4 million $966.5 million 33.4% 8.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

33,948 48,553 43.0% 10.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.7% 3.9% 4.3% 6.2%

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

All information as of December 31, 2017

Total Allocation = $1.136 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly payment assistance on behalf of homeowners who 

are unable to afford their monthly mortgage payment due an 

eligible financial hardship. 

• Mortgage Loan Reinstatement Program – Provides 

assistance to reinstate a delinquent mortgage.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible distressed mortgages. 

Principal reduction may be matched with non-program funds 

to facilitate a mortgage modification.

• Principal Reduction Program – Provides principal 

reduction for a current homeowner with a loan recast or 

refinance to reduce a homeowner’s monthly payment.

• Elderly Mortgage Assistance Program – Provides funds to 

reinstate delinquent property taxes or liens for eligible 

homeowners who have received the maximum benefit from 

their reverse mortgages.

• Down Payment Assistance Program – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• In the fourth quarter, Florida reallocated funds from its 

administrative expense budget to its homeowner assistance 

programs.

• Florida has drawn approximately $1.11 billion from Treasury 

as of December 31, 2017.
GEORGIA

HomeSafe Georgia

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$165.0 million $224.3 million 35.9% 7.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

8,728 11,005 26.1% 6.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.3% 4.5% 3.0% 2.6%

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

All information as of December 31, 2017

Total Allocation = $370.1 million

PROGRAMS:

• Mortgage Payment Assistance (Closed) – 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 (Closed) – Provides 

assistance to reinstate a delinquent mortgage.

• Recast/Modification – Provides principal reduction with a 

loan recast or permanent modification to create an 

affordable mortgage payment. Principal curtailment is 

available for severely underwater homeowners who are 

current on their mortgage payments.

• 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.

PROGRAM UPDATES:

• Georgia has drawn approximately $341.4 million from 

Treasury as of December 31, 2017.
ILLINOIS

Illinois Hardest Hit Program

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$383.4 million $485.6 million 26.7% 6.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

19,543 27,953 43.0% 9.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.4% 4.9% 3.8% 3.0%

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

All information as of December 31, 2017

Total Allocation = $715.1 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides

monthly mortgage payment and reinstatement assistance on 

behalf of homeowners who are unable to afford their monthly 

payment due to an eligible financial hardship. Reinstatement 

assistance can include reverse mortgage assistance.

• Mortgage Resolution Fund Program (Closed) – Through a 

public-private partnership, provided funds to facilitate 

modifications of delinquent and distressed mortgages 

purchased from lenders. Modified/rehabilitated loans are 

subsequently sold. This buy-and-modify program targeted 

six Chicago metro area counties.

• Home Preservation Program – Provides principal reduction 

with reinstatement assistance (as needed) to facilitate a 

refinance. Illinois no longer offers recast or mortgage 

modifications under this program.

• 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.

PROGRAM UPDATES:

• Illinois has drawn approximately $588.6 million from 

Treasury as of December 31, 2017.
INDIANA

Indiana Hardest Hit Fund

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$150.2 million $186.0 million 23.8% 3.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

8,722 9,827 12.7% 0.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.0% 3.4% 3.7% 3.0%

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

All information as of December 31, 2017

Total Allocation = $283.7 million

PROGRAMS:

• Unemployment Bridge Program (Partially Closed) –

Provides monthly mortgage payment and reinstatement 

assistance on behalf of homeowners who are unable to afford 

their monthly payment due to an eligible financial hardship. 

Reinstatement-only assistance may be available for recently reemployed homeowners.

• Recast/Modification Program (Closed) – Provides principal 

reduction and/or reinstatement assistance as a one-time 

payment to facilitate a loan recast or permanent loan 

modification.

• Transition Assistance Program (Closed) – 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.

PROGRAM UPDATES:

• Indiana has drawn approximately $253.3 million from 

Treasury as of December 31, 2017.
KENTUCKY

Protect My Kentucky Home

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$131.4 million $153.3 million 16.6% 1.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

9,639 11,104 15.2% 1.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.2% 4.5% 3.4% 2.8%

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

All information as of December 31, 2017

Total Allocation = $207.0 million

PROGRAMS:

• Kentucky Unemployment Bridge Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed, substantially underemployed, or 

qualified disabled homeowners who are delinquent on their 

mortgages. Assistance may be provided for up to two months 

following re-employment or substantially increased 

employment. 

• Hardest Hit Fund Down Payment Assistance Program –

Prevents foreclosures by stimulating home purchase activity 

and stabilizing neighborhoods in targeted areas that continue 

to demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• Kentucky has drawn approximately $184.5 million from 

Treasury as of December 31, 2017.
MICHIGAN

Step Forward Michigan

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$421.4 million $490.0 million 16.3% 3.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

33,285 35,669 7.2% 1.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.1% 4.7% 2.1% 1.7%

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

All information as of December 31, 2017

Total Allocation = $761.2 million

PROGRAMS:

• Principal Curtailment Program (Closed) – Provides 

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

lender to facilitate a mortgage modification. 

• Loan Rescue Program – Provides assistance to reinstate a 

delinquent mortgage. Assistance may also be used to reinstate 

delinquent property taxes and other arrearage fees.

• Unemployment Mortgage Subsidy Program (Closed) –

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 (Closed) – Provides assistance 

to facilitate a mortgage modification or recast.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties in targeted 

municipalities throughout the state. 

PROGRAM UPDATES:

• Michigan has drawn approximately $650.8 million from 

Treasury as of December 31, 2017.
MISSISSIPPI

Mississippi Home Saver Program

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$75.9 million $85.9 million 13.3% 2.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,118 4,457 8.2% 0.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.5% 4.8% 4.6% 3.8%

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

All information as of December 31, 2017

Total Allocation = $144.3 million

PROGRAMS: 

• Home Saver Program (Closed) – Provides reinstatement and 

monthly mortgage payment assistance on behalf of 

homeowners who are at risk of default or losing their home 

due to unemployment or other eligible financial hardship.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties.

PROGRAM UPDATES:

• Mississippi has drawn approximately $106.3 million from 

Treasury as of December 31, 2017.
NEVADA

Nevada Hardest Hit Fund

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$93.1 million $103.5 million 11.2% 3.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,444 5,676 4.3% 1.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.3% 4.9% 3.6% 2.5%

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

All information as of December 31, 2017

Total Allocation = $202.9 million

PROGRAMS:

• Principal Reduction Program – Provides principal reduction 

assistance to facilitate a mortgage modification, recast, or a 

HARP or other eligible refinance. Principal curtailment may be 

available for severely underwater homeowners who are current 

on their mortgage payments.

• Second Mortgage Reduction Plan – Reduces or extinguishes a 

second mortgage balance to facilitate a refinance or modification 

of the primary mortgage or a short sale.

• Short Sale Acceleration Program (Closed) – Provides 

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

• Mortgage Assistance Program – Provides monthly mortgage 

payment assistance on behalf of unemployed or underemployed 

homeowners.

• 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.

• Mortgage Reinstatement Assistance Program (MRAP) –

Provides assistance to reinstate a delinquent mortgage.

PROGRAM UPDATES:

• Nevada has drawn approximately $136.4 million from Treasury 

as of December 31, 2017.
NEW JERSEY

New Jersey HomeKeeper Program

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$243.0 million $292.3 million 20.3% 8.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,250 8,186 31.0% 12.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.7% 4.7% 8.3% 5.7%

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

All information as of December 31, 2017

Total Allocation = $415.1 million

PROGRAMS:

• New Jersey HomeKeeper Program (Closed) – Provides 

reinstatement and monthly mortgage payment assistance on 

behalf of unemployed and underemployed homeowners. 

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 (Closed) – Provides 

principal reduction and/or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

• New Jersey HomeSeeker 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.

PROGRAM UPDATES:

• In the fourth quarter, New Jersey reallocated funds from its 

mortgage payment and principal reduction assistance programs 

to NJ HomeSeeker and expanded the DPA target areas to 

include two additional distressed counties.

• New Jersey has drawn approximately $376.5 million from 

Treasury as of December 31, 2017.
NORTH CAROLINA

NC Foreclosure Prevention Fund

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$423.6 million $521.7 million 23.2% 3.9%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,467 29,545 20.8% 3.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.0% 4.5% 2.7% 2.2%

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

All information as of December 31, 2017

Total Allocation = $706.5 million

PROGRAMS: 

• Mortgage Payment Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of unemployed 

and other eligible homeowners who are unable to afford their 

monthly mortgage payments. 

• Second Mortgage Refinance Program – Provides assistance 

for the extinguishment of second mortgages to reduce the 

homeowner’s monthly mortgage payment.

• 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.

PROGRAM UPDATES:

• North Carolina has drawn approximately $611.7 million from 

Treasury as of December 31, 2017.
OHIO

Save the Dream Ohio

23

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$479.4 million $533.7 million 11.3% 4.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

24,578 25,970 5.7% 1.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

5.2% 4.9% 3.9% 3.0%

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

All information as of December 31, 2017

Total Allocation = $762.2 million

PROGRAMS: 

• Rescue Payment Assistance Program – Provides 

reinstatement assistance to cure a mortgage delinquency.

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Modification with Contribution Assistance (Closed) –

Provides assistance to facilitate a permanent mortgage 

modification.

• Lien Elimination Assistance (Closed) – Provides assistance to 

extinguish mortgage liens to create an affordable payment.

• Transition Assistance Program (Closed) – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• Homeowner Retention Assistance (Closed)– Provides 

assistance to extinguish subordinate liens and ancillary property 

expenses.

• Homeowner Stabilization Assistance Program (Closed) –

Leverages HHF funds and private capital to facilitate 

modifications for eligible mortgages purchased in a distressed 

asset sale.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance of 

vacant and abandoned blighted residential properties.

PROGRAM UPDATES:

• Ohio has drawn approximately $734.8 million from Treasury as 

of December 31, 2017.
OREGON

Oregon Homeownership Stabilization Initiative

24

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$206.4 million $228.2 million 10.6% 2.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

12,005 13,435 11.9% 2.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.3% 4.1% 2.2% 1.5%

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

All information as of December 31, 2017

Total Allocation = $314.6 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Loan Preservation Assistance Program – Provides 

reinstatement for delinquent mortgages, property taxes or other 

eligible property charges. Mortgage reinstatement under LPA 

may be combined with Mortgage Payment Assistance. 

• Loan Refinancing Assistance Pilot Project – Provides for the 

purchase of underwater mortgages at a discounted price to 

facilitate a modification, refinance, or a short sale. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners 

statewide to facilitate a refinance with lower monthly mortgage 

payments.

PROGRAM UPDATES:

• Oregon has drawn approximately $280.0 million from 

Treasury as of December 31, 2017.
RHODE ISLAND

Hardest Hit Fund Rhode Island

25

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$68.3 million $79.1 million 15.9% 7.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,255 3,822 17.4% 3.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.7% 4.5% 4.1% 3.2%

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

All information as of December 31, 2017

Total Allocation = $116.0 million

PROGRAMS: 

• Loan Modification Assistance – Provides principal reduction 

assistance to facilitate a recast, mortgage modification, or 

curtailment.

• Temporary and Immediate Homeowner Assistance – Provides 

assistance to reinstate a delinquent mortgage.

• Moving Forward Assistance – Provides relocation assistance and 

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

• Mortgage Payment Assistance – Unemployment Program –

Provides monthly mortgage payment and reinstatement assistance 

on behalf of unemployed or underemployed homeowners. 

Homeowners must contribute a minimum partial payment each 

month.

• Principal Reduction Program (Closed) – Provides principal 

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

servicer or lender to facilitate a mortgage modification.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods 

in targeted areas that continue to demonstrate high levels of 

housing market distress.

• Reverse Mortgage Assistance Pilot Program – Provides funds to 

reinstate delinquent property taxes or liens for eligible 

homeowners.

• Rhode Island Refi– Provides principal reduction assistance to 

facilitate a refinance. 

PROGRAM UPDATES:

• Rhode Island has drawn approximately $92.9 million from 

Treasury as of December 31, 2017.
SOUTH CAROLINA

South Carolina Homeownership and Employment Lending Program (SC HELP)

26

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$191.3 million $224.0 million 17.1% 3.9%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

11,786 13,023 10.5% 2.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.6% 4.2% 3.3% 2.5%

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

All information as of December 31, 2017

Total Allocation = $317.5 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides monthly 

mortgage payment assistance for eligible households that are 

experiencing a temporary reduction in income or financial 

hardship.

• Direct Loan Assistance Program – Provides reinstatement 

assistance, principal reduction, or forbearance 

reduction/elimination for homeowners who experienced a 

financial hardship but have regained the ability to pay their 

mortgage.

• Modification Assistance Program – Provides principal 

reduction assistance to facilitate a recast or fully extinguish 

low-balance liens for eligible homeowners.

• Property Disposition Assistance Program – Provides 

assistance to offset relocation expenses incurred in 

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

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties.

• 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.

PROGRAM UPDATES:

• In the fourth quarter, South Carolina introduced a new down 

payment assistance program, and reallocated funds from its 

blight elimination program to monthly payment assistance.

• South Carolina has drawn approximately $317.5 million from 

Treasury as of December 31, 2017.
TENNESSEE

Keep My Tennessee Home

27

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

December 2016

Cumulative 

Program Funds 

Disbursed

December 2017

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$181.0 million $205.2 million 13.4% 3.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

December 2016

Cumulative 

Homeowners 

Assisted 

December 2017

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,355 8,830 20.1% 5.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

December 2016

Unemployment 

Rate 

December 2017

90+ Delinquency 

December 2016

90+ Delinquency 

December 2017

4.7% 3.3% 2.8% 2.2%

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

All information as of December 31, 2017

Total Allocation = $302.1 million

PROGRAMS:

• Hardest Hit Fund Program (Closed) – 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.

• Principal Reduction with Recast Program or Lien 

Extinguishment– 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.

• HHF Reinstatement Only Program - Provides assistance 

to reinstate a delinquent mortgage and mortgage-related 

expenses. 

PROGRAM UPDATES:

• In the fourth quarter, Tennessee introduced a standalone 

reinstatement program, included additional target areas 

under its down payment assistance program, and reallocated 

funds among its homeowner assistance programs and 

administrative budget.

• Tennessee has drawn approximately $235.3 million from 

Treasury as of December 31, 2017.