HARDEST HIT FUND

Third Quarter 2013 Performance Summary
90+ Delinquency: Percentage of serviced loans 90 days or more past due or in the process of foreclosure 

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

Unemployment Rate: Ratio of unemployed to the civilian labor force (Source: Bureau of Labor Statistics)

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

administrative expenses

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 principal reduction, reinstatement, short 

sale/transition assistance, modification assistance, note purchase, 

blight elimination, and mortgage payment programs.

• As of September 30, 2013, there were 66 active programs across 

the 19 HFAs. Approximately 67.5 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 have reported committing $2.9 billion 

of their program funds (43.6% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

September 2012 

Cumulative 

Program Funds 

Disbursed

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$742.2 million

(11.0% of program 

cap)

$2.0 billion

(29.7% of program 

cap)

169.0% 21.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

77,164 145,081 88.0% 14.4%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

7.8% 7.2% 7.0% 5.7%

www.treasury.gov/HHF

All information as of September 30, 2013

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

$0

$500

$1,000

$1,500

$2,000

$2,500

Q3

2010

Q4

2010

Q1

2011

Q2

2011

Q3

2011

Q4

2011

Q1

2012

Q2

2012

Q3

2012

Q4

2012

Q1

2013

Q2

2013

Q3

2013

Millions

Homeowners Assisted and Assistance Provided

Through September 30, 2013

Homeowners Assisted Assistance Provided ($ Millions)
ALABAMA All information as of September 30, 2013

Alabama Hardest Hit Fund

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides monthly 

mortgage payments and reinstatement assistance paid to the 

servicer on behalf of unemployed or underemployed 

homeowners.

• Short Sale Assistance Program – Provides assistance to 

facilitate a short sale for homeowners who are no longer 

able to afford their home. 

• Loan Modification Assistance Program – Provides a onetime payment to facilitate a mortgage modification by 

reducing the outstanding principal balance, reinstating a 

delinquent loan, and/or paying off escrow shortage fees or 

arrearages. The modification must result in an affordable 

monthly mortgage payment.

RECENT ACTIVITY:

• Alabama formally launched its Short Sale Assistance and 

Loan Modification Assistance programs statewide and saw 

servicer participation increase throughout the quarter. In 

September, Alabama launched a new website to highlight 

program information and streamline the application 

process.

• Alabama reported it had committed approximately 

$29.9 million on behalf of participants as of September 

30, 2013.

4

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$15.2 million

(11.2% of program 

cap)

$22.7 million

(16.8% of program 

cap)

49.6% 8.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,138 2,901 35.7% 5.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

7.3% 6.4% 5.3% 5.0%

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

Save Our Home Arizona

Total Allocation = $267.8 million

PROGRAMS:

• Principal Reduction Assistance – Provides principal 

reduction to facilitate a mortgage modification, a HARP, or 

other eligible refinance.

• Second Mortgage Assistance – Provides funds to eliminate 

second mortgages, to facilitate a modification of the primary 

mortgage, or to enable a short sale.

• Unemployment/Underemployment/Reinstatement 

Mortgage Assistance – Provides monthly mortgage 

payments and/or reinstatement assistance on behalf of 

unemployed or underemployed homeowners. Homeowners 

must contribute a portion of their monthly income.

• Short Sale Assistance – Provides assistance to facilitate a 

short sale, including closing costs and/or lien 

extinguishment. A limited amount of funds may be paid 

directly to the homeowner for transition assistance. 

Assistance may also be used to facilitate a short sale with 

lease-to-own option on select transactions.

RECENT ACTIVITY:

• In early September, Arizona partnered with Fannie Mae and 

Freddie Mac to boost marketing efforts and awareness of the 

recast option through its Principal Reduction Assistance 

program component.

• Arizona reported it had committed approximately $69.9 

million on behalf of participants as of September 30, 

2013.

5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$5.7 million

(2.4% of program cap)

$44.1 million

(18.7% of program 

cap)

675.3% 45.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

947 2,289 141.7% 19.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.3% 8.3% 5.0% 2.9%

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

All information as of September 30, 2013
CALIFORNIA

Keep Your Home California

Total Allocation = $1.975 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed or underemployed homeowners who are 

currently receiving unemployment benefits and are delinquent on 

their mortgage.

• Mortgage Reinstatement Assistance Program – Provides 

assistance to reinstate a delinquent mortgage; may be used to 

enable a mortgage modification.

• Principal Reduction Program – Provides principal reduction 

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

may be used with HAMP-PRA.

• Transition Assistance Program – Provides relocation 

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

short sale.

• Innovation Fund Programs – CA also offers local programs, 

including the Los Angeles Housing Department Principal 

Reduction Program and the Community 2nd Mortgage Principal 

Reduction Program. 

RECENT ACTIVITY:

• In September, California expanded its Principal Reduction 

Program (PRP) to include forbearance forgiveness for modified 

loans, and reallocated funds from its inactive NeighborWorks® 

Sacramento Short Sale Gateway Program to PRP. California 

further clarified eligibility calculations for its programs, and saw 

steady application volumes due to its ongoing celebrity-endorsed 

marketing campaign. 

• California reported it had committed approximately $538.7 

million on behalf of participants as of September 30, 2013.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$166.5 million

(9.1% of program cap)

$468.6 million

(25.6% of program 

cap)

181.4% 22.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

16,872 29,909 77.3% 14.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

10.2% 8.7% 5.7% 3.6%

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

All information as of September 30, 2013
DISTRICT OF COLUMBIA

HomeSaver Program

Total Allocation = $20.7 million

PROGRAMS: 

HomeSaver includes the following:

• Lifeline – Provides one-time reinstatement assistance to 

bring a delinquent mortgage current for unemployed or 

underemployed homeowners. Homeowners must have 

received unemployment benefits within 6 months of 

application or be earning substantially less income compared 

to their income prior to experiencing a financial hardship. 

• Mortgage Assistance – Provides monthly payment 

assistance on behalf of unemployed or underemployed 

homeowners who are unable to afford their monthly 

payments. 

• Restore – Provides one-time reinstatement assistance on 

behalf of previously unemployed or underemployed 

homeowners who are currently or newly able to afford their 

monthly mortgage payments. 

RECENT ACTIVITY:

• In September, the District of Columbia expanded the 

maximum amount and duration of assistance available per 

household. Homeowners who apply on or after October 1, 

2013, will be reviewed for eligibility under the new program 

limits.

• The District of Columbia reported it had committed 

approximately $12.5 million on behalf of participants as 

of September 30, 2013.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$6.2 million

(36.5% of program 

cap)

$10.2 million

(59.8% of program 

cap)

63.9% 8.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

388 580 49.5% 8.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.8% 8.6% 6.2% 5.6%

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

All information as of September 30, 2013
FLORIDA

Florida Hardest-Hit Fund

Total Allocation = $1.057 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program – Provides 

monthly payment assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford their 

monthly payment. 

• Mortgage Loan Reinstatement Program – Provides 

assistance to reinstate a delinquent mortgage.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible mortgages purchased in a 

distressed asset sale. Principal reduction may be matched 

with non-program funds to facilitate a mortgage 

modification.

• 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 homeowners 

who have received the maximum benefit from their eligible 

reverse mortgages.

RECENT ACTIVITY:

• In September, Florida created two new programs: Principal 

Reduction Program (PRP) and Elderly Mortgage Assistance 

Program (Elmore). Florida launched PRP on September 25 

and received 25,000 applications within 7 days.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$50.7 million

(5.3% of program cap)

$169.8 million

(17.8% of program 

cap)

234.9% 27.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

6,379 12,129 90.1% 24.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.4% 6.8% 16.8% 12.6%

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

All information as of September 30, 2013

• Florida reported it had committed approximately $327.2 

million on behalf of participants as of September 30, 2013.
GEORGIA

HomeSafe Georgia

Total Allocation = $339.3 million

PROGRAMS:

• Mortgage Payment Assistance – Provides monthly 

payment assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford their 

monthly payment. A homeowner may be eligible to receive 

additional assistance after reemployment. One-time 

reinstatement assistance may be available for homeowners 

who have regained employment and can afford their 

monthly mortgage payments but are unable to cure their 

mortgage delinquency. 

RECENT ACTIVITY:

• Georgia continued to participate in joint events and 

promotions throughout the state with servicing partners, 

Congressional representatives, faith-based organizations, 

businesses, and the Georgia Department of Labor as part of 

its 2013 outreach plan. HomeSafe Georgia launched new 

statewide radio ads which premiered in September.

• Georgia reported it had committed approximately $85.4 

million on behalf of participants as of September 30, 

2013.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$13.3 million

(4.3% of program cap)

$53.4 million

(17.1% of program 

cap)

301.5% 24.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,708 4,004 134.4% 12.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.9% 8.3% 6.7% 5.3%

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

All information as of September 30, 2013
ILLINOIS

Illinois Hardest Hit Program

Total Allocation = $445.6 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed and underemployed homeowners. 

Homeowners must contribute a portion of their monthly 

income; may be used with HAMP-UP.

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

modifications for delinquent and distressed mortgages 

purchased from lenders. Modified/rehabilitated loans are 

subsequently sold. This buy-and-modify program targets 

six Chicago metro area counties. 

• Home Preservation Program – Provides principal 

reduction or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

RECENT ACTIVITY:

• In July, Illinois publicly announced that the final date to 

submit new applications for HHF would be September 30. 

Illinois will continue to administer the program and process 

borrowers under review until they reach full commitment of 

their program funds. In August, Illinois additionally 

reallocated funds to HHF HELP, to enhance funding 

availability for unemployed and underemployed 

homeowners.

• Illinois reported it had committed approximately $296.4 

million on behalf of participants as of September 30, 

2013.

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$51.4 million

(13.5% of program 

cap)

$168.1 million

(44.1% of program 

cap)

226.7% 16.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

4,434 10,102 127.8% 14.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.9% 9.1% 10.0% 7.7%

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

All information as of September 30, 2013
INDIANA

Indiana Hardest Hit Fund

Total Allocation = $221.7 million

PROGRAMS:

• Unemployment Bridge Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

unemployed homeowners. Reinstatement-only assistance 

may be available for recently re-employed homeowners.

• Recast/Modification Program – Provides principal 

reduction and/or reinstatement assistance as a one-time 

payment to facilitate a loan recast or permanent loan 

modification.

• Transition Assistance Program – Provides relocation 

assistance for homeowner expenses and the extinguishment 

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

RECENT ACTIVITY:

• Indiana increased marketing efforts in the third quarter, 

participating in events throughout the state. In August, 

Indiana partnered with Fifth Third Bank to provide an HHF 

exhibit for the E-bus tour to Columbus, Terre Haute, and 

Indianapolis.

• Indiana reported it had committed approximately $48.7 

million on behalf of participants as of September 30, 

2013.

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$8.9 million

(4.6% of program cap)

$24.0 million

(12.5% of program 

cap)

169.5% 27.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,069 2,260 111.4% 21.6%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.5% 7.8% 7.4% 6.1%

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

All information as of September 30, 2013
KENTUCKY

Protect My Kentucky Home

Total Allocation = $148.9 million

PROGRAMS:

• Kentucky Unemployment Bridge Program – Provides 

monthly mortgage payment and reinstatement assistance 

on behalf of unemployed or substantially underemployed 

homeowners who are delinquent on their mortgages. 

Assistance may be provided for up to two months 

following re-employment or substantially increased 

employment. 

RECENT ACTIVITY:

• Kentucky implemented a six-month radio ad campaign in 

July and participated in local and national conferences in 

September, which resulted in increased call and 

application volumes throughout the quarter.

• Kentucky reported it had committed approximately 

$112.5 million on behalf of participants as of 

September 30, 2013.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$22.4 million

(16.8% of program 

cap)

$47.6 million

(35.6% of program 

cap)

112.6% 14.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,379 4,500 89.2% 11.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.2% 8.3% 6.1% 5.2%

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

All information as of September 30, 2013
MICHIGAN

Step Forward Michigan

Total Allocation = $498.6 million

PROGRAMS:

• Principal Curtailment Program – Provides principal 

reduction with a 1:1 match from the servicer or lender to 

facilitate a mortgage modification. 

• Loan Rescue Program – Provides assistance to reinstate a 

delinquent mortgage; funds may be applied to delinquent 

escrow fees, property taxes, and other arrearage fees.

• Unemployment Mortgage Subsidy Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed homeowners. Homeowners must 

contribute a portion of their monthly income and be actively 

receiving unemployment benefits. 

• Modification Plan Program – Provides assistance to 

facilitate a mortgage modification or recast.

• Blight Elimination Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties in 

the cities of Detroit, Flint, Grand Rapids, Pontiac, and 

Saginaw.

RECENT ACTIVITY:

• Michigan saw increased volumes of applications for property 

tax assistance throughout the quarter, driven by high tax 

delinquency rates throughout the state. In July, Michigan 

announced Blight Elimination Program funding allocations 

for the 5 participating cities.

• Michigan reported it had committed approximately 

$114.8 million on behalf of participants as of September 

30, 2013. 13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$35.8 million

(8.0% of program cap)

$110.2 million

(24.7% of program 

cap)

208.0% 28.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,300 15,190 108.1% 19.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

9.2% 9.0% 5.5% 4.3%

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

All information as of September 30, 2013
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $101.9 million

PROGRAMS: 

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 September, Mississippi expanded eligible hardships to 

include reduced income due to death or divorce of a spouse, 

and to extend the maximum duration of assistance.

• Mississippi reported it had committed approximately 

$30.0 million on behalf of participants as of September 

30, 2013.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$6.7 million

(7.6% of program cap)

$20.4 million

(22.9% of program 

cap)

202.9% 23.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

687 1,771 157.8% 16.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

9.2% 8.5% 7.4% 6.2%

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

All information as of September 30, 2013
NEVADA

Nevada Hardest Hit Fund

Total Allocation = $194.0 million

PROGRAMS:

• Principal Reduction Program – Provides principal reduction 

to facilitate a HARP refinance or a mortgage modification with a 

1:1 match by a servicer or lender.

• Second Mortgage Reduction Plan – Reduces or extinguishes 

a second mortgage balance to facilitate a refinance or 

modification of the primary mortgage or a short sale. Lenders 

must contribute $.40 per $.60 in program funds applied. Program 

may be used with HAMP.

• Short Sale Acceleration Program – Provides transition 

assistance for a homeowner who has been lender-approved for a 

short sale or deed-in-lieu.

• Mortgage Assistance Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of unemployed 

and substantially underemployed homeowners. Homeowners 

must contribute a minimum partial payment.

• Mortgage Assistance Program Alternative – Provides 

monthly mortgage payment and reinstatement assistance for 

homeowners on a fixed income due to retirement or disability. 

Homeowners must contribute a minimum partial payment.

• Home Retention Program – In partnership with Home Means 

Nevada, Inc., this note purchase program provides principal 

reduction to facilitate permanent modifications for eligible loans.

RECENT ACTIVITY:

• In August, Nevada initiated plans to implement its new Home 

Retention Program.

• Nevada reported it had committed approximately $79.7 

million on behalf of participants as of September 30, 2013.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$16.0 million

(9.5% of program cap)

$76.8 million

(45.4% of program 

cap)

380.0% 9.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,802 4,694 160.5% 8.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

10.6% 9.4% 11.9% 8.7%

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

All information as of September 30, 2013
NEW JERSEY

New Jersey HomeKeeper Program

Total Allocation = $300.5 million

PROGRAMS:

• New Jersey HomeKeeper Program – Provides 

reinstatement and monthly mortgage payment assistance 

on behalf of unemployed or substantially underemployed 

homeowners at risk of imminent default. Homeowners 

must also be in the process of seeking work or job training 

that will enable them to resume making their mortgage 

payments in full.

RECENT ACTIVITY:

• New Jersey continued to work to improve turnaround 

times for their existing pipeline of applications, as they 

rapidly approach full commitment of program funds.

• New Jersey reported it had committed approximately 

$184.2 million on behalf of participants as of 

September 30, 2013.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$9.6 million

(3.7% of program cap)

$99.8 million

(38.1% of program 

cap)

942.2% 38.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,197 4,424 269.6% 22.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

9.6% 8.4% 12.9% 12.1%

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

All information as of September 30, 2013
NORTH CAROLINA

NC Foreclosure Prevention Fund

Total Allocation = $482.8 million

PROGRAMS: 

• Mortgage Payment Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of 

unemployed and other eligible homeowners who are unable to 

afford their monthly mortgage payments. Homeowners who 

are in job training/education programs may receive an 

extended term of assistance. Reinstatement is available for 

eligible homeowners who have regained employment and can 

afford their monthly payment provided they can bring their 

mortgage current.

• Second Mortgage Refinance Program – Provides assistance 

for the extinguishment of second mortgages to reduce the 

homeowner’s monthly mortgage payment and to facilitate a 

first mortgage refinance or HAMP modification.

• Principal Reduction Recast Program – Provides principal 

reduction with a loan recast to reduce a homeowner’s monthly 

payment.

RECENT ACTIVITY:

• In August, North Carolina expanded the eligible hardships 

under its Mortgage Payment Program (MPP) and adjusted the 

Second Mortgage Refinance Program. North Carolina 

additionally replaced its inactive Permanent Loan 

Modification Program with a new Principal Reduction Recast 

Program.

• North Carolina reported it had committed approximately 

$249.2 million on behalf of participants as of September 

30, 2013.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$93.3 million

(22.2% of program 

cap)

$194.2 million

(46.2% of program 

cap)

108.1% 15.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

8,415 13,823 64.3% 10.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

9.5% 8.3% 5.5% 4.4%

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

All information as of September 30, 2013
OHIO

Save the Dream Ohio

Total Allocation = $570.4 million

PROGRAMS: 

• Rescue Payment Assistance Program – Provides 

reinstatement assistance to cure a mortgage delinquency.

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed or 

underemployed homeowners.

• Modification with Contribution Assistance – Provides 

assistance to facilitate a permanent mortgage modification.

• Lien Elimination Assistance – Provides assistance to 

extinguish mortgage liens to create an affordable payment.

• Transition Assistance Program – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• Homeowner Retention Assistance – Provides assistance to 

extinguish subordinate liens and ancillary property expenses.

• Homeowner Stabilization Assistance Program – Provides 

funds to facilitate modifications for eligible mortgages 

purchased in a distressed asset sale. This buy-and-modify 

program leverages both HHF funds and private capital.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance of 

vacant and abandoned blighted residential properties in Ohio.

RECENT ACTIVITY:

• In August, Ohio initiated plans to implement its new 

Neighborhood Initiative Program.

• Ohio reported it had committed approximately $286.2 

million on behalf of participants as of September 30, 2013.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$86.8 million

(18.1% of program 

cap)

$177.2 million

(36.9% of program 

cap)

104.1% 22.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,647 13,423 75.5% 16.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

7.0% 7.4% 7.6% 6.4%

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

All information as of September 30, 2013
OREGON

Oregon Homeownership Stabilization Initiative

Total Allocation = $220.0 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides 

monthly mortgage payment and reinstatement assistance on 

behalf of unemployed and underemployed homeowners. 

Unemployed homeowners have received unemployment 

benefits within the last 12 months.

• Loan Preservation Assistance Program – Provides 

reinstatement assistance for unemployed and 

underemployed homeowners. Additional funds may be 

available for those receiving stand-alone reinstatement.

• Loan Refinancing Assistance Pilot Project – Provides for 

the purchase of underwater mortgages at a discounted price 

to facilitate a modification, refinance, or a short sale. 

LRAPP is available in Crook, Deschutes, Jackson, 

Jefferson, and Josephine Counties. 

• Rebuilding American Homeownership Assistance Pilot 

Project – Provides assistance to underwater homeowners in 

select counties to facilitate a refinance with lower monthly 

mortgage payments.

RECENT ACTIVITY: 

• In August, Oregon expanded its Rebuilding American 

Homeownership Assistance Pilot Project from Multnomah 

county to select counties throughout the state.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$69.4 million

(37.6% program cap)

$118.1 million

(63.9% of program 

cap)

70.1% 12.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,834 9,171 57.2% 6.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.6% 7.8% 5.8% 5.1%

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

All information as of September 30, 2013

• Oregon reported it had committed approximately $151 

million on behalf of participants as of September 30, 2013.
RHODE ISLAND

Hardest Hit Fund Rhode Island

Total Allocation = $79.3 million

PROGRAMS: 

• Loan Modification Assistance – Provides assistance to 

facilitate mortgage modifications for homeowners who are 

ineligible for HAMP or other modifications. Homeowners must 

contribute a minimum partial payment each month.

• Temporary and Immediate Homeowner Assistance –

Provides reinstatement or other mortgage-related default 

assistance, or monthly mortgage payments on behalf of 

homeowners experiencing a temporary loss of income. 

Homeowners must contribute a minimum partial payment each 

month.

• Moving Forward Assistance – Provides relocation assistance 

and the extinguishment of liens associated with a short sale or 

deed-in-lieu. 

• Mortgage Payment Assistance – Unemployment Program 

Provides monthly mortgage payment and reinstatement 

assistance on behalf of unemployed or underemployed 

homeowners. Homeowners must contribute a minimum partial 

payment each month.

• Principal Reduction Program – Provides principal reduction 

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

or lender to facilitate a mortgage modification.

RECENT ACTIVITY:

• Although no longer accepting new applications, Rhode Island 

continues to serve the applicants in their pipeline as well as 

those homeowners actively participating in programs while 

rapidly approaching the full commitment of program funds.

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$22.6 million

(33.4% of program 

cap)

$49.8 million

(73.5% of program 

cap)

120.1% 11.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,033 3,034 49.2% 2.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

10.2% 9.2% 7.9% 6.8%

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

All information as of September 30, 2013

• Rhode Island reported it had committed approximately $64.9 

million on behalf of participants as of September 30, 2013.
SOUTH CAROLINA

SC Homeownership & Employment Lending Program (SC HELP)

Total Allocation = $295.4 million

PROGRAMS:

• Monthly Payment Assistance Program – Provides monthly 

mortgage payment assistance for unemployed or 

underemployed homeowners. Unemployed homeowners 

must have received unemployment insurance benefits within 

the last 12 months.

• Direct Loan Assistance Program – Provides reinstatement 

assistance, principal reduction, or forbearance for 

homeowners who experienced a financial hardship but have 

regained the ability to pay their mortgage. 

• HAMP Assistance Program – Provides reinstatement 

assistance to reduce/eliminate a forbearance to enable a 

HAMP modification.

• Property Disposition Assistance Program – Provides 

assistance to offset relocation expenses incurred in 

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

RECENT ACTIVITY:

• South Carolina launched an e-mail campaign in August, and 

filmed new television commercial spots which debuted in 

September and are scheduled to run through December. 

South Carolina also saw increased referrals to their website 

through improved online advertisements.

• South Carolina reported it had committed approximately 

$107.6 million on behalf of participants as of September 

30, 2013.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$38.1 million

(15.8% % of program 

cap)

$79.9 million

(33.1% of program 

cap)

109.8% 15.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,701 6,276 69.6% 11.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.9% 7.9% 6.6% 5.4%

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

All information as of September 30, 2013
TENNESSEE

Keep My Tennessee Home

Total Allocation = $217.3 million

PROGRAMS:

• Hardest Hit Fund Program – Provides monthly mortgage 

payment and reinstatement assistance on behalf of 

homeowners who are delinquent on their mortgages as a 

result of unemployment, substantial underemployment, 

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

may qualify for stand-alone reinstatement assistance. 

RECENT ACTIVITY:

• Tennessee has seen a steady increase in applications and 

program approvals due partly to the extension of assistance 

implemented in early 2013. Data projections indicate they 

are approaching full commitment of program funds.

• Tennessee reported it had committed approximately 

$149.8 million on behalf of participants as of September 

30, 2013.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed 

September 2012 

Cumulative 

Program Funds 

Disbursed 

September 2013

12-Month 

Growth in 

Cumulative

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$23.6 million

(12.8% of program 

cap)

$61.6 million

(33.3% of program 

cap)

161.3% 22.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

September 2012

Cumulative 

Homeowners 

Assisted 

September 2013

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,234 4,601 106.0% 16.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

September 2012

Unemployment 

Rate 

September 2013

90+ Delinquency 

September 2012

90+ Delinquency 

September 2013

8.0% 8.4% 5.5% 4.8%

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

All information as of September 30, 2013