HARDEST HIT FUND

First Quarter 2014 Performance Summary
90+ Delinquency: Percentage of serviced loans 90 days or more past due or in the process of foreclosure 

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

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

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

administrative expenses

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

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

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

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

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

programs

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

(equal to funds disbursed)

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

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

homeowners through locally tailored programs administered by each respective housing finance agency (HFA) 

in order to help prevent foreclosures and stabilize housing markets. These areas were designated “hardest hit” 

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

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

serve as an additional resource for Hardest Hit Fund program information, performance data, and key 

economic and loan performance indicators. For more detailed information, including any reporting corrections 

or revisions that occurred subsequent to the quarter end, please see the official quarterly report posted on each 

HFA’s website accessible on the “State-by-State Information” page found here: www.treasury.gov/HHF.

Terms used in this Summary:

2
HARDEST HIT FUND

TOTAL ALLOCATION: $7.6 billion

DESCRIPTION:

• HFAs have implemented a number of different programs to help 

homeowners, including mortgage payment assistance, 

reinstatement, short sale/transition assistance, principal reduction 

and modification assistance, and blight elimination programs.

• As of March 31, 2014, there were 68 active programs across the 

19 HFAs. Approximately 66 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 $3.6 billion 

of their program funds (53.9% of program cap).

3

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$1.3 billion

(19.4% of

program cap)

$2.7 billion

(40.5% of

program cap)

106.7% 16.6%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

109,874 178,797 62.7% 10.5%

National Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

7.6% 6.7% 6.4% 5.0%

www.treasury.gov/HHF

All information as of March 31, 2014

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

Millions

Homeowners Assisted and Assistance Provided

Through March 31, 2014

Homeowners Assisted Assistance Provided ($ Millions)
ALABAMA

Alabama Hardest Hit Fund

Total Allocation = $162.5 million

PROGRAMS:

• Unemployment Assistance Program – Provides monthly 

mortgage payments and reinstatement assistance paid to the 

servicer on behalf of unemployed or underemployed 

homeowners.

• Short Sale Assistance Program – Provides assistance to 

facilitate a short sale for homeowners who are no longer 

able to afford their home. 

• Loan Modification Assistance Program – Provides a 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 increased marketing efforts in the first quarter of 

2014: AL HHF worked with PNC Mortgage to send a mass 

mailing to homeowners, launched a new digital ad 

campaign, and continued to promote the program at realtor 

and homeowner events throughout the state.

• Alabama reported it had committed approximately 

$31.7 million on behalf of participants as of March 31, 

2014.

4

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$18.9 million

(14.0% of

program cap)

$26.4 million

(19.5% of

program cap)

39.2% 7.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,492 3,297 32.3% 6.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

7.2% 6.7% 5.2% 4.7%

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

All information as of March 31, 2014
ARIZONA

Save Our Home Arizona

Total Allocation = $267.8 million

PROGRAMS:

• Principal Reduction Assistance – Provides principal 

reduction to facilitate a mortgage modification, recast, or a 

HARP or other eligible refinance.

• 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 February, Arizona expanded its Principal Reduction 

Assistance program to include severe negative equity as an 

eligible hardship for non-delinquent borrowers. 

• Arizona reported it had committed approximately $90.2 

million on behalf of participants as of March 31, 2014.

5

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$18.8 million

(8.1% of

program cap)

$62.2 million

(26.7% of

program cap)

230.7% 15.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,550 2,860 84.5% 10.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

7.9% 7.3% 3.8% 2.4%

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

All information as of March 31, 2014
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; principal curtailment may be used with an 

existing step-rate modification.

• Transition Assistance Program – Provides relocation 

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

or short sale.

• Community 2nd Mortgage Principal Reduction 

Program – Provides matched principal reduction to 

reduce or eliminate second mortgages or subordinate liens. 

C2MPRP is administered by Community HousingWorks. 

RECENT ACTIVITY:

• In February, California defunded the inactive Los Angeles 

Housing Department Principal Reduction program and 

reallocated those funds to its remaining programs. 

• California reported it had committed approximately 

$723.3 million on behalf of participants as of March 31, 

2014.

6

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$311.0 million

(17.0% of

program cap)

$633.3 million

(34.7% of

program cap)

103.6% 16.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

23,120 37,275 61.2% 11.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.4% 8.1% 4.5% 2.9%

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

All information as of March 31, 2014
DISTRICT OF COLUMBIA

HomeSaver Program – Closed to New Applicants

Total Allocation = $20.7 million

PROGRAMS: 

HomeSaver includes the following:

• Lifeline – Provides one-time reinstatement assistance to 

bring a delinquent mortgage current for unemployed or 

underemployed homeowners. Homeowners must have 

received unemployment benefits within 6 months of 

application or be earning substantially less income 

compared to their income prior to experiencing a financial 

hardship. 

• Mortgage Assistance – Provides monthly payment 

assistance on behalf of unemployed or underemployed 

homeowners who are unable to afford their monthly 

payments. 

• Restore – Provides one-time reinstatement assistance on 

behalf of previously unemployed or underemployed 

homeowners who are currently or newly able to afford their 

monthly mortgage payments. 

RECENT ACTIVITY:

• The District of Columbia closed its application portal in 

late 2013, anticipating full commitment of program funds. 

D.C. continued to process borrowers that applied to the 

Home Saver program before it closed to new applicants.

• The District of Columbia reported it had committed 

approximately $14.6 million on behalf of participants as 

of March 31, 2014.

7

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$8.5 million

(51.4% of

program cap)

$12.0 million

(72.1% of

program cap)

40.3% 8.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

493 669 35.7% 7.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.5% 7.5% 6.0% 5.5%

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

All information as of March 31, 2014
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:

• Florida continued to see elevated application volumes across 

its programs in the first quarter of 2014 following the launch 

of its Principal Reduction Program in September 2013. 

• Florida reported it had committed approximately $429.5 

million on behalf of participants as of March 31, 2014.

8

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$108.9 million

(11.4% of

program cap)

$292.3 million

(30.7% of

program cap)

168.5% 37.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

8,592 16,025 86.5% 16.2%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

7.5% 6.3% 15.0% 10.6%

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

All information as of March 31, 2014
GEORGIA

HomeSafe Georgia

Total Allocation = $339.3 million

PROGRAMS:

• Mortgage Payment Assistance – Provides monthly 

payment assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford 

their monthly payment. A homeowner may be eligible 

to receive additional assistance after reemployment. 

One-time reinstatement assistance may be available for 

homeowners who have regained employment and can 

afford their monthly mortgage payments but are unable 

to cure their mortgage delinquency.

• Mortgage Reinstatement Assistance – Provides 

assistance to reinstate a delinquent mortgage; may be 

used to enable a loan recast or permanent modification.

• Recast/Modification – Provides principal reduction 

with a loan recast or permanent modification to create 

an affordable mortgage payment.

RECENT ACTIVITY:

• Georgia continued to pursue outreach opportunities 

with servicers and partner agencies and launched a 

significant outreach campaign promoting its new 

Recast/Modification program in the first quarter.

• Georgia reported it had committed approximately 

$96.1 million on behalf of participants as of March 

31, 2014.

9

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$31.7 million

(10.2% of

program cap)

$71.0 million

(24.3% of

program cap)

124.0% 13.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,887 4,770 65.2% 7.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.4% 7.0% 6.3% 4.6%

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

All information as of March 31, 2014
ILLINOIS

Illinois Hardest Hit Program – HELP Program Closed to New Applicants

Total Allocation = $445.6 million

PROGRAMS:

• Homeowner Emergency Loan Program – Provides

monthly mortgage payment and reinstatement 

assistance on behalf of unemployed and underemployed 

homeowners. Homeowners must contribute a portion 

of their monthly income.

• Mortgage Resolution Fund Program – Through a 

public-private partnership, provides funds to facilitate 

modifications for delinquent and distressed mortgages 

purchased from lenders. Modified/rehabilitated loans 

are subsequently sold. This buy-and-modify program 

targets six Chicago metro area counties. 

• Home Preservation Program – Provides principal 

reduction or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

RECENT ACTIVITY:

• On March 27, Illinois announced plans to introduce a 

Blight Reduction Program which will provide up to 

$35,000 for the demolition, greening, and maintenance 

of blighted properties in order to stabilize 

neighborhoods and prevent avoidable foreclosures. 

• Illinois reported it had committed approximately 

$324 million on behalf of participants as of March 

31, 2014.

10

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$101.6 million

(26.6% of

program cap)

$237.3 million

(62.2% of

program cap)

133.5% 16.2%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,181 12,762 77.7% 10.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.5% 8.4% 8.9% 6.7%

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

All information as of March 31, 2014
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.

• Blight Elimination Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties 

throughout the state.

RECENT ACTIVITY:

• In February, Indiana began accepting applications under its 

Blight Elimination Program. Successful applicants will 

work with ICHDA carry out blight elimination activities to 

stabilize neighborhoods and prevent avoidable foreclosures.

• Indiana reported it had committed approximately $76.9 

million on behalf of participants as of March 31, 2014.

11

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$14.5 million

(7.6% of

program cap)

$35.3 million

(18.4% of

program cap)

142.9% 19.4%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,541 3,116 102.2% 14.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.7% 5.9% 6.7% 5.4%

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

All information as of March 31, 2014
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 reemployment or substantially increased employment. 

RECENT ACTIVITY:

• Kentucky saw steady application volumes and 

continued its outreach efforts in the first quarter, 

promoting its program in unemployment offices 

throughout the state.

• Kentucky reported it had committed 

approximately $133.1 million on behalf of 

participants as of March 31, 2014.

12

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$34.9 million

(26.1% of

program cap)

$59.1 million

(44.3% of

program cap)

69.3% 10.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,547 5,368 51.3% 10.1%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.0% 7.9% 5.6% 4.8%

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

All information as of March 31, 2014
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 steady growth in application volumes under 

its programs and increased blight elimination activity 

toward the end of the first quarter.

• Michigan reported it had committed approximately 

$149.1 million on behalf of participants as of March 31, 

2014.

13

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$65.8 million

(15.0% of

program cap)

$146.3 million

(33.4% of

program cap)

122.5% 15.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

10,739 19,318 79.9% 12.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.5% 7.5% 4.8% 3.7%

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

All information as of March 31, 2014
MISSISSIPPI

Mississippi Home Saver Program

Total Allocation = $101.9 million

PROGRAMS: 

Mississippi Home Saver includes the following:

• Mortgage Payment Assistance – Provides reinstatement 

and monthly mortgage payment assistance on behalf of 

unemployed or substantially underemployed homeowners 

who are at risk of default or losing their home.

• Mortgage Payment Assistance with Education –

Provides additional assistance for homeowners who enroll 

in an eligible education program to improve their job 

skills. Borrowers in distressed counties may be eligible 

for additional assistance following completion of the 

educational program. 

• Reinstatement Only – Provides reinstatement assistance 

for homeowners who have recently regained employment. 

Assistance may be applied to delinquent mortgage 

payments, property taxes, and/or escrow shortage fees.

RECENT ACTIVITY:

• Mississippi continued to see steady application volumes 

and borrower approvals this quarter due to direct mailings, 

paid media, and increased web marketing activities 

initiated in late 2013.

• Mississippi reported it had committed approximately 

$44.8 million on behalf of participants as of March 31, 

2014.

14

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$12.9 million

(14.9% of

program cap)

$28.7 million

(33.1% of

program cap)

121.6% 17.9%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

1,237 2,221 79.6% 8.8%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.4% 7.6% 6.8% 6.2%

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

All information as of March 31, 2014
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.

• 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:

• Nevada continued to process applications received after reopening its mortgage payment and reinstatement assistance 

program in August 2013.

• Nevada reported it had committed approximately $84.4 

million on behalf of participants as of March 31, 2014.

15

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$51.2 million

(30.3% of

program cap)

$82.0 million

(48.5% of

program cap)

60.4% 2.3%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,761 5,202 38.3% 4.3%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.7% 8.5% 10.6% 7.3%

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

All information as of March 31, 2014
NEW JERSEY

New Jersey HomeKeeper Program – Closed to New Applicants

Total Allocation = $300.5 million

PROGRAMS:

• New Jersey HomeKeeper Program – Provides 

reinstatement and monthly mortgage payment assistance 

on behalf of unemployed 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 administer its program and 

process borrowers under review after closing its 

application portal on November 30, 2013. 

• New Jersey reported it had committed approximately 

$220 million on behalf of participants as of March 31, 

2014.

16

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$46.2 million

(17.6% of

program cap)

$151.5 million

(57.9% of

program cap)

227.9% 18.5%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,610 5,473 109.7% 6.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.0% 7.2% 13.2% 11.7%

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

All information as of March 31, 2014
NORTH CAROLINA

NC Foreclosure Prevention Fund

Total Allocation = $482.8 million

PROGRAMS: 

• Mortgage Payment Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf 

of unemployed and other eligible homeowners who are 

unable to afford their monthly mortgage payments. 

Homeowners who are in job training/education programs 

may receive an extended term of assistance. Reinstatement 

is available for eligible homeowners who have regained 

employment and can afford their monthly payment 

provided they can bring their mortgage current.

• Second Mortgage Refinance Program – Provides 

assistance for the extinguishment of second mortgages to 

reduce the homeowner’s monthly mortgage payment and to 

facilitate a first mortgage refinance or HAMP modification.

• Modification Enabling Pilot Program – Provides funds to 

facilitate modifications for eligible mortgages purchased in 

a distressed asset sale. Principal reduction may be matched 

with non-program funds to facilitate a mortgage 

modification.

RECENT ACTIVITY:

• In January, North Carolina celebrated a program milestone 

of assisting more than 15,000 struggling homeowners. 

North Carolina increased its online presence by sending email blasts, engaging in social media, and launching two 

new web-based advertising campaigns.

• North Carolina reported it had committed 

approximately $283.3 million on behalf of participants 

as of March 31, 2014.

17

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$142.1 million

(33.8% of

program cap)

$238.2 million

(56.6% of

program cap)

67.6% 9.8%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

11,134 15,973 43.5% 6.9%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.2% 6.3% 5.0% 3.9%

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

All information as of March 31, 2014
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 February, Ohio announced the first round of partners approved 

to carry out eligible blight elimination activities under its 

Neighborhood Initiative Program, and announced plans to close 

its application portal on April 30.

• Ohio reported it had committed approximately $379.3 million 

on behalf of participants as of March 31, 2014.

18

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$120.9 million

(24.2% of

program cap)

$256.3 million

(49.9% of

program cap)

112.0% 20.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

10,115 18,094 78.9% 14.7%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

7.1% 6.1% 7.1% 5.7%

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

All information as of March 31, 2014
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 

statewide to facilitate a refinance with lower monthly 

mortgage payments.

RECENT ACTIVITY: 

• In February, Oregon expanded its Rebuilding American 

Homeownership Assistance Pilot Project statewide and 

expanded loan eligibility criteria to better meet homeowner 

needs.

• Oregon reported it had committed approximately $149.2 

million on behalf of participants as of March 31, 2014.

19

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$93.0 million

(51.4% of

program cap)

$139.1 million

(76.9% of

program cap)

49.6% 8.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

7,787 9,856 26.6% 5.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.2% 6.9% 5.6% 4.6%

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

All information as of March 31, 2014
RHODE ISLAND

Hardest Hit Fund Rhode Island – Closed to New Applicants

Total Allocation = $79.3 million

PROGRAMS: 

• Loan Modification Assistance – Provides assistance to 

facilitate mortgage modifications for homeowners who are 

ineligible for HAMP or other modifications. Homeowners must 

contribute a minimum partial payment each month.

• Temporary and Immediate Homeowner Assistance –

Provides reinstatement or other mortgage-related default 

assistance, or monthly mortgage payments on behalf of 

homeowners experiencing a temporary loss of income. 

Homeowners must contribute a minimum partial payment each 

month.

• Moving Forward Assistance – Provides relocation assistance 

and the extinguishment of liens associated with a short sale or 

deed-in-lieu. 

• Mortgage Payment Assistance – Unemployment Program 

Provides monthly mortgage payment and reinstatement 

assistance on behalf of unemployed or underemployed 

homeowners. Homeowners must contribute a minimum partial 

payment each month.

• Principal Reduction Program – Provides principal reduction 

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

or lender to facilitate a mortgage modification.

RECENT ACTIVITY:

• In January, Rhode Island increased the maximum amount of 

assistance available per household under its mortgage payment, 

reinstatement, and loan modification assistance programs.

• Rhode Island reported it had committed approximately 

$65.4 million on behalf of participants as of March 31, 2014.

20

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$37.1 million

(54.7% of

program cap)

$56.7 million

(83.7% of

program cap)

53.0% 5.7%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

2,697 3,070 13.8% 0.4%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

9.1% 8.7% 7.5% 6.4%

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

All information as of March 31, 2014
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. 

• Modification Assistance Program – Provides principal 

reduction with a loan recast or modification to enable 

long-term, permanent affordability.

• Property Disposition Assistance Program – Provides 

assistance to offset relocation expenses incurred in 

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

RECENT ACTIVITY:

• In late January, South Carolina launched its new 

Modification Assistance Program as a pilot. SC HELP 

additionally launched its 2014 television advertising 

campaign statewide, and continued to send direct mailings 

to unemployed homeowners.

• South Carolina reported it had committed 

approximately $130.7 million on behalf of participants 

as of March 31, 2014.

21

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$59.3 million

(24.6% of

program cap)

$101.7 million

(42.1% of

program cap)

71.4% 13.1%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

5,133 7,425 44.7% 8.5%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

8.4% 5.5% 6.0% 4.8%

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

All information as of March 31, 2014
TENNESSEE

Keep My Tennessee Home

Total Allocation = $217.3 million

PROGRAMS:

• Hardest Hit Fund Program – Provides monthly 

mortgage payment and reinstatement assistance on 

behalf of homeowners who are delinquent on their 

mortgages as a result of unemployment, substantial 

underemployment, death of a spouse, or divorce. Reemployed homeowners may qualify for stand-alone 

reinstatement assistance. 

RECENT ACTIVITY:

• Tennessee sent direct mail postcards to targeted zip 

codes in the first quarter as part of its ongoing outreach 

and marketing efforts. 

• Tennessee reported it had committed approximately 

$202.8 million on behalf of participants as of March 

31, 2014.

22

Program Funds Disbursed

Cumulative 

Program Funds 

Disbursed

March 2013

Cumulative 

Program Funds 

Disbursed

March 2014

12-Month 

Growth in 

Cumulative 

Program Funds 

Disbursed

(%)

Quarterly 

Growth in 

Cumulative 

Program Funds 

Disbursed (%)

$39.6 million

(21.5% of

program cap)

$92.4 million

(50.0% of

program cap)

133.2% 20.0%

Homeowners Assisted

Cumulative 

Homeowners 

Assisted 

March 2013

Cumulative 

Homeowners 

Assisted 

March 2014

12-Month 

Growth in 

Cumulative 

Homeowners 

Assisted (%)

Quarterly

Growth in 

Cumulative 

Homeowners

Assisted (%)

3,258 6,023 84.9% 12.0%

State Economic and Loan Performance Indicators

Unemployment 

Rate 

March 2013

Unemployment 

Rate 

March 2014

90+ Delinquency 

March 2013

90+ Delinquency 

March 2014

7.9% 6.7% 5.1% 4.3%

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

All information as of March 31, 2014