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SC HRP Term Sheet

Last Updated: 3/16/22

SC State Housing Finance and Development Authority

SC Homeowner Rescue Program (“SC HRP”)

Consolidated Term Sheet

This Term Sheet contains the criteria and terms1 for the SC Homeowner Rescue Program, administered 

by the SC State Housing Finance and Development Authority (“SC Housing”). The program is being 

supported, in whole or in part, by federal award number HAFP011 awarded to the State of South Carolina 

by the US Department of Treasury (Treasury).

Program Overview The Homeowner Assistance Fund (HAF) was established under Section 3206 

of the American Rescue Plan Act of 2021 to mitigate financial hardships 

associated with the coronavirus pandemic by providing funds to eligible 

entities for the purpose of preventing homeowner mortgage delinquencies, 

defaults, foreclosures, loss of utilities or home energy services, and 

displacements of homeowners experiencing financial hardship after January 

21, 2020, through qualified expenses related to mortgages and housing.

Program Goal To provide financial assistance to Eligible Homeowners to eliminate or 

reduce past due expenses and one future payment per award associated with 

home ownership.

Scope of Program SC State Housing Finance and Development Authority (SC Housing) was 

allocated $144,650,807 by the U.S Department of Treasury. SC Housing will 

award this amount, less expenses for an initial Pilot Program and 

administrative program expenses. These funds will be administered through 

the South Carolina Homeowner Rescue Program (SC HRP). 

Eligible Homeowners “Eligible Homeowners” for the South Carolina Homeowner Rescue 

Program programs must meet the following criteria:

• Applicant must currently own and occupy an eligible property type as 

their primary residence.

• Applicant must attest that they experienced a Qualified Financial 

Hardship associated with the coronavirus pandemic that began or 

continued after January 21, 2020. 

• Applicant must provide all necessary documentation to satisfy 

program requirements within established timeframes, including 

self-certification or attestation of socially disadvantaged status as 

applicable. 

• Applicant has not already received assistance from CDBG-CV, 

Emergency Rental Assistance, the Low-Income Home Energy 

Assistance Program, or the Low-Income Home Water Assistance 

Program for the same expense, for the same period of time.

 1 Eligibility for SC HRP assistance can only be determined upon a review of a completed SC HRP application, and all 

required documentation. This Term Sheet is subject to being supplemented or otherwise amended at any time.
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SC HRP Term Sheet

Last Updated: 3/16/22

Co-borrowers

Bankruptcy

• For applicants requesting mortgage assistance, the original 

principal balance of the applicant’s mortgage loan was not greater 

than the conforming loan limit in effect at the time of origination.

Co-borrowers are not permitted to separately apply for SC HRP assistance.

Active bankruptcies must provide Trustee approval to participate in the 

program.

Eligible Legal 

Ownership Structures

“Eligible Legal Ownership Structures” include only the following:

• Those where the home is owned by a “natural person,” i.e., not a 

corporation, partnership, or other such entity

• Those where the applicant has transferred their ownership right into 

non-incorporated Living Trusts, provided the applicant occupies

the home as the primary/principal residence.

Qualified Financial 

Hardship

A “Qualified Financial Hardship” is a material reduction in income or 

material increase in living expenses associated with the coronavirus 

pandemic that has created or increased a risk of mortgage delinquency, 

mortgage default, foreclosure, loss of utilities (electric, gas, home energy, 

and water), or displacement for an applicant. The hardship must have either 

begun after January 21, 2020, or, if it began before, have continued after that 

date.

• Reduction of Income – Temporary or permanent loss of 

earned income.

• Unemployment– Temporary or permanent loss of 

employment.

• Death of a co-borrower.

• Material Increase in Living Expenses – Increase in out-ofpocket household expenses such as medical expenses, 

inadequate medical insurance, increase in household size, the 

need to care for a family member, or costs to reconnect utility 

services.

Under the South Caroline Homeowner Rescue Program, financial assistance 

includes assistance for mortgage payments, utilities, (electric, gas, home 

energy, and water), delinquent property taxes, down payment on loans 

provided by nonprofit or government entities, and mortgage reinstatement 

and other-housing related costs during a period of forbearance, delinquency, 

or default.

Homeowner

Income Eligibility 

Requirements

To be eligible for assistance under the South Carolina Homeowner Rescue 

Program, applicants must have household incomes equal to or less than 

100% of the national median income or 150% of the area median income, 

whichever is greater.
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SC HRP Term Sheet

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Homeowner 

Prioritization

SC HRP will prioritize 60% of program funds to applicants with household 

incomes equal to or less than 100% of the Area Median Income or equal to 

or less than 100% of the median income for the United States, whichever is 

greater. Assistance will also be prioritized to socially disadvantaged 

individuals (SDI’s), as defined in 13 CFR 124.103(c), or members of 

socially disadvantaged groups, as defined in 13 CFR 124.103(d).

Eligible Properties “Eligible Properties” are those that are occupied by the owner/borrower 

and/or co-owner/co-borrower, located in South Carolina, as their primary 

residence and are:

• Single-family (attached or detached) properties,

• Condominiums

• 1 to 4-unit properties where the applicant is living in one of the units 

as their primary residence, and

• Manufactured / Mobile homes

Ineligible properties:

• Vacant or abandoned properties

• Second homes

Eligible Uses of 

Program Proceeds 

Housing obligations as listed below are “Eligible Uses of South Carolina 

Homeowner Rescue Program Proceeds”:

• Existing mortgage lien loan payment (principal and interest) to 

include escrow when required. This is to include payment under a 

forbearance plan, on loans secured by manufactured / mobile homes, 

on a subordinate mortgage lien, or contracts for deed/land contracts;

• One future mortgage lien loan payment per award (i.e., one month of 

prospective mortgage assistance);

• Payment on down payment assistance loans provided by nonprofit or 

government entities;

• Delinquent Utilities - including electric, gas, home energy, and 

water;

• One future utility payment (up to $1,000, based on a reasonable 

monthly estimate of each utility.)

• Delinquent property taxes.

• Delinquent homeowner’s association (HOA) fees or liens, 

condominium association fees, or similar costs or charges payable 

under a unit occupancy agreement by a resident member/shareholder 

in a cooperative housing development.

Exhibit A of this Program Design contains the other Treasury-required 

guidelines, such as the maximum amount of assistance per household that 

this program will provide to each applicant for each type of qualified 

expense (“Per Item Maximum Amount”).

Maximum Per 

Household Assistance

SC HRP has a “Maximum Per Household HAF Assistance” equivalent to the 

total of the Per Item Maximum Amounts listed in Exhibit A for each eligible 

household.
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SC HRP Term Sheet

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Awards are limited to one-time payments per household in a 12-month 

period, not to exceed the program maximum of 36 months of assistance.

Further information regarding Assistance Maximums for each eligible use 

can be found in Exhibit A.

Assistance Type Assistance under SC HRP will be structured as a non-recourse grant.

Payout of SC HRP

Assistance

The SC HRP will disburse reinstatement funds directly to the mortgage 

lender/servicer, land contract holder, manufactured / mobile home 

lender/park, nonprofit or government entity servicing the down payment 

assistance loan, county treasurer or local taxing authority, and/or utility 

provider if the payee has agreed to participate.

The SC HRP will make no more than one award to each payee per household

within a 12-month period. Applicants may reapply for an additional (second) 

award 12 months after the date of their first award if program funds permit. 

The total of both awards may not exceed the 36-month total program limit.

The SC HRP will disburse the amount quoted by the payee; any 

discrepancies are to be resolved by the applicant and designated payee. 

If an applicant’s arrearage exceeds SC HRP program limits and the amount 

of approved SC HRP funds is insufficient to cure any arrearage or pay other 

outstanding amounts due under the mortgage loan, SC HRP will advise 

borrower to discuss with Servicer, borrower’s willingness, and ability, either 

directly or through other third parties, to supplement the available HAF 

funds to cure such arrearage or pay other outstanding amounts due under the 

mortgage loan. Servicer will not accept HAF funds unless it cures any 

arrearage or pays all outstanding amounts due under the mortgage loan. 

Payment Process 

Description

SC HRP assistance will be prioritized to Eligible Uses of South Carolina 

Homeowner Rescue Program Proceeds as follows:

1) Mortgage loan payments,

2) Down payment assistance loan payments,

3) Delinquent property taxes

4) Delinquent HOA fees or liens

5) Utilities

If an applicant has been brought current on all of the above expenses for 

which they applied and were eligible, an award may include the prepayment 

of one month of future mortgage assistance (“Additional Assistance”) not to 

exceed either the Maximum Per Household 

Assistance or Per Item Maximum Award Amounts listed in Exhibit A if

sufficient funds are available. This additional one-month prepayment does 

not apply to property taxes, as they are assessed annually. 

Program Launch The statewide program will commence not later than sixty (60) days 
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SC HRP Term Sheet

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following Treasury approval of this plan. SC HRP will announce when 

applications will be accepted no less than fourteen (14) calendar days prior 

to the program launch date. 

The SC HRP Program application will open at 9:00 AM (EST) on March 21, 

2022. The public was notified of this launch date on March 7, 2022, as 

required by Treasury.

Program Duration The period of performance for the SC HRP award begins on the date 

hereof and ends on September 30, 2026. Grantee shall not incur any 

obligations to be paid with the funding from this award after such 

period of performance ends.

SC HRP plans to disburse all funds by September 30, 2026.

Application Process Households requesting assistance through this program must apply for 

the program and submit the necessary information to establish 

eligibility. Applicants may have their applications populated with 

information from servicers, utility providers, government agencies, 

nonprofit organizations, or other relevant entities that fully or partially 

establish eligibility. All applicants, including those that have been prequalified, will be required to attest to an eligible hardship and other 

relevant eligibility criteria.

Applications will be accepted and reviewed in the order received and 

processed in the manner described in the Homeowner Prioritization 

section of this term sheet until funding for this program is exhausted. 

Applications will primarily be accepted online and will be available in 

the languages enumerated in the Public Communications and Targeting 

sections of this plan. Accommodations will be made to assist 

households in completing the online application as requested. A call 

center will be available to accept verbal applications from those who 

cannot use the online application process. 

Public 

Communications and 

Targeting

SC HRP is engaging in public communications strategies and campaigns to 

raise awareness among targeted populations – those to ensure broad and 

inclusive distribution of resources. 

In addition to English, SC HRP will undertake public communications to 

targeted populations in Spanish. Interpretation services will also be available 

through the SC HRP call center for those who require American Sign 

Language (ASL).

Required Application 

Documents

• Third Party Authorization Form (TPA); can be found on the SC 

HRP Applicant Portal.

• A Valid, Government-Issued Photo I.D. 

• Proof of Homeownership (copy of deed, property tax bill, etc.)
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SC HRP Term Sheet

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• Proof of Income (previous year’s tax return, W-2, 1099, etc.) Note: 

Applicants in 166 Low Income Zip Codes may self-attest that they 

meet income requirements. 

• Copies of the following for which assistance is being requested: the 

current mortgage statement for each lien, manufactured / mobile 

home statement or contract for deed agreement; the current utility 

bill; the current property tax bill; the current down payment 

assistance loan bill or statement; the current HOA statement 

showing past-due amounts.

• Applicant attestation certifying the occurrence of a qualifying

hardship.

• Applicant attestation certifying that they have not received 

assistance for the same expense from CDBG-CV, Emergency Rental 

Assistance, the Low-Income Home Energy Assistance Program, or 

the Low-Income Home Water Assistance Program.

Quality Control (QC) SC HRP will ensure program integrity by undertaking system-generated, 

random selection of case reviews after eligibility determination and prior to 

funding. Additionally, 40% of applications will be reviewed. These reviews 

will be conducted through the quality control process, which may be 

expanded if material errors and/or observed trends warrant.

SC HRP Assistance 

Approval and Funds 

Disbursement

Requests for assistance may not exceed the Maximum Per Household SC 

HRP Assistance amount of 36 months total. SC HRP will reconcile funding 

based on information provided on the application and the supporting 

documentation collected prior to authorizing payment.

Program Partner 

Requirements

• All partners will need to sign and return a Collaboration Agreement 

if requested by SC HRP (only applies to mortgage servicers).

• Lender/servicers must agree to communicate using the Common 

Data File (CDF) format to be provided by Treasury.

• Private non-mortgage lenders, including land contract and 

manufactured / mobile home lenders as well as non-profit and 

government issuers of down payment assistance loans, must provide 

a written delinquency quote and ACH account information. 

• Taxing authorities must provide a delinquent tax bill.

• Utility providers must provide ACH account information; the 

program will pay based on the most recent delinquency notice.

• All partners must provide a Vendor ID Number issued by South 

Carolina State Procurement.
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SC HRP Term Sheet

Last Updated: 3/16/22

Exhibit A

Eligible Uses of South 

Carolina Homeowner Rescue

Program Proceeds

Per Item Maximum Amount 

Per Applicant

Description of Intended 

Impact on Eligible 

Homeowners

Mortgage reinstatement A total of 36 months’ worth of

mortgage payments

Critical component of overall 

economic recovery intended to 

address the mission of 

sustaining homeownership while 

protecting citizens from the 

catastrophic negative impacts of 

the COVID-19 pandemic that 

were beyond their control.

Mortgage payment assistance One month of payments

(included in the 36 months’ 

worth of payments for mortgage 

assistance)

Allow homeowners to regain 

their financial footing before 

payments resume. Without this 

assistance, an immediate 

resumption of payment 

obligations may cause 

homeowners to fall back into 

arrears and negate the positive 

impacts of mortgage 

reinstatement, leading to 

homeowner displacement. 

Payment assistance for 

homeowners’ utilities

One-time reinstatement (within 

a 12-month period) for each 

eligible utility provider. Each 

disbursement will also include a 

one-month prospective payment 

(up to $1000 per utility 

provider) based on a reasonable 

monthly estimate of each utility.

Avoid significant cost burden on 

the budgets of families working 

to recover from the strains of 

COVID-19. Termination of 

services may result in the 

deterioration of the mortgaged 

property and may also lead to 

unsafe living conditions for 

families involved.

Payment assistance for down 

payment assistance loans

36 months’ worth of payments Avoid significant cost burden on 

the budgets of families working 

to recover from the strains of 

COVID-19. If down payment 

assistance loans go unpaid, it 

may result in homeowner 

displacement.

Payment assistance for 

delinquent property taxes

One-time reinstatement Avoid significant cost burden on 

the budgets of families working 
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SC HRP Term Sheet

Last Updated: 3/16/22

to recover from the strains of 

COVID-19. Real property taxes 

that go unpaid may result in 

delinquent tax sales, evictions,

and/or tax liens that could take 

priority over existing mortgages.

 

Delinquent homeowner’s 

association (HOA) fees or liens

One-time reinstatement plus one 

prospective month when 

requested by applicant.

Avoid significant cost burden on 

the budgets of families working 

to recover from the strains of 

COVID-19. If HOA fees or liens 

go unpaid, it may result in

homeowner displacement.