Mortgage Reinstatement Program Term Sheet

Criteria Terms

Brief description Provide funds to eliminate or reduce past due payments and other delinquent amounts, including payments under a forbearance plan, on forward mortgages, 

reverse mortgages, loans secured by manufactured homes, or contracts for deed.

HAF Funds may be used to bring account fully current, with no remaining delinquent amounts, and to repay amounts advanced by the lender or servicer on the

Borrower’s behalf for property charges, including property taxes, hazard insurance premiums, flood or wind insurance premiums, condominium fees,

cooperative maintenance fees, planned unit development fees, homeowners’ association fees, and utilities or preservation fees the servicer advanced to 

protect lien position. Payment may also include any reasonably required legal fees.

HAF funds will be used only to supplement other loss mitigation options offered by the servicer under investor requirements, or where, without HAF 

funds, the homeowner would not qualify for available loss mitigation options. Eligible homeowners will be directed to work with their mortgage 

servicer first to ascertain eligibility for other assistance options available from federal agencies. 

Maximum amount of

assistance per homeowner

Each household will be eligible for up to $25,000 through this program to be used only for the homeowner’s primary residence.

Homeowner eligibility

criteria and documentation

requirements

General Eligibility Requirements: 

• Must be listed as a borrower or co-borrower on the mortgage (co-owners are not permitted to separately apply)

• Must attest to experiencing a Financial Hardship after January 21, 2020. The attestation must describe the nature of the Financial Hardship

• Must have a combined household income equal to or less than 150% Area Median Income, as published by Montana Housing based on household size

If applicable, the unpaid principal balance of the homeowner’s first mortgage was, at the time of origination, not greater than the Conforming Loan Limit

in effect at time of origination

Plus:

• Statement of current ability to resume any required regular payments after account is reinstated

• For reverse mortgages, homeowner is either in default due to property charges, or has entered a repayment plan to repay such charges

• Other loss mitigation options offered by the mortgage servicer must be exhausted prior to approval for the HAF program
Homeowner eligibility

criteria and documentation

requirements (continued)

Documentation requirements:

• Applicant must provide most current Mortgage Statement

• Applicant must provide most current income verification

• Applicant must provide Deed of Trust for the primary mortgage

• Applicant must upload and provide documentation from their mortgage servicer verifying that other loss mitigation options have been pursued.

Documentation may include a “No Help Letter’ or copy of current repayment plan

As a mortgage servicer, we are aware these are standard documents provided and should not create barriers to participation for eligible households.

Property eligibility 

criteria specific to the

program

The property must be in the State of Montana and be owner-occupied as the primary residence. In the case of a land contract or contract for deed, the 

property must be occupied by the documented buyer. 

The following property types are eligible:

• Single-family (attached or detached) properties;

• Condominium units;

• 1- to 4-unit properties where the homeowner is living in one of the units as their primary residence (EXCLUSION: homeowners of a 1-4 unit property that

have received payments on behalf of tenants from the Montana Emergency Rental Assistance Program are ineligible to receive assistance through the HAF

Program);

• Manufactured homes permanently affixed to real property and taxed as real estate;

• Mobile homes not permanently affixed to real property;

• Structure must be owned by a “natural person” (i.e., LLP, LP or LLC do not qualify);

• Homeowners who have transferred their ownership right into non-incorporated, Living Trusts are eligible.

Vacant or abandoned properties, second homes, and investment properties are not eligible.

Occupancy will be determined based on a self-certification and additional documentation to be provided by the homeowner, which may include a utility bill, 

property tax bill, tax return, deed, or any government issued document that includes name and address.

Loan eligibility criteria specific 

to the program

Delinquent by at least one payment, including any payments during a forbearance period or, in the case of a reverse mortgage, has outstanding property charges

whether in default or in repayment plan.
Form of assistance Assistance will be structured as an interest free loan with payments due in full when the first mortgage ends (repayment, refinance, transfer, sale).

Repayment is subject to review and Montana Housing may, based on homebuyer situation and needs at the time of repayment, require payment in full or 

establish a payment plan.

Loans will not be forgivable unless specific homebuyer situations arise such as a negative equity at sale of the property. Other loss mitigation options are in the 

form of repayable, deferred loans, and offering forgivable loans under this program would create inequity between the applicants for the HAF Program and 

those borrowers who qualify for other loss mitigation options provided by mortgage servicers. 

Payment requirements Funds will be paid, as applicable, to the mortgage servicer or other third-party payee authorized by the servicer, or other third party authorized to collect eligible 

charges in accordance with reinstatement instructions received from the payee.
Lien Prevention Grant Term Sheet

Criteria Terms

Brief description To prevent property tax foreclosure or remove, or prevent creation of other liens, (HOA, COA, lot rent etc.) that would place homeowner at imminent risk of 

displacement.

Maximum amount of

assistance per homeowner

Each household will be eligible for up to $5,000 through this program with respect to the applicant’s primary residence.

Program eligibility To ensure maximum flexibility to meet evolving homeowner needs, funds may be considered for the following:

• Delinquent property taxes to prevent homeowner tax foreclosures

• Homeowner Association dues, Condo Association fees, and/or other fees that can jeopardize homeownership if left unpaid

• Insurance and taxes outside of escrow

Assistance will be prioritized to prevent the creation of a lien which would place the homeowner at risk of displacement.

Homeowner eligibility

criteria and documentation

requirements

General Eligibility Requirements:

• Must be listed as an owner or co-owner on the mortgage (co-owners are not permitted to separately apply)

• Must attest to experiencing a Financial Hardship after January 21, 2020. The attestation must describe the nature of the Financial Hardship

• Must have a combined household income equal to or less than 150% Area Median Income, as published by Montana Housing based on household size

• If applicable, the unpaid principal balance of the homeowner’s first mortgage was, at the time of origination, not greater than the Conforming Loan Limit

in effect at time of origination

Documentation requirements:

• Applicant must provide statement or notice of delinquent taxes, dues, fees, or rents

• Applicant must provide most current income verification
Property eligibility 

criteria specific to the

program

The property must be in the state of Montana, and be owner-occupied as the primary residence. In the case of a land contract or contract for deed, the property 

must be occupied by the documented buyer. 

The following property types are eligible:

• Single-family (attached or detached) properties;

• Condominium units;

• 1- to 4-unit properties where the homeowner is living in one of the units as their primary residence (EXCLUSION: homeowners of a 1-4 unit property that

have received payments on behalf of tenants from the Montana Emergency Rental Assistance Program are ineligible to receive assistance through the HAF 

Program);

• Manufactured homes permanently affixed to real property and taxed as real estate;

• Mobile homes not permanently affixed to real property.

• Structure must be owned by a “natural person” (i.e., LLP, LP or LLC do not qualify)

• Homeowners who have transferred their ownership right into non-incorporated, Living Trusts are eligible.

Vacant or abandoned properties, second homes, and investment properties are not eligible.

Occupancy will be determined based on a self-certification and additional documentation to be provided by the homeowner, which may include a utility bill, 

property tax bill, tax return, deed, or any government issued document that includes name and address.

Form of Assistance Assistance will be structured as non-recourse grant. 

Payment requirements Funds will be paid, as applicable, to the third party entity to which they are due.
Utility Payment Assistance Term Sheet

Criteria Sample Terms

Brief description

Provide funds to resolve delinquent payments for utility services.

HAF funds may be used to pay delinquent amounts, including interest or reasonably required legal fees, under circumstances in which a delinquency threatens

access to utility services.

Funds may be used to pay past due utilities dating back to April 2020, and not more than three months of future utility payments, if the homeowner is unable to 

make such payments, and funds are not available from other utility assistance programs to cover these amounts. Maximum household utility assistance is $1,000.

Maximum assistance

per homeowner Each household will be eligible for up to $300 per month through this program, with a maximum assistance amount of $1,000, with respect to the applicant’s 

primary residence. Assistance will be prioritized focusing on prevention of utility shut-off and/or restoration of utilities first, past-due months utilities second, and up 

to three months future utilities with remaining funds. 

Homeowner eligibility

criteria and 

documentation

requirements

General Eligibility Requirements: 

• Must be listed as a borrower/owner or co-borrower/co-owner on the mortgage (co-owners are not permitted to separately apply)

• Must attest to experiencing a Financial Hardship after January 21, 2020. The attestation must describe the nature of the Financial Hardship

• Must have a combined household income equal to or less than 150% Area Median Income, as published by Montana Housing based on household size

• If applicable, the unpaid principal balance of the homeowner’s first mortgage was, at the time of origination, not greater than the Conforming Loan Limit

in effect at time of origination

Plus:

• Homeowner must qualify for either the Mortgage Reinstatement Program or the Lien Prevention Grant to receive utility assistance

• Homeowner is at least one installment payment in arrears on utilities, such as electric, gas, and/or home energy

• Assistance sufficient to resolve the delinquency is not available from other utility assistance programs and, without HAF assistance, the homeowner is

likely to lose services

Indicate documentation requirements: 

• Applicant must provide statement or notice of delinquent utility payments and/or utility shut-off notice
Form of Assistance Assistance will be structured as non-recourse grant.

Payment requirements Funds will be paid directly to the utility provider, or other applicable third-party authorized to collect eligible charges.
Internet/Broadband Payment Assistance Term Sheet

Criteria Sample Terms

Brief description

Provide funds to resolve delinquent payments for internet/broadband services. 

HAF funds may be used to pay delinquent amounts, including interest, or reasonably required legal fees, under circumstances in which a delinquency threatens

access to internet/broadband services. 

Funds may be used to pay past due internet/broadband service dating back to April 2020, and not more than three months of future utility payments if the 

homeowner is unable to make such payments, and funds are not available from other assistance programs to cover these amounts. Maximum household 

assistance for internet/broadband services is $150.

Maximum assistance per

homeowner Each household will be eligible for up to $50 per month, with a maximum internet/broadband assistance of $150, through this program with respect to the 

applicant’s primary residence. Assistance will be prioritized to focus on past months internet/broadband services, and up to three months future services with 

remaining household funds.

Homeowner eligibility

criteria and documentation

requirements

General Eligibility Requirements:

• Must be listed as a borrower or co-borrower on the mortgage (co-owners are not permitted to separately apply)

• Must attest to experiencing a Financial Hardship after January 21, 2020. The attestation must describe the nature of the Financial Hardship

• Must have a combined household income equal to or less than 150% Area Median Income, as published by Montana Housing based on household size

• If applicable, the unpaid principal balance of the homeowner’s first mortgage was, at the time of origination, not greater than the Conforming Loan Limit

in effect at time of origination

Plus:

• Homeowner must qualify for either the Mortgage Reinstatement Program or the Lien Prevention Grant to receive utility assistance

• Homeowner is at least one installment payment in arrears on internet/broadband service

• Assistance sufficient to resolve the delinquency is not available from other utility assistance programs and, without HAF assistance, the homeowner is

likely to lose services

Indicate documentation requirements: 

• Applicant must provide statement or notice of delinquent internet/broadband payments and/or internet shut-off notice
Form of Assistance Assistance will be structured as non-recourse grant.

Payment requirements Funds will be paid directly to the applicant.