HARDEST HIT FUND

Fourth Quarter 2020 Performance Summary
Program Funds: Program funds are equal to the HFA’s total HHF allocation cap, less permitted administrative expenses.

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

total HHF allocations.

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

payment and blight elimination programs.

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

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

blight elimination programs.

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

HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY

Background and Glossary of Terms

2

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

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

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

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

• On February 19, 2016, Treasury announced an additional $2 billion allocation to HHF, for a total allocation of $9.6 billion. 

States are required to finalize any decisions with respect to underwriting homeowner assistance or blight elimination 

projects by June 30, 2021.

• 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 and performance data. 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:

Total Program Income: Total repaid funds generated by HHF program activities.
HARDEST HIT FUND All information as of December 31, 2020

Total Allocation = $9.6 billion

Total Program Income = $0.545 billion

DESCRIPTION:

• HFAs have implemented a number of different 

programs, including mortgage payment 

assistance, reinstatement, short sale/transition 

assistance, principal reduction and 

modification assistance, down payment 

assistance, and blight elimination programs.

• As of December 31, 2020, HHF has disbursed 

funds on behalf of 91 programs. 16 states 

continue to provide assistance, 3 states 

(California, Florida, and South Carolina) have 

closed and completed its final repayment to 

Treasury. Most of this assistance has been 

provided from HHF mortgage payment and 

reinstatement programs; which assist 

borrowers suffering a financial hardship 

typically related to either unemployment or 

underemployment.

• In the aggregate, states have disbursed $8.7 

billion of their program funds from 

Treasury ($9.7 billion in total program and 

administrative funds) and have assisted 

415,311 homeowners. 3

Homeowners Assisted and Assistance Provided

As of December 31, 2020

$8.7 Billion

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

$10

2012 2013 2014 2015 2016 2017 2018 2019 2020

Billions

Assistance Provided Homeowners Assisted
HHF FUNDS DRAWN TO DATE

Of the $9.6 billion allocated to HHF, HFAs have drawn from Treasury $9.5 billion, or 99.0%, as 

of 12/31/2020. HFAs must have no more than 5% of their total allocation on hand when 

requesting funds. 

4

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

Florida

California

Illinois

North Carolina

Rhode Island

New Jersey

Tennessee

Michigan

Arizona

Ohio

Oregon

Georgia

Nevada

Indiana

South Carolina

Kentucky

Mississippi

Washington D.C.

Alabama

HFA (% Cap Drawn)
HARDEST HIT FUND All information as of December 31, 2020

TOTAL ALLOCATION: $9.6 billion

5

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

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

Assistance Provided as a Percent of Program Allocation

Assistance Provided 12/31/19 Assistance Provided 12/31/19 - 12/31/20
ACTIVE PROGRAMS BY HFA

7

State

Mortgage 

Payment 

Assistance

Reinstatement1 Transition 

Assistance2

Principal 

Reduction3

Blight 

Elimination

Down Payment 

Assistance

AL     

AZ     

CA    

DC   

FL    

GA    

IL     

IN     

KY   

MI     

MS   

NC    

NJ    

NV     

OH     

OR   

RI     

SC      

TN     

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

of 12/31/2020 appear in striped gradient. 

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

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

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

The chart below illustrates the total funds disbursed by program type as of 12/31/2020. Over 

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

to developments in their respective housing markets. HHF programs have assisted 415,311 

homeowners and demolished and greened 45,063 blighted properties.

7

Mortgage Payment 

and Reinstatement 

Assistance, 54%

Principal 

Reduction, 18%

Blight Elimination, 

7%

Down Payment 

Assistance, 10%

Transition 

Assistance, < 1%

Administrative 

Expenses , 10%

Assistance % by Program Type
ALABAMA All information as of December 31, 2020

Alabama Hardest Hit Fund

8

Total Allocation = $162.5 million

Total Program Income = $2.2 million

PROGRAMS:

• Unemployment Assistance Program – Provides monthly 

mortgage payments and reinstatement assistance on behalf of 

homeowners who are unable to afford their monthly mortgage 

payment due an employment-related or other eligible financial 

hardship. 

• Short Sale Assistance Program (Closed) – Provides 

assistance to facilitate a short sale for homeowners who are no 

longer able to afford their home. 

• Loan Modification Assistance Program (Closed) – Provides 

principal reduction assistance to facilitate a modification, 

recast, or fully extinguish low-balance liens for eligible 

homeowners. The assistance must result in an affordable 

monthly mortgage payment.

• Blight Elimination Program (Closed) – Prevents 

foreclosures through the demolition, greening, and ongoing 

maintenance of vacant and abandoned blighted residential 

properties throughout the state. 

PROGRAM UPDATES:

• Alabama has drawn approximately $110.0 million from 

Treasury as of December 31, 2020.

$89.1

$0

$20

$40

$60

$80

$100

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

8,116

0

2,000

4,000

6,000

8,000

10,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
ARIZONA All information as of December 31, 2020

Save Our Home Arizona

9

Total Allocation = $296.1 million

Total Program Income = $17.8 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 enable a first mortgage modification or a 

short sale.

• Unemployment/Underemployment/Reinstatement Mortgage 

Assistance – Provides monthly mortgage payments and/or 

reinstatement assistance on behalf of unemployed or 

underemployed homeowners. Homeowners must contribute a 

portion of their monthly income.

• Short Sale Assistance (Closed) – Provides assistance to facilitate 

a short sale, including closing costs and/or lien extinguishment. A 

limited amount of funds may be paid directly to the homeowner for 

transition assistance. Assistance may also be used to facilitate a 

short sale with lease-to-own option on select transactions.

• Down Payment Assistance Program (Closed) – Prevents 

foreclosures by stimulating home purchase activity and stabilizing 

neighborhoods in targeted areas that continue to demonstrate high 

levels of housing market distress.

PROGRAM UPDATES:

• Arizona has drawn approximately $296.1 million from Treasury as 

of December 31, 2020.

$267.7

$0

$100

$200

$300

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

11,583

0

5,000

10,000

15,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
CALIFORNIA All information as of December 31, 2020

Keep Your Home California

10

Total Allocation = $2.360 billion

Total Program Income = $0.176 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program (Closed) –

Provides monthly mortgage payment and reinstatement 

assistance on behalf of unemployed or underemployed 

homeowners.

• Mortgage Reinstatement Assistance Program (Closed) –

Provides assistance to reinstate a delinquent mortgage.

• Principal Reduction Program (Closed) – Provides principal 

reduction with a loan recast or modification with a rate 

reduction; may provide principal curtailment for homeowners 

with severe negative equity.

• Transition Assistance Program (Closed) – Provides 

relocation assistance in conjunction with a deed-in-lieu or short 

sale.

• Community 2nd Mortgage Principal Reduction Program 

(Closed) – Provides matched principal reduction to reduce or 

eliminate second mortgages or subordinate liens. C2MPRP is 

administered by Community HousingWorks. 

• Reverse Mortgage Assistance Pilot Program (Closed) –

Provides funds to reinstate delinquent property taxes or liens 

for eligible homeowners.

PROGRAM UPDATES:

• On May 29, 2020, California completed its final repayment to 

Treasury in accordance with the terms and conditions of the 

HFA Participation Agreement.

• California has drawn approximately $2.36 billion from 

Treasury as of December 31, 2020.

$2,233.5

$0

$1,000

$2,000

$3,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

79,803

0

20,000

40,000

60,000

80,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
D All information as of December 31, 2020 ISTRICT OF COLUMBIA

HomeSaver Program

11

Total Allocation = $28.8 million

Total Program Income = $1.5 million

PROGRAMS: 

• HomeSaver Program (Closed) – Provides monthly payment 

and reinstatement assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford their 

monthly payments. Reinstatement-only assistance may be 

available for recently re-employed homeowners.

• Recast/Lien Extinguishment Program (Closed) – Provides 

principal reduction assistance to facilitate a recast or fully 

extinguish low-balance liens for eligible homeowners.

PROGRAM UPDATES:

• The District of Columbia has drawn approximately $24.0 

million from Treasury as of December 31, 2020.

$18.9

$0

$5

$10

$15

$20

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

880

0

500

1,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
FLORIDA All information as of December 31, 2020

Florida Hardest Hit Fund

12

Total Allocation = $1.137 billion

Total Program Income = $0.038 billion

PROGRAMS:

• Unemployment Mortgage Assistance Program (Closed) –

Provides monthly payment assistance on behalf of 

homeowners who are unable to afford their monthly 

mortgage payment due an eligible financial hardship. 

• Mortgage Loan Reinstatement Program (Closed) –

Provides assistance to reinstate a delinquent mortgage.

• Modification Enabling Pilot Program (Closed) – Provides 

funds to facilitate modifications for eligible distressed 

mortgages. Principal reduction may be matched with nonprogram funds to facilitate a mortgage modification.

• Principal Reduction Program (Closed) – Provides principal 

reduction for a current homeowner with a loan recast or 

refinance to reduce a homeowner’s monthly payment.

• Elderly Mortgage Assistance Program (Closed) – Provides 

funds to reinstate delinquent property taxes or liens for 

eligible homeowners who have received the maximum 

benefit from their reverse mortgages.

• Down Payment Assistance Program (Closed) – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• On January 29, 2020, Florida completed its final repayment 

to Treasury in accordance with the terms and conditions of 

the HFA Participation Agreement.

• Florida has drawn approximately $1.137 billion from 

Treasury as of December 31, 2020.

$1,078.5

$0

$500

$1,000

2012 2013 2014 2015 2016 2017 2018 2019

Millions

Total Assistance Provided

54,438

0

20,000

40,000

60,000

2012 2013 2014 2015 2016 2017 2018 2019

Homeowners Assisted
GEORGIA All information as of December 31, 2020

HomeSafe Georgia

13

Total Allocation = $370.6 million

Total Program Income = $17.2 million

PROGRAMS:

• Mortgage Payment Assistance (Closed) – Provides 

monthly payment assistance on behalf of unemployed or 

underemployed homeowners who are unable to afford their 

monthly payment. A homeowner may be eligible to receive 

additional assistance after reemployment. One-time 

reinstatement assistance may be available for homeowners 

who have regained employment and can afford their 

monthly mortgage payments but are unable to cure their 

mortgage delinquency.

• Mortgage Reinstatement Assistance (Closed) – Provides 

assistance to reinstate a delinquent mortgage.

• Recast/Modification (Closed) – Provides principal 

reduction with a loan recast or permanent modification to 

create an affordable mortgage payment. Principal 

curtailment is available for severely underwater 

homeowners who are current on their mortgage payments.

• Down Payment Assistance Program – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• Georgia has drawn approximately $370.6 million from 

Treasury as of December 31, 2020.

$330.0

$0

$120

$240

$360

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

17,067

0

6,000

12,000

18,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
ILLINOIS All information as of December 31, 2020

Illinois Hardest Hit Program

14

Total Allocation = $715.6 million

Total Program Income = $48.7 million

PROGRAMS:

• Homeowner Emergency Loan Program (Closed) –

Provides monthly mortgage payment and reinstatement 

assistance on behalf of homeowners who are unable to afford 

their monthly payment due to an eligible financial hardship. 

Reinstatement assistance can include reverse mortgage 

assistance.

• Mortgage Resolution Fund Program (Closed) – Through a 

public-private partnership, provided funds to facilitate 

modifications of delinquent and distressed mortgages 

purchased from lenders. Modified/rehabilitated loans are 

subsequently sold. This buy-and-modify program targeted 

six Chicago metro area counties.

• Home Preservation Program (Closed) – Provides principal 

reduction with reinstatement assistance (as needed) to 

facilitate a refinance. Illinois no longer offers recast or 

mortgage modifications under this program.

• Blight Reduction Program (Closed) – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties 

throughout the state.

• Down Payment Assistance Program (Closed) – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• Illinois has drawn approximately $715.6 million from 

Treasury as of December 31, 2020.

$681.8

$0

$250

$500

$750

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

41,438

0

15,000

30,000

45,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
INDIANA All information as of December 31, 2020

Indiana Hardest Hit Fund

15

Total Allocation = $284.0 million

Total Program Income = $12.8 million

PROGRAMS:

• Unemployment Bridge Program – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

homeowners who are unable to afford their monthly payment 

due to an eligible financial hardship. Reinstatement-only 

assistance is available for recently re-employed homeowners.

• Recast/Modification Program (Closed) – Provides principal 

reduction and/or reinstatement assistance as a one-time 

payment to facilitate a loan recast or permanent loan 

modification.

• Transition Assistance Program (Closed) – Provides 

relocation assistance for homeowner expenses and the 

extinguishment of subordinate liens associated with a short 

sale or deed-in-lieu.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties throughout the 

state.

PROGRAM UPDATES:

• Indiana has drawn approximately $284.0 million from 

Treasury as of December 31, 2020.

$232.6

$0

$100

$200

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

11,347

0

6,000

12,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
KENTUCKY All information as of December 31, 2020

Protect My Kentucky Home

16

Total Allocation = $207.2 million

Total Program Income = $10.8 million

PROGRAMS:

• Kentucky Unemployment Bridge Program (Closed) –

Provides monthly mortgage payment and reinstatement 

assistance on behalf of unemployed, substantially 

underemployed, or qualified disabled homeowners who are 

delinquent on their mortgages. Assistance may be provided 

for up to two months following re-employment or 

substantially increased employment. 

• Hardest Hit Fund Down Payment Assistance Program 

(Closed) – Prevents foreclosures by stimulating home 

purchase activity and stabilizing neighborhoods in targeted 

areas that continue to demonstrate high levels of housing 

market distress.

PROGRAM UPDATES:

• Kentucky has drawn approximately $184.5 million from 

Treasury as of December 31, 2020.

$174.5

$0

$75

$150

$225

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

12,933

0

5,000

10,000

15,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
M All information as of December 31, 2020 ICHIGAN

Step Forward Michigan

17

Total Allocation = $761.6 million

Total Program Income: $20.5 million

PROGRAMS:

• Principal Curtailment Program (Closed) – Provides 

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

lender to facilitate a mortgage modification. 

• Loan Rescue Program (Closed) – Provides assistance to 

reinstate a delinquent mortgage. Assistance may also be used 

to reinstate delinquent property taxes and other arrearage fees.

• Unemployment Mortgage Subsidy Program (Closed) –

Provides monthly mortgage payment and reinstatement 

assistance on behalf of unemployed and underemployed 

homeowners. Homeowners must contribute a portion of their 

monthly income. 

• Modification Plan Program (Closed) – Provides assistance 

to facilitate a mortgage modification or recast.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties in targeted 

municipalities throughout the state. 

• Down Payment Assistance Program – Prevents foreclosures 

by stimulating home purchase activity and stabilizing 

neighborhoods in targeted areas that continue to demonstrate 

high levels of housing market distress.

PROGRAM UPDATES:

• Michigan has drawn approximately $761.6 million from 

Treasury as of December 31, 2020.

$715.2

$0

$250

$500

$750

$1,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

41,056

0

15,000

30,000

45,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
M All information as of December 31, 2020 ISSISSIPPI

Mississippi Home Saver Program

18

Total Allocation = $144.4 million

Total Program Income = $1.8 million

PROGRAMS: 

• Home Saver Program (Closed) – Provides reinstatement and 

monthly mortgage payment assistance on behalf of 

homeowners who are at risk of default or losing their home 

due to unemployment or other eligible financial hardship. 

Reinstatement-only assistance is available for recently reemployed homeowners.

• Blight Elimination Program – Prevents foreclosures through 

the demolition, greening, and ongoing maintenance of vacant 

and abandoned blighted residential properties.

PROGRAM UPDATES:

• Mississippi has drawn approximately $127.1 million from 

Treasury as of December 31, 2020.

$102.3

$0

$50

$100

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

5,327

0

2,000

4,000

6,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
NEVADA All information as of December 31, 2020

Nevada Hardest Hit Fund

19

Total Allocation = $196.2 million

Total Program Income = $4.4 million

PROGRAMS:

• Principal Reduction Program (Closed) – Provides principal reduction 

assistance to facilitate a mortgage modification, recast, or a HARP or 

other eligible refinance. Principal curtailment may be available for 

severely underwater homeowners who are current on their mortgage 

payments.

• Second Mortgage Reduction Plan (Closed) – Reduces or extinguishes 

a second mortgage balance to facilitate a refinance or modification of 

the primary mortgage or a short sale.

• Short Sale Acceleration Program (Closed) – Provides transition 

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

sale or deed-in-lieu.

• Mortgage Assistance Program – Provides monthly mortgage payment 

assistance on behalf of unemployed or underemployed homeowners.

• Mortgage Assistance Program Alternative (Closed) – Provides 

monthly mortgage payment and reinstatement assistance for 

homeowners on a fixed income due to retirement or disability. 

Homeowners must contribute a minimum partial payment.

• Mortgage Reinstatement Assistance Program (MRAP) (Closed) –

Provides assistance to reinstate a delinquent mortgage.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods in 

targeted areas that continue to demonstrate high levels of housing 

market distress.

PROGRAM UPDATES:

• In the fourth quarter, Nevada received approval to adjust its program 

eligibility criteria.

• Nevada has drawn approximately $196.2 million from Treasury as of 

December 31, 2020.

$166.0

$0

$75

$150

$225

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

8,759

0

3,000

6,000

9,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
NEW JERSEY All information as of December 31, 2020

New Jersey HomeKeeper Program

20

Total Allocation = $415.5 million

Total Program Income = $19.1 million

PROGRAMS:

• New Jersey HomeKeeper Program (Closed) – Provides 

reinstatement and monthly mortgage payment assistance on 

behalf of unemployed and underemployed homeowners. 

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

training that will enable them to resume making their mortgage 

payments in full.

• New Jersey Home Saver Program (Closed) – Provides 

principal reduction and/or reinstatement assistance to facilitate a 

refinance, recast, or permanent mortgage modification.

• New Jersey HomeSeeker Down Payment Assistance 

Program – Prevents foreclosures by stimulating home purchase 

activity and stabilizing neighborhoods in targeted areas that 

continue to demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• New Jersey has drawn approximately $415.5 million from 

Treasury as of December 31, 2020.

$366.4

$0

$150

$300

$450

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

12,174

0

6,000

12,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
NORTH CAROLINA All information as of December 31, 2020

NC Foreclosure Prevention Fund

21

Total Allocation = $706.9 million

Total Program Income = $66.8 million

PROGRAMS: 

• Mortgage Payment Program (Closed) – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

unemployed and other eligible homeowners who are unable to 

afford their monthly mortgage payments. 

• Second Mortgage Refinance Program (Closed) – Provides 

assistance for the extinguishment of second mortgages to 

reduce the homeowner’s monthly mortgage payment.

• Modification Enabling Pilot Program (Closed) – Provides 

funds to facilitate modifications for eligible mortgages 

purchased in a distressed asset sale. Principal reduction may 

be matched with non-program funds to facilitate a mortgage 

modification.

• Principal Reduction Recast/Lien Extinguishment for 

Unaffordable Mortgages Program (Closed) – Provides 

principal reduction assistance to facilitate a recast or fully 

extinguish low-balance liens for eligible homeowners.

• Down Payment Assistance Program (Closed) – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• North Carolina has drawn approximately $706.9 million from 

Treasury as of December 31, 2020.

$621.6

$0

$250

$500

$750

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

33,186

0

15,000

30,000

45,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
OHIO All information as of December 31, 2020

Save the Dream Ohio

22

Total Allocation = $762.8 million

Total Program Income = $9.9 million

PROGRAMS: 

• Rescue Payment Assistance Program (Closed) – Provides 

reinstatement assistance to cure a mortgage delinquency.

• Mortgage Payment Assistance Program (Closed) – Provides 

monthly mortgage payment assistance on behalf of unemployed 

and underemployed homeowners.

• Modification with Contribution Assistance (Closed) –

Provides assistance to facilitate a permanent mortgage 

modification.

• Lien Elimination Assistance (Closed) – Provides assistance to 

extinguish mortgage liens to create an affordable payment.

• Transition Assistance Program (Closed) – Provides relocation 

assistance and the extinguishment of liens associated with a 

short sale or deed-in-lieu. 

• Homeowner Retention Assistance (Closed)– Provides 

assistance to extinguish subordinate liens and ancillary property 

expenses.

• Homeowner Stabilization Assistance Program (Closed) –

Leverages HHF funds and private capital to facilitate 

modifications for eligible mortgages purchased in a distressed 

asset sale.

• Neighborhood Initiative Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance of 

vacant and abandoned blighted residential properties.

PROGRAM UPDATES:

• Ohio has drawn approximately $734.8 million from Treasury as 

of December 31, 2020.

$700.5

$0

$250

$500

$750

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

27,300

0

10,000

20,000

30,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
OREGON All information as of December 31, 2020

Oregon Homeownership Stabilization Initiative

23

Total Allocation = $314.8 million

Total Program Income = $72.8 million

PROGRAMS: 

• Mortgage Payment Assistance Program – Provides monthly 

mortgage payment assistance on behalf of unemployed and 

underemployed homeowners.

• Loan Preservation Assistance Program – Provides 

reinstatement for delinquent mortgages, property taxes or other 

eligible property charges. Mortgage reinstatement under LPA 

may be combined with Mortgage Payment Assistance. 

• Loan Refinancing Assistance Pilot Project (Closed) –

Provides for the purchase of underwater mortgages at a 

discounted price to facilitate a modification, refinance, or a 

short sale. 

• Rebuilding American Homeownership Assistance Pilot 

Project (Closed) – Provides assistance to underwater 

homeowners statewide to facilitate a refinance with lower 

monthly mortgage payments.

• Principal Reduction/Lien Extinguishment (PR/LE) 

Program (Closed) – Provides principal reduction assistance to 

facilitate a recast or fully extinguish low-balance liens for 

eligible homeowners.

PROGRAM UPDATES:

• Oregon has drawn approximately $280.0 million from 

Treasury as of December 31, 2020.

$307.6

$0

$200

$400

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

16,763

0

6,000

12,000

18,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
RHODE ISLAND All information as of December 31, 2020

Hardest Hit Fund Rhode Island

24

Total Allocation = $116.0 million

Total Program Income = $4.6 million

PROGRAMS: 

• Loan Modification Assistance (Closed) – Provides principal 

reduction assistance to facilitate a recast, mortgage modification, or 

curtailment.

• Temporary and Immediate Homeowner Assistance (Closed) –

Provides assistance to reinstate a delinquent mortgage.

• Moving Forward Assistance (Closed) – 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 (Closed) – Provides principal 

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

servicer or lender to facilitate a mortgage modification.

• Down Payment Assistance Program – Prevents foreclosures by 

stimulating home purchase activity and stabilizing neighborhoods 

in targeted areas that continue to demonstrate high levels of 

housing market distress.

• Rhode Island Refi (Closed) – Provides principal reduction 

assistance to facilitate a refinance. 

PROGRAM UPDATES:

• Rhode Island has drawn approximately $116.0 million from 

Treasury as of December 31, 2020.

$101.2

$0

$50

$100

$150

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

6,087

0

2,500

5,000

7,500

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
SOUTH CAROLINA All information as of December 31, 2020

South Carolina Homeownership and Employment Lending Program (SC HELP)

25

Total Allocation = $317.7 million

Total Program Income = $8.8 million

PROGRAMS:

• Monthly Payment Assistance Program (Closed) – Provides 

monthly mortgage payment assistance for eligible households 

that are experiencing a temporary reduction in income or 

financial hardship.

• Direct Loan Assistance Program (Closed) – Provides 

reinstatement assistance, principal reduction, or forbearance 

reduction/elimination for homeowners who experienced a 

financial hardship but have regained the ability to pay their 

mortgage.

• Modification Assistance Program (Closed) – Provides 

principal reduction assistance to facilitate a recast or fully 

extinguish low-balance liens for eligible homeowners.

• Property Disposition Assistance Program (Closed) –

Provides assistance to offset relocation expenses incurred in 

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

• Neighborhood Initiative Program (Closed) – Prevents 

foreclosures through the demolition, greening, and ongoing 

maintenance of vacant and abandoned blighted residential 

properties.

• Down Payment Assistance Program (Closed) - Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

PROGRAM UPDATES:

• On November 2, 2020, South Carolina completed its final 

repayment to Treasury in accordance with the terms and 

conditions of the HFA Participation Agreement.

• South Carolina has drawn approximately $317.5 million from 

Treasury as of December 31, 2020.

$268.3

$0

$100

$200

$300

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

14,184

0

5,000

10,000

15,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted
TENNESSEE All information as of December 31, 2020

Keep My Tennessee Home

26

Total Allocation = $302.3 million

Total Program Income = $10.5 million

PROGRAMS:

• Hardest Hit Fund Program (Closed) – Provides monthly 

mortgage payment and reinstatement assistance on behalf of 

homeowners who are delinquent on their mortgages as a 

result of unemployment, substantial underemployment, 

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

may qualify for stand-alone reinstatement assistance. 

• Blight Elimination Program – Prevents foreclosures 

through the demolition, greening, and ongoing maintenance 

of vacant and abandoned blighted residential properties.

• Principal Reduction with Recast Program or Lien 

Extinguishment (Closed) – Provides principal reduction 

assistance to facilitate a recast or fully extinguish lowbalance liens for eligible homeowners.

• Down Payment Assistance Program (Closed) – Prevents 

foreclosures by stimulating home purchase activity and 

stabilizing neighborhoods in targeted areas that continue to 

demonstrate high levels of housing market distress.

• HHF Reinstatement Only Program – Provides assistance 

to reinstate a delinquent mortgage and mortgage-related 

expenses. 

PROGRAM UPDATES:

• In the fourth quarter, Tennessee received approval to adjust 

its program eligibility criteria and to reallocate funds from 

its administrative expense allocation to its program 

allocation.

• Tennessee has drawn approximately $302.3 million from 

Treasury as of December 31, 2020.

$267.7

$0

$100

$200

$300

2012 2013 2014 2015 2016 2017 2018 2019 2020

Millions

Total Assistance Provided

12,870

0

5,000

10,000

15,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Homeowners Assisted