A number of states are currently utilizing the Hardest Hit Fund, which was established in February 2010 to provide aid to families who were most affected by the economic and housing market downturn.
The U.S. Department of the Treasury has allocated $7.6 billion to 18 states so far and the District of Columbia. Each state housing agency has implemented the program to meet the distinct challenges of struggling homeowners in each individual state. The states that received this fund were chosen either because of low unemployment rates or steep home price declines greater than 20% since the housing market decline.
The program is designed to help families avoid foreclosure. The Hardest Hit Fund programs complement the Making Home Affordable Program, but they aren’t limited to homeowners eligible for Making Home Affordable.
Hardest Hit Fund programs will vary state to state, so go here to see if your state was chosen for the program and if you may qualify. Oregon is a state chosen for the program.
Troy Batson is a licensed broker in the State of Oregon ~ troybatson.com ~ Duke Warner Realty ~ 1033 NW Newport Ave. Bend, OR 97701 ~ (541)382-8262
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