Hardest Hit Fund (HHF) Assistance Program

This is a new program which addresses families who are struggling to keep their mortgage current and are also receiving unemployment benefits. The unemployment bridge will offer homeowners with the greatest need for assistance to prevent foreclosure and position the family for long-term sustainability.

The HHF program will provide partial mortgage payment assistance to eligible unemployed homeowners who have suffered job loss through no fault or neglect of their own. The homeowner will be required to contribute fifteen percent (15%) of their current income towards their mortgage payment, with the HHF assistance covering the balance (not to exceed $1,000 per month after 15% contribution).

Once a borrower becomes re-employed the assistance will be available for up to 3 months after the borrower secures a new position (subject to these maximum term limitations). The length of assistance will also vary due to the number of payments past due (which would need to be paid up to date) and date of re-employment.

In order to ensure that the assistance translates into long-term positive change for the homeowner, the borrowers will be required to engage in some form of job training, education or structured volunteer work during the period that they are receiving assistance.

The HHF program is available in all counties in Indiana, however, some counties have been designated as harder hit than others due to the economy. In our service area Fountain, Vermillion and Warren fall into this category. What this means for the homeowner who is approved to participate in the program is they would be able to receive up to $18,000 in assistance.

In our other service areas, Benton, Montgomery and Parke the assistance would be up to $12,000.

For more information, call Alice Young at (765) 793-4881, Ext. 1209 or via email at ayoung@capwi.org