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 Hardest Hit Fund

Program Purpose and Overview​

The housing crisis that began in 2007 led to unprecedented home price declines and sustained and higher unemployment in certain parts of the country. Families in these areas have been particularly hard hit by this crisis as they have struggled to make their monthly mortgage payments and grappled with deeply underwater mortgages. While the housing market has strengthened in recent years, there is still an ongoing need to continue to assist homeowners and neighborhoods that continue to experience the negative effects of the financial crisis. As a result in 2016, an additional $2 billion was allocated to participating HHF states to continue foreclosure prevention and neighborhood stabilization efforts. Read more


Key Facts

  • First announced in February 2010, the Hardest Hit Fund provides $7.6 billion to the 18 hardest hit states, plus the District of Columbia, to develop locally-tailored programs to assist struggling homeowners in their communities. On February 19, 2016, an additional $2 billion was allocated to HHF as a part of the Consolidated Appropriations Act, 2016. The total HHF allocation is now $9.6 billion.
  • HHF programs are designed and administered by each state’s Housing Finance Agency (HFA). Most of these programs are aimed at helping unemployed homeowners remain in their homes while they search for new employment and those who owe more on their mortgage than their home is worth.
  • State HFAs have until the end of 2020 to utilize funds allocated under HHF.
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Last Updated: 2/25/2016 3:57 PM