Friday, January 27, 2017
Earlier this week, Rhode Island Housing sent out a mailing to homeowners who are receiving assistance from the Hardest Hit Fund Rhode Island (HHFRI). The mailing includes tax information and an important form called a substitute IRS form 1098-MA-Mortgage Assistance Payments. Homeowners who receive assistance through HHFRI may or may not be Rhode Island Housing mortgage holders and will need this information to give to their tax preparer to complete their 2016 tax returns. Below are links to information relating to this mailing:
Frequently Asked Questions on Tax Information for HHFRI Assistance click here
Tax Information for HHFRI Assistance click here
IRS Resources click here
Monday, July 25, 2016
Governor Gina Raimondo, Rhode Island’s Congressional Delegation, Attorney General Peter Kilmartin and mayors from Rhode Island cities and towns affected by the housing and foreclosure crisis joined Rhode Island Housing to announce the grand opening of Rhode Island Housing’s HelpCenter and Hardest Hit Fund office in Warwick and to discuss the deployment of more than $36 million in additional funding for the Hardest Hit Fund Rhode Island (HHFRI) program.
The additional funding enables Rhode Island Housing to build upon its great success in administering HHFRI funds: Rhode Island was recognized as one of the first hardest hit states to fully distribute its funds in previous rounds. The announcement also marks the grand opening of Rhode Island Housing’s HelpCenter office in Warwick. The new location, conveniently located just off Route 95 and with plenty of parking, will give greater accessibility for homeowners to the HelpCenter and the free, HUD-certified counseling services it provides for Rhode Islanders in danger of foreclosure.
(Click here to read the full release)
Friday, March 28, 2016
At a board meeting on Thursday, Rhode Island Housing’s Executive Director Barbara Fields announced the agency will be receiving approximately $36 million from the U.S. Department of Treasury’s Hardest Hit Fund, aimed at helping homeowners with ‘underwater’ mortgages avoid foreclosure.
While Rhode Island ranks 5th in the U.S. in “negative equity,” there have been noticeable improvements in the statewide housing crisis. In 2015, foreclosures in Rhode Island fell to a total of 1,182, which is a 28% drop. Even more encouraging is the overall percent of underwater mortgages decreasing from 15.8% in 2014 to 13.5% in the same period of 2015.
The additional funding from the Hardest Hit Fund is expected to produce even more positive results for those struggling to maintain home ownership.
Friday, February 24, 2016
United States Senator Jack Reed announced that $9.68 million in Hardest Hit Fund monies will be allocated to Rhode Island from the U.S. Treasury Department. In January, Senator Reed wrote to U.S. Treasury Secretary Jacob Lew to make the case for Rhode Island receiving additional funds, which provide foreclosure prevention assistance to those still seeking employment.
Friday, February 19, 2016
This week, the U.S. Department of Treasury announced it would release additional Hardest Hit funds to states severely impacted by the housing crisis. With Rhode Island among the states eligible to receive these funds, Rhode Island Housing now has additional resources to help prevent foreclosures and help stabilize the Rhode Island Housing market.
The previous $79 million in Hardest Hit funding was put to use with great success for Rhode Island families, and we look forward to deploying these additional funds to continue helping residents stay in their homes. Together with its partners, Rhode Island Housing will analyze the current needs of homeowners so that this new allocation of Hardest Hit funding will achieve maximum benefit for those in need. These new programs are expected to be implemented in late spring/early summer.
Rhode Island Housing is grateful for Senator Jack Reed’s leadership and the support of Rhode Island’s entire Congressional delegation in securing this important funding for homeowners in need.
To learn more about the U.S. Department of Treasury’s announcement regarding the additional allocation of Hardest Hit funds to Rhode Island, please click here.