There are four key programs under HHFRI, each with their own eligibility requirements and program offerings:
- Temporary & Immediate Housing Assistance
- - Financial assistance to help avoid foreclosure
- - Funding can be used to pay delinquent mortgage payments, property taxes, homeowners insurance, association dues or other property-related expenses
- Loan Modification Assistance
- - Financial assistance to help the homeowner achieve a permanent loan modification
- - Funding can be used in a variety of industry accepted methods to permanently modify the first mortgage in an effort to achieve an affordable monthly payment
- Mortgage Payment Assistance
- - Financial assistance via a monthly mortgage payment supplement
- - Homeowner must contribute a percentage of household income toward the mortgage payment
- Moving Forward Assistance
- - Financial assistance to homeowners who have suffered a severe financial crisis and can no longer stay in their home
- - Assistance to facilitate a short-sale or deed-in-lieu
- - Relocation assistance
If you feel you may be eligible for assistance you may begin the application process at any time.
HHFRI will only be available to homeowners who have a documented qualifying financial hardship and have exhausted all options to maintain mortgage payments and avoid foreclosure.
You may qualify if:
Note: Prior HHF recipients are eligible, subject to maximum program assistance limits.
- You own a 1-to-4 family home or condominium and occupy it as your primary residence.
- Your gross annual income is less than $89,280 if there are 1 or 2 people in your home; or less than $104,160 for a household of 3 or more.
- Your monthly mortgage payments, including taxes and insurance are greater than 31% of your gross monthly income.
- You have no financial resources of your own (except for $15,000 or less in savings). You can have any amount in a retirement account such as a 401(k) or IRA savings plan.
- You have a documented financial hardship that has affected your ability to make your mortgage payments, such as:
- - unemployment or underemployment;
- - death or disability of a key wage-earner;
- - unforeseen medical expenses.
- Deployed members of the U.S. Armed Forces or those discharged within the last 12 months who have experienced a drop in income. (This applies to all personnel in regular and reserve components of the Army, Navy, Air Force, Marines and Coast Guard).