The federal government is giving Indiana hundreds of millions of dollars as part of the Hardest Hit Fund. The mortgage assistance/foreclosure prevention program is designed to help low- to moderate-income homeowners who are struggling with employment or have had a reduction in hours.
The main purpose of the program is to assist people who have had a decrease in income to pay their mortgage, and prevent a foreclosure. If you are in the process of foreclosure, money can help you. The IHCDA is responsible for running the program and making sure it is carried out effectively on a statewide level. The government can give people money to help them pay their mortgage while they are looking for a new job. Counselors will also help applicants access job and career training that is being offered by the Indiana Department of Workforce Development. My key long term goal is to help people find employment in a new occupation.
Some key conditions of the Indiana Hardest Hit Fund (HHF) program are that it will provide partial mortgage payment assistance to unemployed homeowners who are found to be qualified for aid. The loans are for people who have lost their job through no fault or neglect of their own. This program is not a charity service, and the homeowner will be required to contribute at most 30% of their total household income towards making their mortgage payment. The loan from the Indiana hardest hit fund may include paying the balance of the applicants mortgage, however the amount paid by the loan cannot exceed $1,000 per month after the 30% contribution from the homeowners.