In an effort to provide financial assistance to families in the states most impacted by the downturn of the housing market, the U.S. Department of the Treasury established the Housing Finance Agency Innovation Fund for the hardest-hit markets (Hardest Hit Fund).
Indiana received a total of $222 million to help unemployed homeowners. The Indiana Housing and Community Development Authority (IHCDA), who oversees the Indiana Foreclosure Prevention Network (IFPN), will administer this program as an additional tool offered to troubled borrowers who are currently unemployed through no fault or neglect of their own. These funds will help cover a portion of their first mortgage and related expenses while the qualified individuals seek new employment and follow the requirements of the program.
Housing Opportunities is excited to help Build the Bridge to Recovery alongside IHCDA, as an approved non-profit organization that would provide housing counseling for qualified borrowers in Lake, Porter, LaPorte, Starke, Pulaski, Fulton, Jasper, and Newton counties.
To review eligibility and program requirements, to apply for this program, or to get more information please visit www.877GetHope.org.