STATEHOUSE – Lt. Gov. Sue Ellspermann held a press conference yesterday regarding the expansion of Indiana’s Hardest Hit Fund. The U.S. Department of the Treasury identified Indiana as one of 18 states plus the District of Columbia, that had been most affected by the downturn of the economy. State Representative David Ober (R-Albion) is pleased that Indiana was awarded more than $221 million to help struggling Hoosier families pay their mortgages through the Indiana Housing and Community Development Authority (IHCDA).
“Homes provide a sense of security for us, serving as a place to grow a family and share memories, and due to the effects of economic downturn, financial strain can affect a homeowner’s mortgage payment,” said Rep. Ober. “The Hardest Hit Fund, which aims to provide mortgage relief for those facing foreclosure, has already benefited 119 families in Allen County alone, and this expansion will provide additional relief for more Hoosier homeowners that need a little help to save their home.”
The U.S. Department of the Treasury recently approved Indiana’s Hardest Hit Fund changes, which has broadened borrower eligibility to include:
With these program updates, the IHCDA estimates that approximately 10,000 Indiana households will receive assistance over the life of Indiana’s Hardest Hit program.
“We understand that circumstances beyond our control, like the loss of a job due to the recession, can directly affect a homeowner’s ability to pay their mortgage,” said Rep. Ober. “I am pleased that Indiana is taking additional measures to prevent Hoosiers from foreclosing and providing assistance for them until they can re-establish themselves financially.”
The IHCDA worked with the Lieutenant Governor, the Indiana Department of Workforce Development and the Indiana Foreclosure Prevention Network partners to develop a comprehensive strategy to provide Hardest Hit Fund assistance to low-to-moderate-income homeowners whose primary residence is located within any of the 92 counties in Indiana.
If you or someone you know is struggling with mortgage payments and are at-risk of foreclosure, please visit www.877GetHope.org or call 1-877-GET-HOPE – that’s 1-877-438-4673.