Everybody knows at least one person who may be upside down in their property; struggling; and/or maybe has had to take a cut in pay. I wanted to share some information about Nevada Hardest Hit Fund® - HHF.  NHHF operates from a Federal grant, and they have about $170,000,000 left to allocate to qualified Nevada homeowners.  There is money out there to help!  They anticipate these funds drying up in about 18 months.  Their goal is to prevent avoidable foreclosures and keep limited-income Nevada homeowners in their home.  They have 5 different programs available:

• Mortgage Assistance Program (MAP):  This is a temporary financial assistance for homeowners who have experienced involuntary job loss and/or severe reduction in income (a drop of income 10% or greater in the last 5 years.)  This program will help a homeowner make their mortgage payment up to $1000 for 9-12 months. 
• Principal Reduction Program:  Qualified Homeowners can receive a principal reduction of up to $100,000.  The homeowner’s servicer must agree to participate and match dollar for dollar.
• Short-sale Program:  Help homeowners transition from an unsustainable home to being a renter.
• Second Lien Relief Program:  Second mortgages can be challenging in getting a short-sale, refinance, or loan modification processed.  This program will extinguish the second lien and requires second lien participation, up to $16,500 per dwelling.
• MAPA:  Rolling out later this month. 

Here are the general eligibility requirements:  Owner occupied, legal US resident, maximum mortgage limits are $729,750, documented financial hardship, facing imminent default or in default, currently own only 1 property, required 3 year occupancy after assistance, servicer participation.

This is an incredible program and another great option for homeowners in Nevada.  Please call me, 775.813.2387, if you would like further information, and feel free to pass my card to friends and family who can benefit from this program and other programs (HAFA, HAMP, FGC, HAM, HARP, 2MP, FHA-HAMP, HAUP.)