Hardest Hit Fund
Good morning everyone,
I found an article on April 14th, in the Oakland press that will provide $155 Million in funds for the unemployed in the state of Michigan to help homeowners with their mortgage payment or principle reduction. These funds are going to be available in late June or July for the state of Michigan! Please click onto the links below to learn more about the programs.
The Michigan plan would offer assistance to homeowners receiving unemployment benefits. Those who qualify would get up to half of their monthly mortgage payment paid by this program up to $750 per month for up to a year. The plan also would help homeowners who have fallen behind on payments because of a temporary layoff or medical condition. Homeowners could get up to $5,000 in assistance under this portion of the program.
A third piece of the program could provide up to $10,000 from the state-plus a match from the lender- to reduce the amount of principle owed on a home! That feature is designed for a homeowner who have jobs but have lost income. Even if your spouse is working you could qualify for the third piece.
To get the ball rolling, you can call for the Lighthouse Community Counseling agency at 248-920-6200 ext 2426 for Oakland County residence and ask for a foreclosure prevention person to see if your lending is participating in this program. If you don’t live in Oakland County, please look for a foreclosure prevention person for the county that you live in.
HFA Hardest Hit Fund – MSHDA Proposal Being Submitted
http://www.michigan .gov/mshda/ 0,1607,7- 141–235359- -,00.html
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