Hardest Hit Alabama Fund

Hardest Hit Alabama (HHA)

Hardest Hit Alabama is one of the numerous federally funded assistance programs designed to help residents of Alabama with various housing needs.

As a result of the economic crisis, Alabama was one of the U.S. States hit hardest by high unemployment and declining home prices.

Hardest Hit Alabama (HHA) is a federally funded program that offers assistance to eligible homeowners who are struggling to make their mortgage payments.

HHA is a part of the Hardest Hit Fund authorized under the Emergency Economic Stabilization Act of 2008.

This is a foreclosure prevention program available in State of Alabama and 17 other eligible States plus the District of Columbia.

In order to provide assistance for financially distressed homeowners, the State of Alabama was allocated $162 million under the Hardest Hit Fund Program.

Hardest Hit Alabama Fund offers Alabama homeowners facing financial hardships the following options:

Mortgage Payment Assistance – available to eligible homeowners who have experienced an involuntary job loss and are receiving unemployment compensation benefits. HHA will provide monthly mortgage payments including principal, interest and escrow expenses. To help delinquent borrowers, HHA will pay the mortgage servicer to bring the mortgage current, not to exceed $12,500. The maximum assistance per household is $25,000.

Loan Modification Assistance – as a one-time distribution of funds to fill a financial gap that limits a homeowner’s eligibility to qualify for a loan modification. Funds may be used to reduce the outstanding principal balance, pay delinquent escrow or past due payments. The loan modification must result in a mortgage payment (including principal, interest, taxes, and insurance) of no more than 31% of the homeowner’s income. The maximum assistance per household is $30,000.

Short Sale Assistance – this is for homeowners who can no longer sustain their monthly mortgage obligation due to a hardship and cover closing costs and any remaining principal amount—up to 10% of the sales price, not to exceed $30,000.

HHA assistance is available statewide to qualified homeowners on a first come, first served basis.

For more information about HHA Program and participating servicers call: (877) 497-8182.

Apply for Hardest Hit Alabama assistance online now.

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