As a REALTOR, I speak with many families in hardship and facing foreclosure. This is a heartbreaking situation often due to circumstances beyond your control. These circumstances can seem traumatic and have a lasting impact, taking years to recover. As a homeowner in trouble, you cannot ignore the letters and the calls. You must be proactive and seek out your options. You are not alone and many people are wearing the same shoes.
On February 2, 2011 Gov. Bentley announced the Hardest Hit Alabama fund (HHA), which will provide up to $162 million toward foreclosure prevention for Alabama homeowners who are eligible for unemployment compensation.
This grant was awarded to the Alabama Housing Finance Authority and authorized through the Emergency Economic Stabilization Act of 2008 which is available in 18 states and District of Columbia.
HHA will provide up to 12 monthly payments to eligible households, not to exceed $15,000. Funds are available on a first-come-first-serve basis until depleted.
The requirements for eligibility are:
- You must be eligible for unemployment compensation benefits
- Your total annual household income is less than $75,740 at time of application
- The amount you owe on your home mortgage is no more than $258,690
- Must occupy the home as a primary residence in the state of Alabama
What you will need to have:
- Mortgage Loan Information
- Unemployment Compensation Information
- Financial Information
If you or someone you know may qualify, go to THE HARDEST HIT ALABAMA site to apply or call Hardest Hit Alabama hotline at 877.497.8182 for free assistance.
Note: There are NO FEES to apply for this assistance. If you are contacted by someone offering to assist you for a fee, do not speak with them. Instead contact HHA at the above number.
Don’t lose your home without exhausting all of your options. If you do not qualify, but want to talk about a possible short sale (pre-foreclosure) of your home, please contact us through the RE/MAX website TiaStanleyTeam
Information obtained from The Hardest Hit Alabama website.