Las Vegas/Reno, NV (PRWEB) September 18, 2013
With one of the highest foreclosure rates in the nation, Nevada was selected to be a beneficiary of the U.S. Treasury’s “Hardest Hit Fund®” program, which provides assistance that will help prevent avoidable foreclosures and keep Nevada homeowners in their homes.
The following programs are available immediately to qualified applicants:
MORTGAGE ASSISTANCE PROGRAM (MAP)
Nevada Hardest Hit Fund® will assist eligible applicants by paying up to a maximum of $1,000 monthly toward their impounded first mortgage payment, including principal, interest, property tax and insurance for up to nine (9) months. The applicant’s contribution will be a minimum of $75 or any amount that exceeds the $1,000 maximum assistance per month.
General Eligibility Requirements:
- Applicant(s) must be unemployed and actively looking for work, or be able to validate at least a 35% reduction in income/wages since 2008
- Applicant(s) must be facing imminent default
This program assists eligible applicants who have successfully completed the Mortgage Assistance Program by paying up to a maximum of $12,500 toward arrearages and/or accrued penalties and late fees. Applicants must provide evidence that they have overcome their previous financial hardship and that the mortgage payments are now sustainable (43% or less of total household income).
HOW TO APPLY
To apply, homeowners can call the Nevada Hardest Hit Fund hotline directly at (855) 428- HELP (4357) or visit the website for more information: http://www.NevadaHardestHitFund.NV.gov.