Alabama Governor Robert Bentley announced on 2/9/2011 that The Alabama Housing Finance Authority has been given $162 million in federal funds to help unemployed or underemployed homeowners avoid foreclosure. This is part of a new program called Hardest Hit Alabama (HHA).
“Record foreclosures and continued high unemployment are causes for concern for our state,” said Governor Bentley. “Homeowners who have experienced a temporary loss of income can benefit from short-term assistance to help bridge the gap until they have restored their income. This assistance is designed to help families stay in their homes until they can they find employment.”
As a part of HHA, eligible homeowners could receive up to 12 monthly mortgage payments, or $15,000 per household. All Alabama homeowners who are eligible to receive state unemployment compensation may apply.
In order to qualify:
• Annual household income of less than $75,740
• Unpaid principal balance on mortgage must be less than $258,690
• Applicant must occupy the home as their primary residence
• The home must be located in Alabama
HHA is now accepting applications; anyone interested in applying must submit an application to Hardest Hit assistance through a secure website (www.HardestHitAlabama.com). HHA is available statewide to qualified homeowners on a first-come, first-served basis.
If you have questions about eligibility visit www.HardestHitAlabama.com or call 1.877.497.8182.