With one of the highest foreclosure rates in the nation, Nevada was selected to be one of the first five states' Housing Finance Agencies to receive funds from the U.S. Treasury’s “Hardest Hit Fund®”. The State of Nevada was awarded over $150 million in funds available to qualified recipients.
The U.S.
Treasury approved the
nonprofit Nevada Affordable
Housing Assistance
Corporation (NAHAC) to
oversee the 'Fund' serving
as a support arm for the
Nevada Housing Division,
Nevada’s Housing Finance
Agency. Nevada Hardest
Hit Fund® provides four
programs to assist
Nevada
homeowners who are at high
risk of default or
foreclosure.
Programs offered through
Nevada Hardest Hit Fund®:
NOTE: These programs are only available to homeowners whose mortgage servicing company agrees to the terms and conditions governing the use of these funds.
IMPORTANT!!!
FOR BORROWERS
A borrower
cannot apply
for assistance while in active bankruptcy.
The Nevada Hardest Hit Fund® has partnered with a number of Servicers. In order to participate in the Mortgage Assistance Program and the Principal Reduction Program, your Servicer must be participating. See a list of participating Servicers and which programs they are currently offering.
While Servicer cooperation is a requirement, your Servicer does not need to be listed as a participating Servicer in order to receive assistance through the Short Sale Acceleration Program and the Second Mortgage Reduction Program.