Tennessee Hardest Hit Fund
The state of Tennessee is using federal government funds to create the Tennessee Hardest Hit Fund. Mortgage assistance will be provided to homeowners who have had a reduction in income or who are struggling with paying their mortgage.
This can include underemployed homeowners who are now struggling with paying unaffordable mortgages as the result of a decrease in income that was outside of their control, such as a job loss, reduction in hours, or medical condition. Aid can also be provided to people who have had an uncontrollable increase in household expense.
In addition, under certain condition, mortgage assistance can be provided to unemployed Tennessee homeowners who, through no fault of their own, are unable to make their mortgage payments for a myriad of issues and who are in danger of losing their homes to a foreclosure filing.
The fund will help homeowners while they look for a new job or some other method to increase their income. For example, financial assistance can be provided to assist homeowners while they complete an education program or job training class that will enhance their job skills and provide them with further career opportunities. In addition, the Tennessee hardest hit fund will assist homeowners who are re-employed but need additional time or some other help to bring their mortgage current.
Mortgage assistance provided by the Tennessee Hardest Hit Fund
The Tennessee Housing Development Agency will be working with local agencies across the state to administer the program.