Nevada Hardest Hit Fund

Nevada's Hardest Hit Fund provides various types of assistance to struggling homeowners.

The Nevada Hardest Hit Fund helps homeowners who have suffered a hardship with programs that offer principal reduction, unemployment mortgage assistance, and mortgage reinstatement assistance. Read on to learn about the different programs available through Nevada’s Hardest Hit Fund and find out if you may be eligible for assistance.

Hardest Hit Fund

In 2010, the U.S. Department of the Treasury created the Hardest Hit Fund to provide targeted aid to homeowners in those states most affected by the housing market crash. Since Nevada had one of the highest foreclosure rates in the county, it was one of the first states to receive funds. (Find out more about the Nevada foreclosure process.) Over $194 million went into the Nevada Hardest Hit Fund. Additional funding was approved in 2016. (To learn more about the Hardest Hit Fund and the various state programs funded by it, visit our Hardest Hit Fund topic page.)

The Nevada Hardest Hit Fund

The Nevada Hardest Hit Fund has several programs to help homeowners avoid foreclosure. The programs are:

  • Principal Reduction. This program provides money (up to $100,000) to pay down the principal balance of a mortgage loan.
  • Unemployment Mortgage Assistance. This program provides temporary financial assistance (up to $54,000, equaling the lesser of $3,000 per month or 100% of the mortgage payment for up to 18 months) to those who have suffered a loss of income due to unemployment or underemployment.
  • Mortgage Reinstatement Assistance. This program provides mortgage reinstatement assistance to borrowers. The maximum amount of assistance is $54,000.

General Eligibility Requirements

To be eligible for the Nevada Hardest Hit Fund program, you must meet the list of general eligibility criteria below, among other eligibilty requirements.

  • You are a legal U.S. resident and full-time resident of Nevada.
  • You have suffered a hardship.
  • You occupy the property as your primary residence.

To learn the specific eligibility requirements for each program, go to www.nevadahardesthitfund.nv.gov.

Program Exclusions

Among other exclusions, you are not eligible for the program in the following situations.

  • You have filed bankruptcy and the bankruptcy is active. If you previously filed bankruptcy and it was dismissed or discharged (and you reaffirmed the current mortgages), then you are eligible to apply.
  • You own more than one home or do not occupy the property.
  • You own a manufactured home and it has NOT been converted to real property. (If the manufactured home has been converted to real property, you are potentially eligible for assistance.)
  • You are over the income limit for your county

To learn the specific exclusions for each program, go to www.nevadahardesthitfund.nv.gov.

Servicer Participation

Servicer participation in the program is voluntary. (A mortgage servicer is the company that collects monthly mortgage payments from borrowers on behalf of the owner of the loan, as well as tracks account balances, manages the escrow account, handles loss mitigation applications, and pursues foreclosure in the case of defaulted loans.)

For More Information

If you have questions or would like more information about the Nevada Hardest Hit Fund, go to www.nevadahardesthitfund.nv.gov/Contact_Us.html.

For information about options to avoid foreclosure, see our Alternatives to Foreclosure area.

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