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.
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 has several programs to help homeowners avoid foreclosure. The programs are:
To be eligible for the Nevada Hardest Hit Fund program, you must meet the list of general eligibility criteria below, among other eligibilty requirements.
To learn the specific eligibility requirements for each program, go to www.nevadahardesthitfund.nv.gov.
Among other exclusions, you are not eligible for the program in the following situations.
To learn the specific exclusions for each program, go to www.nevadahardesthitfund.nv.gov.
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.)
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.