Nevada Hardest Hit Fund

Nevada's Hardest Hit Fund provides various types of assistance to struggling homeowners. It is currently closed to new applicants, but maybe accepting new applications in the future.

The Nevada Hardest Hit Fund helps homeowners with programs that offer principal reduction, second mortgage principal reduction, 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. (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 $50,000) to pay down the principal balance of a mortgage loan. Borrowers who have suffered an eligible financial hardship and who are underwater (owe more than the home is worth) may qualify for assistance.
  • Second Mortgage Reduction. This program provides money (up to $50,000) to reduce or eliminate the principal balance of a second mortgage. Borrowers who have suffered an eligible financial hardship and are underwater may qualify for assistance.
  • Mortgage Assistance. This program provides mortgage reinstatement assistance to borrowers in default who either were unemployed and are now employed (or underemployed) or are underemployed and the underemployment was caused by a substantial reduction of hours or salary reduction. The maximum amount of assistance is $35,000.

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.
  • You occupy the property as your primary residence.
  • You cannot have liquid assets, other than exempt retirement assets, over the amount of assistance that is provided.

To learn the specific eligibility requirements for each program, go to

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.)

To learn the specific exclusions for each program, go to

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

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

To find a HUD-approved housing counselor who can answer your questions about avoiding foreclosure, go to and click on “Resources.”

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