South Carolina's Hardest Hit Fund Programs Closed

South Carolina has stopped accepting applications for its Hardest Hit Fund programs.

South Carolina’s Hardest Hit Fund program, called “SC Help,” which previously offered up to $36,000 to eligible homeowners to help make their monthly mortgage payments, reinstate a defaulted loan, modify a mortgage, or move to a new home after a short sale or deed in lieu of foreclosure, has closed.

What’s the Hardest Hit Fund? As part of the Hardest Hit Fund, the federal government gave billions in aid money to individual states, including South Carolina, that experienced extreme home price declines, high numbers of foreclosures, and excessive unemployment rates during the Great Recession. The states then set up foreclosure avoidance programs to help homeowners who were struggling to make their mortgage payments.

Hardest Hit Fund states. States that received Hardest Hit Fund money, in addition to South Carolina, are: Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, and Tennessee, as well as the District of Columbia.

Programs were supposed to last until 2020, but some are ending early. While all Hardest Hit Fund state programs were initially scheduled to continue through 2020, some states, including South Carolina, have stopped taking applications because their allocated funds ran out.

Keep in mind that some state programs have closed and then reopened when more funding became available. For that reason, if you’re a homeowner facing a foreclosure in South Carolina, it’s worth keeping an eye on the SC Help website, just in case the program starts taking applications again.

Effective date: May 9, 2018