A ""nonprofit"":http://www.helpsharetheword.org/ was recently established with the purpose of making homeowners aware of the $7.6 billion available through the ""Hardest Hit Fund"":http://www.treasury.gov/initiatives/financial-stability/programs/housing-programs/hhf/Pages/default.aspx(HHF).[IMAGE] [COLUMN_BREAK]
""Help Share the Word was created for the sole purpose of informing homeowners who are unaware that there are programs available to offer this type of assistance,"" said Sergio Munoz, SVP for Help Share the Word. ""The greatest obstacle to the success of this program is the fact that many of those people who would benefit most from the Hardest Hit Fund are unaware of its existence.""
The states where homeowners are eligible for assistance through the HHF are Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee and the District of Columbia.
Select states were chosen due to their unemployment rate or declining home values following the housing crises.
The program offers relief for homeowners facing foreclosure such as mortgage payment assistance for the unemployed, principal reduction, and transitional assistance.
In April, a SIGTARP report revealed that the program had ""only spent 3 percent"":http://www.dsnews.com/articles/agency-reveals-hardest-hits-inefficiences-and-culprits-2012-04-12 of its budget since its February 2010 inception.