WASHINGTON- Recently, the Obama Administration announced that it will make available $63.9 million in Hardest Hit Fund support to the Mississippi Home Corporation to bolster and expand the reach of its programs. Mississippi Home Corporation will have flexibility in determining how to target the additional funds they will be
receiving and when assistance will become available to homeowners.
“I am pleased that the Obama Administration recognizes that Mississippi has been hit hard by the housing crisis currently affecting our country,” said Congressman Thompson. “These funds are designed to provide targeted assistance to Mississippi homeowners currently struggling to stay in their homes. The Hardest Hit Fund provides additional resources to help families prevent foreclosure.”
The Administration has allocated over $101.9 million to Mississippi since President Obama first announced the Hardest Hit Fund in February 2010. Under the Hardest Hit Fund, states are already working to implement a variety of targeted programs to help struggling homeowners, including assistance to help unemployed homeowners pay their monthly mortgage, reinstatement assistance to bring delinquent homeowners current on their mortgage, principal reduction for homeowners who are underwater, assistance
with second liens and facilitation of short sales.
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