TITUS ANNOUNCES $8.8 MILLION INCREASE IN ASSISTANCE TO HOMEOWNERS

Washington D.C. Washington, D.C. – (RealEstateRama) — Rep. Dina Titus of Nevada’s First Congressional District announced that the U.S. Treasury Department will provide Nevada an additional $8,885,641 to aid residents hit hardest by the economic and housing market downturn.

The money comes from the Treasury’s Hardest Hit Fund, which has secured more than $190 million in aid for qualified Nevada homeowners facing default or foreclosure since 2010.

The Nevada Affordable Housing Assistance Corporation administers the state’s money from the Hardest Hit Fund. Nevada is one of 18 states that benefits from the Hardest Hit Fund. Participants receiving additional funds will have until December 31, 2020, to access and utilize the funds.

“Nowhere was the impact of the housing crisis greater than in Southern Nevada; and while we’ve made progress in the last six years, we still have a long way to go until we fully recover. I applaud the Treasury for helping to keep Nevadans in their homes, neighborhoods and communities.”

Background from Treasury Department:

The Hardest Hit Fund was created in 2010 to provide $7.6 billion in targeted aid to 18 states and the District of Columbia deemed hardest hit by the economic and housing market downturn. The program was designed to leverage the expertise of state and local partners by funding locally-tailored foreclosure prevention and neighborhood stabilization solutions.  As of the end of the third quarter of 2015, HHF has disbursed approximately $4.5 billion of the $7.6 billion obligated to the program, on behalf of homeowners and stabilization efforts, and assisted nearly a quarter of a million homeowners.

For more information on the latest round of HHF funding, please see the FAQsand for further state-by-state information please refer to the Treasury HHF page.

Contact: Kyle Roerink

Phone: (202) 657-3219