Indiana Mortgage Assistance Program Stops Taking New Applications

Indiana Mortgage Assistance Program Stops Taking New Applications

A federally funded program that helps Indiana homeowners avoid foreclosures stopped taking applications at the end of June.

the Indiana’s Hardest Hit Fund offers mortgage assistance to people in danger of losing their homes.

It stopped taking new applications as of the close of business on Friday, after learning in the spring that it would need the remaining funds for current entrants.

Indiana Housing and Community Development Authority spokesman Brad Meadows said applications for the program must go through local housing counselors, and those counselors were notified in advance of the new deadline. There does not appear to have been any further public notice of the change.

Meadows says current funding recipients are unaffected by the shutdown and applications submitted before last Friday will be processed as normal. He also says the fund could start accepting applications again if additional funds are available.

Meadows says the nearly seven-year-old fund sent $140 million in mortgage assistance to more than 9,300 Hoosiers through the end of May. The program received a total of $283 million in five funding rounds between 2010 and 2016. The last round was to be spent by 2020.

There are 19 hardest hit funds at national scale, including that of Indiana. At least two others appear to have posted notices like Indiana’s in recent weeks. Mississippi stopped taking applications at the end of May, and Georgia Did the same last Friday.