Hardest Hit Fund Helps Nashville Real Estate & Homeowners

The Tennessee Housing Development Agency (THDA) is administering a Federal Fund for unemployed or substantially underemployed homeowners who are in danger of losing their home to foreclosure.  Tennessee is one of eighteen states who have received funding because the average unemployment rate is higher than the national average.  Homeowners who qualify for the program may receive up to eighteen months of mortgage payments to pay any past due amounts and to bring the mortgage current. These funds are paid directly to the lender or loan servicer.

To qualify for the Keep My Tennessee Home program, a homeowner must meet the following eligibility requirements:

  • Be unemployed or underemployed (a 50% reduction of income) through no fault of their own (not terminated for cause). The event or incident which results in unemployment or substantial underemployment must have occurred after Jan. 1, 2008.
  • Have a mortgage for a single-family home or condominium (attached or detached) in Tennessee that they occupy as their primary residence. This includes manufactured homes on foundations permanently affixed to real estate that they own.
  • Have a history of timely mortgage payments prior to the job loss/reduction of income, or no more than two 30- day late payments in the 12 months prior to the job loss/reduction of income. The combined amount of your mortgage principal, interest, taxes and insurance must be greater than 31% of your household income after the job loss/reduction of income.
  • Not have more than six months' reserves of liquid assets, that is, liquid assets equal to six months of their mortgage principal, interest, taxes and insurance.
  • Have a household income less than $74,980.
  • Have a total unpaid principal balance not exceeding $226,100.
    Meeting the basic requirements does not guarantee eligibility for the Keep My Tennessee Home program. For more information contact the THDA or go to KeepMyTNHome.gov.


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