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Frequently Asked Questions

What is the program?

The IFPN was developed by a coalition of community organizations, housing-related agencies, government agencies, lenders and banks, to assist Indiana homeowners who are struggling with—or who are at risk of—mortgage delinquency and foreclosure.

We provide free and confidential mortgage payment assistance of up to $30,000 to qualifying applicants and foreclosure prevention counseling to any Indiana homeowner who needs it. By clicking on the “Apply Now” button above or calling 1-877-GET-HOPE, you will connect with a counselor who can help you with your mortgage lender.

There are three programs within Indiana’s Hardest Hit Fund: the Unemployment Bridge Program; the Recast/Modification Program; and the Transition Assistance Program. The types and amounts of assistance available to homeowners through these programs vary. Each program is described in detail below, including the criteria that applicants must meet to be eligible for assistance.

Our services:

Mortgage payment assistance

The IFPN can assist approved homeowners who are unable to make their payments or cannot get caught up on their payments due to a current or previous period of unemployment. This help for qualified homeowners is made possible through the Hardest Hit Fund. Indiana’s Hardest Hit Fund offers forgivable zero-interest loans of up to $30,000 to pay your mortgage while you search for new employment. The loan may also be used to bring your mortgage payments current. Apply now

For more information:

Legal services

Along with counseling, the IFPN also provides access to legal services for some qualified homeowners, as well as assistance if you are already in foreclosure. If you have received a notice of foreclosure in the mail or from your lender, call 1-877-GET-HOPE or click “apply now” now.

Foreclosure counseling works. One study has shown that homeowners who work with housing counselors are 60% more likely to save their home than homeowners who go it alone!*

Lender dispute resolution

In Indiana, you have the right to meet face to face with your lender to try to resolve the mortgage dispute before the foreclosure may proceed., but homeowners must request this opportunity with the court. The IFPN can assist homeowners through this process. For more information on settlement conferences, call 1-877-GET-HOPE, or visit the Indiana Supreme Court’s website.

Is this for me?

You may be eligible for Hardest Hit Fund program (HHF) mortgage payment assistance, or other foreclosure prevention assistance outlined below. Call us at 877-GET-HOPE (877-438-4673) to start the application process.

Mortgage payment assistance

HHF helps qualified homeowners who cannot make their payments or fall behind in their mortgage payments due to an involuntary financial hardship.

Hardships that may qualify homeowners for assistance include an involuntary financial hardship including, but not limited to:

  • (a) an involuntary loss of employment or reduction in employment income;
  • (b) a reduction in household income due to death of a household member
  • (c) expenses related to non-cosmetic medical procedures or emergencies
  • (d) military service;
  • (e) or divorce.

This help is made possible through the Hardest Hit Fund. Indiana’s Hardest Hit Fund offers forgivable zero-interest loans of up to $30,000 to pay your mortgage while you re-establish yourself financially. The loan may also be used to bring your mortgage payments current.

Call us at 1-877-GET-HOPE, and a counselor will connect with you shortly. Apply now.

Transition Assistance Program (TAP)

For homeowners who cannot be assisted with mortgage payment assistance, transition assistance may be available. The purpose of this program is to prevent avoidable foreclosure and help stabilize neighborhoods by helping homeowners to achieve an orderly exit from their home.

The following TAP assistance will be available:

  • $2,500 to the homeowner to assist with moving and relocation expenses; and
  • Up to $5,000 to lenders/servicers to extinguish and release subordinate liens as part of a short sale or deed-in-lieu of foreclosure agreement.

Lender dispute resolution

In Indiana, you have the right to meet face-to-face with your lender to try to resolve a mortgage dispute before the foreclosure may proceed, but homeowners must request this opportunity with the court. The IFPN can assist you through this process. For more information on settlement assistance, call 1-877-GET-HOPE (877-438-4673), or visit the Indiana Supreme Court’s website.

Other foreclosure prevention assistance may be available for applicants who do not meet these qualifications. Please complete the application and someone will contact you.

More than 70 percent of those who complete the HHF application process are approved.

The good news:

  • More than 70 percent of those who complete the HHF application process are approved.
  • Those who consulted with a housing counselor and received a loan modification from their lenders reduced their monthly payments on average $176 more than those who did not receive counseling.

All of these services are free of charge.

Participating Lenders

More than 300 lenders participate in Indiana’s Hardest Hit Fund. To see if your mortgage lender is part of our program, view the participating lender/servicer list. Don't see your lender listed? Call us at 1-877-GET-HOPE (1-877-438-4673) to apply for assistance, and contact our servicer liaison BFox3@ihcda.in.gov to request that your lender be added.

View our list of servicers

How much assistance is available to help each homeowner?

Eligible homeowners may receive assistance up to $30,000, for 24 months, or until 3 months after re-employment, whichever comes first.

Will the homeowner have to pay back the assistance they receive from Indiana’s HHF?

All assistance is structured as a forgivable, non-recourse, non-amortizing loan, secured by a junior lien on the property. The loan has a term of 10 years and is forgiven at a rate of 20% per year in years 6 through 10 of the loan term. If the borrower sells the property before the forgiveness period expires, all net sale proceeds up to the full principal balance outstanding will be due and payable to IHCDA.

Term (in years from closing date) Amount Due Back to IHCDA
Years 1 through 5 100%
Year 6 80%
Year 7 60%
Year 8 40%
Year 9 20%
Year 10 0%

The HHF loan is not forgivable by reason of death of the borrower. However, because it is a non-recourse loan, the borrower’s estate has no personal liability for the debt, and IHCDA is limited to collecting from the available proceeds after sale of the property.

What will I need to do and why?

To apply for the Hardest Hit Fund Program (HHF), first create an online profile and one of our counselors will contact you. Don’t worry if you’re already working with a housing counseling agency. Simply select the agency name within the application. Once you’ve completed the online profile, you’ll need to fill out the four-step online application. The more information you share with us, the faster and more accurately we can assist you. 

Online application process:

  1. Step 1: Basic Homeowner information
  2. Step 2: Property and lender information
  3. Step 3: Financial information
  4. Step 4: Hardship letter

The online application process allows us to match you with the proper counseling agency. The counselor will review your information and determine your eligibility for the HHF and/or other programs.

Is the assistance limited to people who are delinquent on their mortgage?

No, Indiana’s HHF is also available to homeowners who are current on their mortgage, but who are experiencing involuntary financial hardship.

Is your servicer/bank participating?

View the participating servicers. If your bank or servicer is not included, please contact our servicer liaison BFox3@ihcda.in.gov.