Wednesday, February 23, 2011 | 12:00 AM
Governor Robert Bentley recently announced the creation of Hardest Hit Alabama, a program to provide $162 million for the prevention of foreclosures in Alabama.
Mayor Ken Sunseri said, “We want the public to be aware of what the state is offering.”
The money was awarded to the Alabama Housing Finance Authority to provide assistance targeted at Alabama's unemployed homeowners.
Eligible homeowners will receive assistance to pay current mortgage payments and all other mortgage-related expenses, including payments on any subordinate liens, while unemployed. HHA will provide up to 12 monthly mortgage payments, or $15,000, per household.
Alabama homeowners who have been declared eligible to receive unemployment compensation benefits may apply. To qualify, applicants must have a total annual household income of less than $75,740, and the unpaid principal balance on their home's mortgages must be less than $258,690.
The homeowner must currently occupy the property as their primary residence, and the home must be located in Alabama. Assistance will be available for single-family homes, attached or detached, and manufactured housing attached to real property.
HHA will be available statewide to qualified homeowners on a first-come, first-served basis. For more information visit the [Hardest Hit Alabama website].