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The Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA) acting through the Michigan State Housing Development Authority (MSHDA) received $498.6 million in federal funds from the U.S. Department of Treasury. The funds are being used to help Michigan take a step forward through a comprehensive, statewide strategy that is aimed to help homeowners who are at high risk of default or foreclosure.
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Through A Step Forward, MHA designed forgivable loan programs to help homeowners who have had a financial hardship that include:
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- Mortgage payment assistance for homeowners currently receiving unemployment compensation
- Rescue funds for homeowners who have fallen behind in their mortgage payments due to no fault of their own and who have overcome this obstacle
- Federal matching funds for principal reductions for homeowners who can no longer afford their mortgage payments as a result of reduced income
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Homeowners can apply directly for loan assistance at stepforwardmichigan.org. This web site is the fastest way for homeowners to submit an application.
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Additional foreclosure prevention help may also be available to homeowners. Please contact a Homeownership Counselor in your area or call 866.946.7432 to be directed to a counselor. |
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| Fannie Mae and Freddie Mac borrowers can visit Who to Contact For Help and Know Your Options for more options and information. |
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