INDIANAPOLIS — The additional investment in Hardest Hit Funds will enable participating state Housing Finance Agencies to continue assisting struggling homeowners and stabilizing neighborhoods in many of the nation’s hardest hit communities.

“I am pleased that Indiana is one of 18 states that will receive additional Hardest Hit Funds from the U.S. Department of the Treasury,” said Lt. Gov. Sue Ellspermann. “With the HHF program, the Indiana Housing and Community Development Authority through the Indiana Foreclosure Prevention Network has provided more than $94 million in assistance to nearly 7,000 Hoosier homeowners. We have also seen a steady decline in the foreclosure rate in Indiana since the program began in 2010. According to the Mortgage Bankers Association, Indiana has its lowest foreclosure rate since the first quarter of 2007. With the additional HHF funding we will be able to help more Hoosier families remain in their homes and continue reducing the foreclosure rate.”

The release on Friday Feb. 19, highlighted this phase will allow Treasury to focus additional resources on HFAs that have significant ongoing foreclosure prevention and neighborhood stabilization needs, a proven track record in utilizing funds, and successful program models to address those needs.

Indiana has been allocated $28.5 million in additional Hardest Hit Funding. The program is administered for the state by the Indiana Housing and Community Development Authority, an agency under the leadership of the Office of the Lt Governor.