February 10, 2011
2011 Poverty Guidelines Announced
On Jan. 20, DHS announced the 2011 Poverty Guidelines (PDF). These guidelines are used, in part, to determine eligibility for economic hardship deferment. The Economic Hardship Deferment form (HRD) has yet to be revised to reflect the 2011 figures. The current Economic Hardship deferment form (PDF) may still be used, but lenders must use the new poverty guideline figures (below) when determining eligibility.
Borrower's Family Size |
48 Contiguous States and District of Columbia |
Alaska |
Hawaii |
|---|---|---|---|
1 |
$1,361.25 |
$1,700.00 |
$1,567.50 |
2 |
$1.838.75 |
$2,297.50 |
$2,116.25 |
3 |
$2,316.25 |
$2,895.00 |
$2,665.00 |
4 |
$2,793.75 |
$3,492.50 |
$3,213.75 |
|
For each additional person add: |
$477.50 |
$597.50 |
$548.75 |