Hi Florida Homeowners. Are you struggling to make your mortgage payments due to unemployment? If so there may be help available through the new Florida Hardest Hit Program. This program went into affect Monday 18 April and is offering help for Homeowners. There are 1 Billion dollars available and it is being dished out on a first come first serve basis.
The following information is from the website: http://flhardesthithelp.org
An eligible homeowner:
- Must be a Florida resident;
- Must occupy property as primary residence (the property cannot be vacant, abandoned or rented);
- Borrower/co-borrower must be unemployed or underemployed through no fault of his/her own, which makes the first mortgage unaffordable;
- Must have documented total household income at or below 140% of the area median income (AMI), adjusted for household size;
- Must have an active checking/savings account that can be debited by the ACH method of funds transfer;
- May not have unencumbered assets of $5,000 or more, or three times the current monthly mortgage payment (whichever is greater);
- Cannot have a bankruptcy that has not been discharged or dismissed; and
- Cannot have been convicted of a mortgage-related felony in the last 10 years.
The current mortgage:
- Must be serviced by a participating lender, who agrees to accept payments on behalf of the homeowner;
- Must not be more than 180 days past due at the time of application;
- Must have been originated on or before January 1, 2009; and
- Must have an existing principal balance of less than $400,000.
Not sure if this is a fix or a band-aid but it is certainly worth checking in to. I'm all for keeping folks in their homes if possible. Go check it out.
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