Do You Need Help With Your Florida Mortgage Payment?

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

Florida ForeclosuresHi 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:

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.

Are you facing foreclosure in Florida?


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Copyright © 2011 | All Rights Reserved


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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas


 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 04/25/2011 01:00 AM
Home Selling
Florida Osceola County Kissimmee Poinciana
foreclosure prevention

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William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Let's give away more tax money, it's free you know!

I'm in favor of consumers taking full advantage of such available programs, but opposed to the program. It's foolish not to use what's offered.


Apr 19, 2011 08:22 AM #1
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Bryant, ANY resource you can point people to for helping them, even just possibly helping them, is good.

Apr 19, 2011 09:16 AM #2
Mitch Gover - Orlando, FL

Cannot have more than $5,000 in unencumbered assets.  Wow.  Truly for the hardest hit.  Thanks for posting.

Apr 19, 2011 11:06 AM #3
Linda K. Mayer
License # 01767321 - La Verne, CA

I want free tax money....

Apr 19, 2011 01:36 PM #4
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Bryant - In a way this helps you as well.  The fewer foreclosures, the better your market will be.  Good idea!

Apr 19, 2011 02:25 PM #5
June Tassillo
Owner/Broker RE/MAX Elite Realty - Franklin, NC
Let me help you with the next phase of your life!

BB ~ At first I thought you were posting a joke.  I bet it would be very hard to meet all those requirements.  I still have first time Home Owners who have yet to see their tax money.  I guess that was another Band-Aid with promises to make the market better. 

Apr 19, 2011 02:35 PM #6
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

The criteria appears to be reasonable also.  I can and will pass this along to a few who are in need Right Now.  Thanks BB!

Apr 19, 2011 02:51 PM #7
Julie Martin
Port City Realty - Mobile, AL
Realtor, Broker - Gulf Coast Real Estate

Great information to pass along. I too have a problem with it however. I have an adult single parent daughter who works 40 hours a week, is in grad school online in the evenings and really struggling to stay in her home. She doesn't qualify for anything! Makes to much money any help and not enough to pay her bills.

Apr 19, 2011 03:10 PM #8
Tni LeBlanc, Realtor®, J.D.
Mint Properties, Lic. #01871795 - Santa Maria, CA
Tenacious Tni (805) 878-9879

Hey I like the band aid photo.  We have a similar program in California for distressed borrowers and I think it is just that -- a band aid.  It doesn't take a genius to figure out what it will really take to keep people in their homes -- but it hasn't happened.  I hope this program helps some people that truly need it.

Apr 19, 2011 06:31 PM #9
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This is good information to pass along.  Let's hope it helps some folks.

Apr 20, 2011 12:49 AM #10
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