Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid

Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid

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Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid. In July, Florida quietly launched a program that pays up to $15,000 in down payment and closing costs for first-time home buyers in just five counties – Hillsborough, Orange, Duval, Volusia and Brevard.

Because its original allotment was so large, Florida could receive the full $250 million, bringing its grand total of Hardest Hit funds over the years to $1.33 billion.

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Hardest Hit Fund programs vary state to state, but may include the following: Mortgage payment assistance for unemployed or underemployed homeowners; Principal reduction to help homeowners get into more affordable mortgages ; Help for homeowners who are transitioning out of their homes and into more affordable places of residence

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Although Florida was chosen for the Hardest Hit Fund because 37 percent of its homes lost value after the crash, the Treasury Department did not press the state to provide assistance when home.

See your state’s agency website for the most current information. If your state doesn’t participate in the Hardest Hit Fund, call us at 1-800-848-9380 to discuss your mortgage options. The sooner you call, the sooner we can help. Customer eligibility and programs vary by state and are subject to change.

HHF Florida Date: May 26, 2017 SERVICE SCHEDULE B-1 Florida Hardest Hit Fund Unemployment Mortgage Assistance Program Summary Guidelines 1. Program Overview The Unemployment Mortgage Assistance Program ("UMAP" or the "Program") focuses on the creation of a sustainable solution to keep Florida unemployed or

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