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Contact:
Jacqui Sosa Peters (850) 488-4197
For Immediate Release:
06/26/2012

Changes to Florida Hardest-Hit Fund Expected to Help Even More Troubled Homeowners

Tallahassee—Florida Housing Finance Corporation (Florida Housing) was recently notified that the United States Department of Treasury (Treasury) approved changes to the Florida Hardest-Hit Fund (HHF), which means even more troubled homeowners in the state will be eligible to receive financial assistance from the program. Revised eligibility criteria and program benefits are effective, and available on the official website at www.FLHardestHitHelp.org

Homeowners who previously applied for HHF program assistance, but were not eligible at that time may request their application to be reconsidered by contacting the HHF Advisor Agency that initially worked with them; they do not need to start a new application. Current program participants will automatically have their financial assistance extended in accordance with the changes.

Expanded program benefits are as follows:
1. Unemployment Mortgage Assistance Program (UMAP) will provide up to 12 months of payments (with a cap of $24,000) to the mortgage lender to assist unemployed/underemployed borrowers with their first mortgage until they can resume full payments on their own. In addition, up to $18,000 can be paid up-front to reinstate a delinquent first mortgage before UMAP payments commence. Total assistance available is up to $42,000.
2. Mortgage Loan Reinstatement Payment (MLRP) Program will provide up to $25,000 as a one-time payment to bring a delinquent mortgage current for a homeowner who has returned to work or recovered from underemployment/underemployment.

Homeowners in all Florida counties may apply for assistance using the official HHF website: www.FLHardestHitHelp.org

First announced on February 19, 2010, by the US Department of the Treasury (Treasury), the “Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets” (HFA Hardest-Hit Fund) provides federal funding to states hardest hit by the aftermath of the burst of the housing bubble. To date, $7.6 billion has been infused into the HFA Hardest-Hit Fund for 18 states and the District of Columbia; Florida’s total allocation currently stands at more than $1 billion. The goal is to help troubled homeowners sustain and keep their homes, ultimately, to avoid foreclosure.

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