Help is here for Florida’s hardest hit homeowners

April 19th, 2011 by Staff

ORLANDO — If you have been struggling to meet your mortgage payments, help could be on the way.

You could quality for a share of $1 billion in federal funding, which becomes available starting Monday.

See if you qualify and apply now: Florida Hardest Hit

Homeowners can get up to $12,000 from Florida’s Hardest-Hit mortgage assistance program.

The idea is to help the unemployed and underemployed get back on their feet, and stay in their homes.

Here’s how it works: The program is split into two subprograms:

1. Unemployment Mortgage Assistance Program
The first program gives troubled homeowners funds for their mortgage payment for up to $12,000 or for six months, whichever comes first.

According to the Hardest Hit fund website, homeowners participating in the program will be required to pay 25 percent of their monthly income toward the monthly mortgage payment.

2. Mortgage Loan Reinstatement Payment Program
The funds in this subprogram are used to bring a delinquent mortgage current.

This program will hand out up to $6,000 to those who are unemployed and can complete a hardship affidavit.

Florida starts taking applications for both subprograms starting at 9 a.m. Monday.

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