The Florida Hardest Hit Fund program to help underwater homeowners ended Oct. 2 after 25,000 owners applied. But it might reopen and accept new applications next year. Even though the property values in Tampa Bay have gone up over the last 18 months many homeowners are still underwater and need help.
Underwater homeowners could get more state help with mortgages
“Florida homeowners current on their mortgages are expected to get a second chance to slice as much as $50,000 off the amount they owe.
Key leaders of a state agency that is distributing the money said this week they want to open a second round of funding to reduce the amount Floridians owe on homes that are financially “underwater” – those worth less than their mortgage balance.
The first round was so popular that the state stopped taking applications Oct. 2, less than a week after the program started. The housing group's computer system initially crashed under the weight of an application per minute on the first day. More than 25,000 Florida homeowners applied before the state stopped the process.”
WPTV News did this report on the Florida Hardest Hit Fund program. Check it out.
Please keep in mind that there are certain requirement in order to qualify for the Hardest Hit Fund program. This is a great program for Floridian's that offers a little bit of relief if you are struggling financially.
If you know anyone that is upside down on their mortgage please share this post.
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