Florida FHA Loan News

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

Hardest Hit Fund (HHF) Programs The US Treasury administers the Hardest Hit Fund, which provides aid to the states that were most impacted by the economic crisis. Each of these states have local agencies that help homeowners in various ways, including mortgage payment assistance for the unemployed, principal reduction, and transactional assistance.

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Michelle Slade, analyst at Moneyfacts.co.uk, said: ‘The number of cuts to mortgage rates has slowed in the last week. Lenders are likely to be playing a wait and see game at the moment to see how.

programs that address the unique issues of our state. 2) What is the Florida HHF ELMORE Program? The Florida Hardest-Hit fund elderly mortgage assistance (elmore) program is designed to assist senior homeowners with a reverse mortgage remain in their homes, by providing eligible borrowers up to $25,000 to bring their property

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The Hardest Hit Fund (HHF) provides $7.6 billion to 18 states and the District of Columbia to assist struggling homeowners through locally tailored programs administered by each respective housing finance agency (HFA) in order to help prevent foreclosures and stabilize housing markets. These areas were designated "hardest hit"

Despite Florida still being the center of the nation’s foreclosure crisis, state officials chose not to apply for $250 million in federal foreclosure assistance funds.

Mortgage Treasury boosting Hardest Hit Fund by $2 billion, extends program to 2020. and assisted nearly a quarter of a million homeowners.. to request amounts up to 50% of their existing HHF.

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