Under the leadership of Executive Director Trey Price, Florida Housing Finance Corporation (Florida Housing) has distributed funds allocated for three programs in Florida’s Hardest-Hit Fund (HHF) two years ahead of schedule. The Unemployment Mortgage Assistance Program, Mortgage Loan Reinstatement Program, and Principal Reduction Program were originally scheduled to end in 2020. Qualifying homeowners may continue to apply for assistance through these programs until .
As of November 30, 2017, 46,908 Florida families have received assistance through HHF programs, and Florida Housing has disbursed 89.81percent of the $1.135 billion received from Treasury.
“Florida Housing is pleased to have positively impacted the lives of more than 46,000 Floridians and helped them save or buy a home,” said Price, who joined Florida Housing in March. “We are focused on providing housing solutions, and distributing these funds in an efficient and effective manner.”
Homeowners who qualify may apply for mortgage or principal reduction assistance from these three HHF programs until the , deadline. Applications received on or before the deadline will be processed.
Those Florida HHF programs are as follows:
· Unemployment Mortgage Assistance Program (UMAP), which provides up to 12 months of payments (with a cap of $24,000) to assist homeowners who are unemployed, underemployed or have suffered a financial hardship due to death, divorce or disability.
· Mortgage Loan Reinstatement Program (MLRP), which provides up to $25,000 assistance to reinstate a delinquent mortgage.
· Principal Reduction Program (PR), which provides up to a $50,000 principal reduction for homeowners who are underwater on their mortgage.
HHF Program Stats and Testimonials
· Unemployment Mortgage Assistance Program (UMAP)- As of November 30, 2017, UMAP has assisted 19,308 Floridians.
· Mortgage Loan Reinstatement Program (MLRP)- As of November 30, 2017, MLRP has assisted 19,208 Floridians.
· Principal Reduction Program (PR)-As of November 30, 2017, PR has assisted 6,430 Floridians.
To hear participants discuss their experience click here.
Those interested in applying for the UMAP or MLRP programs, visit www.flhardesthithelp.org
Those interested in applying for PR program, visit www.principalreductionfl
For more information on Florida Housing, visit www.floridahousing.org.