This Bullsh#t is just insane! The one Deadbeat who raised her head to bit@h about her Hardest Hit money that was going to end in the paper was a serial refinancing victim who had been collecting rent on 2 condos for years when she was not paying the mortgage. They only pulled her BS when I posted her refis and condos in the local comments section AND SHE PASSED ALL THE CHECKS AND BALANCES TO GET THE HARDEST HIT MONEY!
“Florida’s changes include increasing the number of months homeowners can have their mortgages paid from six months with a $12,000 cap on payments to 12 months with a cap of $24,000.”
Florida homeowners to get mortgage paid for year under new Hardest Hit Fund rules
by Kim Miller
Changes to Florida’s more than $1 billion Hardest Hit Fund announced today will increase the amount of time homeowners can get mortgage assistance and eliminate roadblocks that have stymied program eligibility.
The Florida Housing Finance Corporation board approved the new rules in a meeting this morning in Jacksonville, but they must still get approval from the federal government.
Nationwide, $7.6 billion has been doled out to states with the most devastated housing markets through the Hardest Hit Fund, which was announced in February 2010. But a report released earlier this month said the programs, which are developed and administered by individual states, have been slow to start up and have helped too few homeowners.
Florida’s changes include increasing the number of months homeowners can have their mortgages paid from six months with a $12,000 cap on payments to 12 months with a cap of $24,000.
For homeowners who need to bring their mortgage payments current, the cap on payments was lifted from $6,000 to $18,000.
Also, the changes eliminate the requirement that homeowners be less than 180-days late on their mortgage payments. The new program says only that the homeowner cannot be in foreclosure to be eligible.
“We’re very excited to announce these changes just approved by our board this morning,” said David Westcott, director of homeownership programs and chief administrator for the Florida Hardest Hit Fund at the Housing Finance Corporation. “These changes are really good news and beneficial to a lot of hardest hit fund applicants and participants.”
The report earlier this month from the inspector general of the Troubled Asset Relief Program said as of the end of December, the Hardest Hit program has assisted just 30,640 people nationwide and spent only 3 percent of the available funds.
By the end of last year, 3,302 Florida homeowners had been helped with Hardest Hit money, while the state allocated $63.3 million as of February, according to the federal report.
But Cecka Green, communications director for the Florida Housing Finance Corp., said as of April 1, nearly $90 million had been reserved to assist 4,955 homeowners statewide.
About 350 Palm Beach County homeowners have received Hardest Hit money.
This entry was posted on Friday, April 27th, 2012 at 10:39 am and is filed under Condos, Florida economy, Foreclosures, Housing affordability, Real estate bust. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
8 Responses to “Florida homeowners to get mortgage paid for year under new Hardest Hit Fund rules”
1
Get in the Game Says:
April 27th, 2012 at 12:05 pm
Ahhh – the luxury to waste even more money.
Government slays me – throwing money around to grab votes.
And the nonsense continues…
2
lvent Says:
April 27th, 2012 at 12:46 pm
What are they doing? They would be better off rescinding. Or is their fear the hyper-inflated property taxes wont get paid because they ruined the economy? They created a disaster and we are all being bankrupted because of it. We need at least a 2 year property tax holiday to make up some of our losses and a nationwide loan rescission.
3
Craig Fialkowski Says:
April 27th, 2012 at 1:24 pm
As a local Realtor, I find this incredibly disturbing that the government continues to bail out people who will likely end up loosing the home to Foreclosure in the end. This only delays the inevitable and allows people to live rent free with MY tax dollars. I know for a fact several people who can easily afford to pay their mortgage but don’t. So they get the benefit of $2,000 month housing subsidy? Nobody is paying my mortgage but me. If I don’t pay, I’ll get foreclosed on. That’s the way it works! We have raised a society of give it to me for FREE. Also remember, the money goes to the BANKS!!! Backdoor bailout. I can sympathize that people have hardships, but like any responsible human, you need to adjust your lifestyle and reduce expenses. That generally means finding a more affordable place to reside, sell the BMW and buy a KIA, go grocery shopping instead of Ruths Chris. You can’t feed off the government bottle for the rest of your life.
4
Voice of Reason Says:
April 27th, 2012 at 1:47 pm
Craig et al, I couldn’t agree more. I just had my idiot neighbor crying the blues to me about being behind in his mortgage, (among other financial problems), and I noted that he was telling me this upon his return from the Panthers Playoff game with his family. If hockey tickets are more important than paying your mortgage, so be it; but don’t come crying to me and expecting any sympathy and certainly don’t expect a handout! To quote Jerry Seinfeld, “People…they’re the worst!”
5
Tom Says:
April 27th, 2012 at 1:55 pm
What is going on ? What is the incentive to continue to pay your bills ?
6
David Says:
April 27th, 2012 at 1:58 pm
This is just one more way for the government to funnel money directly to the banks. They are simply using the excuse of a homeowner overburdened with an inflated mortgage to do it.
7
Truth Says:
April 27th, 2012 at 3:16 pm
I want my 6 months paid too…
Oh wait, I forgot stupid no longer hurts, and we all have uncle nanny now.
I pay my bills on time, where is my free ride.
8
Florida homeowners to get mortgage paid for year under new Hardest Hit Fund rules Says:
April 27th, 2012 at 6:01 pm
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