New Florida Homeowner Assistance Program Begins

A new program designed to help distressed Florida homeowners has begun operations.


Central Florida News reports that the Florida Hardest-Hit program will use $1 billion in federal funds to help struggling homeowners make their mortgage payments for up to 18 months or make a delinquent loan current. The funds will go directly to lenders and will not need to be paid back unless the home is sold within five years.

The program will begin taking applications from Lee County residents before rolling out across the entire state. An estimated 20,000 homeowners may be eligible for program assistance.


SOURCE: Central Florida News