Real Property - Current Laws

REAL PROPERTY UPDATE

June 3, 2011

A new federally funded program is now accepting applications for mortgage assistance payments in Florida. The Florida Hardest-Hit program pays an applicant’s mortgage for up to six months to help them to focus on finding a job. There is a maximum, however, of $12,000. Also, the program will pay out up to $6,000 to bring loans current. This program is available for the homeowners residing anywhere in the State of Florida. The number to call for additional information is 1-877-863-5244. If you are a homeowner in another state, then please contact your Congressman or woman to see what kind of mortgage assistance is available in your state.

The Central Florida Community Action Agency has funds to pay electricity bills. To qualify for assistance, total household income must be within 150 percent of federal poverty levels. This program is only for individuals residing within Central Florida.

On September 8, 2010, another phase of the foreclosure assistance program under the Obama administration became effective.  This program is for individuals who are current on their house payments and their home equity is upside down.  Under this plan your current lender must agree to forgive the debt on your home up to $10,000 and the the government will sponsor you for a modification or a refinance if you are otherwise eligible.  For more information contact your local Congressman or woman in the state that you reside in.