|
$238 million coming to Florida |
|
Written by Florida Auctions
|
|
Wednesday, 11 August 2010 |
$238 million coming to Florida to help jobless homeowners pay mortgages.
Florida will receive $238 million in additional federal aid to help struggling homeowners through a program that targets areas most hurt by the housing crisis.
The money, announced this morning, is part of an already established program called the "Hardest Hit Fund." Florida is already getting $418 million from the program, which was launched in February.
The additional money is coming from a pot of $2 billion that will be divided among 17 states, including Florida.
Also announced this morning was a second allocation of $1 billion that will go to areas not identified by the Hardest Hit fund to help homeowners who are unemployed, underemployed or suffering from medical problems.
Eligible homeowners will be able to receive emergency no-interest loans to pay the mortgage for up to two years.
"We remain committed to helping struggling homeowners, and this program will provide additional assistance to states hit hardest by unemployment," said Assistant Secretary for Financial Stability Herb Allison. "This is part of the Administration's comprehensive housing policy that has helped to stabilize a fragile housing market and allows responsible homeowners the chance to reduce their monthly mortgage payments to affordable levels."
More information on the programs will be available later.
|
Auction News 
