October 23, 2014

Financing Florida Real Estate

Hardest Hit Fund

In Florida, only 12% of the program's applicants were approved.

Mike Vogel | 3/26/2012

The Hardest Hit Fund is a federal loan program established in 2010 that provides up to $12,000 over six months to unemployed or underemployed homeowners struggling to make mortgage payments. In Florida, only 12% of the program’s applicants have been approved. The No. 1 reason for not qualifying? Having an adequate job. Other disqualifying reasons include making too much money, being too late on mortgage payments or having a principal balance over $400,000.

Florida homeowners who applied for money from the Hardest Hit Fund
(as of Jan. 6)

» Applications submitted - 36,426

» Completed applications - 24,197

» Ineligible homeowners - 10,336

» Canceled applications - 7,539

» Approved for the program - 4,487

» Approved by mortgage servicer and application closed - 3,389

» Completed and exited the program - 364

» Homeowners who finished the program and received assistance - 152

Source: Florida Housing Finance Corp.

Tags: Banking & Finance

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Florida Orchestra's Michael Francis
Florida Orchestra's Michael Francis

Florida Orchestra's Michael Francis talks making music and a home.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Jeb Bush has said he'd accept tax increases as long as they are paired with federal spending cuts. This stance runs counter to conservatives who oppose tax hikes. Is Bush right?

  • Yes - raising taxes should be considered
  • No - there's enough money, need to manage it better

See Results

Ballot Box
Subscribe