by Mike Vogel
Updated 4 yearss ago
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)
» 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.