Mortgage Assistance Available in Florida: Are You Eligible?

The Florida Homeowner Assistance Fund program had $600 million available through Biden’s American Rescue plan of 2021. Section 3206 of the American Rescue Plan Act of 2021 established the Homeowner Aid Fund (HAF), and Florida received $676,102,379.00 in financial aid from the US Department of the Treasury. Administered by the Florida Department of Economic Opportunity (DEO), this program helps struggling homeowners with their delinquent mortgage payments, utilities, homeowners insurance, property taxes, and other housing-related fees. 

For more information on getting a grant and also learning about refinance programs, take a look at this.

According to the Florida Homeowners Assistance Fund program’s dashboard, almost $140 million have been disbursed so far and 5000 families have received assistance. The program offers up to $50,000.00 that are paid directly to mortgage servicers and other providers.   

“Our team at DEO is connecting with homeowners in communities across the state to bring awareness to the program, review applications in accordance with federal guidelines, and provide relief on an expedited timeline to help Florida homeowners achieve financial stability,” said DEO Secretary Dane Eagle. “As we continue to work with mortgage lenders and service providers to ensure continuity of services, we encourage applicants facing imminent foreclosures or service disruptions to notify their lenders and servicers of their participation in the HAF program and request a hold be placed on their account.”

Are you eligible for the Florida Homeowner Assistance Fund program?

There are specific requirements that must be met to qualify for these funds:

• The applicant must have experienced financial hardship as a result of the Covid-19 pandemics that began or continued after, January 21, 2020;
• The property must be located in the State of Florida;
• The property must be the applicant’s primary residence;
• The applicant’s income must be at or below 150% of the Area Median Income or 100% of the US Median Income, whichever is greater;
• Currently only Tier 1 homeowners are eligible.

The Florida Homeowner Assistance Fund program’s official website has an application form. Before being requested to finish an application, each participant must submit a registration. Call the Homeowner Assistance Fund Customer Assistance Center for additional details (833-987-8997).

For more information on getting a grant and also learning about refinance programs, take a look at this.