The Real Deal Miami

Feds deny parts of foreclosure relief plan

June 25, 2010 11:15AM

The area is on pace for 70,000 foreclosure actions this year

The White House has denied several Florida proposals for foreclosure
relief funds, the Florida Housing Finance Corporation was informed
today. Florida is on track to receive $418 million of the money targeted
at states hit hard by the housing crisis, but only the program that
pays up to nine months of a mortgage for a homeowner if the bank agrees
to forgive up to nine months. Several other proposals, including $40
million in down payment assistance and $25 million in legal counsel for
homeowners in foreclosure, were rejected by the administration. [Palm
Beach Post]