The Real Deal Miami

Florida gets more Hardest Hit program funds

August 20, 2010 11:15AM

The Obama Administration has increased funding for Florida

Florida now has a total of $656.8 million to help struggling homeowners
after another infusion of money last week from the White House’s
“Hardest Hit” program. While funding was originally announced in
February, the additional money will reportedly increase the number of
homeowners helped from 12,000 to 20,000. The money is intended to help
unemployed or underemployed borrowers pay their mortgages for up to 18
months while they seek new jobs. Distribution of the money is likely on
hold, however, until early 2011, as the Florida Housing Finance
Corporation is working to amend its plan for the money. [Palm
Beach Post]