Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid

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hardest hit fund (HHF) Programs The US Treasury administers the Hardest Hit Fund, which provides aid to the states that were most impacted by the economic crisis. Each of these states have local agencies that help homeowners in various ways, including mortgage payment assistance for the unemployed, principal reduction, and transactional assistance.

The United States Treasury established the Hardest Hit Fund in February 2010, to provide targeted aid to states hit hardest by the subprime mortgage crisis which began in 2007. Each state housing agency gathered public input to implement programs designed to meet the distinct challenges struggling homeowners in their state were facing.

The Senate has passed a massive housing aid package. communities hardest hit by the housing crisis from sliding into blight. The White House singled out the money in its veto threat, calling it a.

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Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid $250 million slips away from underwater homeowners as officials pass on Hardest Hit funds. Florida Sen..

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The state’s new reverse mortgage program comes just weeks after Florida Housing similarly expanded its Hardest-Hit foreclosure aid to also offer principal reductions for underwater borrowers. The two new programs come amid complaints from Congress that the program’s $1 billion allotment to help homeowners bruised by the recession was not.

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August 11, Treasury again expanded the HFA Hardest-Hit Fund to include a total of 18 states and the District of Columbia, and added an additional $2 billion. Florida received another allocation of funds, $236.8 million, from the third round of funding , which added to the initial allocation of $418 million,