New Fund aims to help Florida’s most vulnerable Homeowners
- At May 10, 2022
- By fhfla
- In News
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A new program in Florida aims to prevent at least 20,000 families from losing their homes.
The Homeowner Assistance Fund has awarded more than $6.2 million so far to people who have experienced a financial hardship and need help paying their mortgages, utilities, and other bills.
Congresswoman Lois Frankel and other lawmakers want to get the word out that there’s hundreds of millions of dollars still on the table. Florida has more than $676 million set aside for the fund, made possible by the American Rescue Plan.
Eligible homeowners need to have experienced a financial hardship from Jan. 21, 2020, or that continued after that date, and they can only request assistance for their primary residence.
Priority is given to Florida’s most vulnerable homeowners who are defined by the following criteria:
The annual household income is less than or equal to 100% of the Area Median Income (AMI) (or 100% of the U.S. AMI, whichever is greater); The eligible property is in a census tract with a median income that is less than or equal to the U.S. AMI; The applicant is a Socially Disadvantaged Individual, or the eligible property is in a Florida economically distressed rural county or city.
Money homeowners are awarded can be used towards not only their mortgage, but also homeowner’s insurance, utility payments and internet.
So far, 386 applications have been approved by the Florida Department of Economic Opportunity. More than 24,000 eligible registrations have been submitted.
Homeowners can complete the first step in determining their eligibility by clicking here.
