Following Hurricane Irma most mortgage lenders offered grace periods for homeowners to defer their mortgage payments on uninhabitable homes while paying rent somewhere else.  According to an article from titled Hurricanes could bring a second disaster, “Roughly 4.8 million mortgaged properties were in the paths of Hurricanes Harvey, Irma, and Maria, representing nearly $746 billion in unpaid principal balances.”

The Florida Housing Finance Corporation (Florida Housing) was directed by the US Treasury to create and administer foreclosure prevention assistance programs that address the unique issues of our state.  The Florida Hardest-Hit Fund (HHF) offers Unemployment Mortgage Assistance Program (UMAP) and the Mortgage Loan Reinstatement Payment Program (MLRP).  For UMAP, a homeowner may receive a maximum of $24,000 in funds for a period not to exceed 12 months; additionally, homeowners who qualify for the UMAP can receive up to $18,000 to bring current their delinquent first mortgage prior to UMAP payments being made.  For MLRP, a one-time payment of up to $25,000 is available to bring current a delinquent first mortgage.  All funds will be disbursed by Florida Housing directly to the loan servicer on behalf of the homeowner.

The deadline for completing an application for these programs is January 31, 2018.  If you have not yet completed the application process and would like to see if you are eligible visit the Florida Hardest-Hit website.


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