Attention Florida Residents – Floridians Get Mortgage Help
The state of Florida will give out about $60 million in mortgage help announced Atty. Gen. Pam Bondi. This is part of a national settlement over foreclosure abuse that totaled $25 billion.
Florida will use this money to help people with down payment assistance, housing counseling, legal aid and better funded courts for foreclosure related issues.
It was also approved that $35 million of this will go to down payment assistance which is what Pam Bondi had asked for.
$10 million will be used for housing counseling and $5 million will be used for the state courts to help them process foreclosure related issues another $5 million will go to the attorneys general office to help fund legal aid programs and $5 million will go to the attorney general’s office to reimburse them for their efforts to stop the abuses in the foreclosure process.
There is also another $200 million that the state has received to distribute as part of the settlement. The Florida State house decided that they would allocate those monies during the legislative session session this spring.
Florida will end up getting an estimated $84 billion in funds from the national settlement. Mortgage servicers GMAC, Bank of America, Citi, J.P. Morgan Chase and Wells Fargo have agreed to pay $25 billion to settle allegations of home owner abuse against struggling homeowners.
So far $3.6 billion in mortgage relief including loan reductions has been given out to Florida homeowners as part of the settlement.
There is also an allocated $170 million in relief to Floridians who lost their homes to foreclosure between 2008 and 2011. The deadline has now passed but you can still file a claim if you missed that deadline.You are not not guaranteed to get a check because you missed the deadline. For more information if you were foreclosed on between the years of 2008 and 2011 you can go to http://nationalmortgagesettlements.com to apply.