Florida reopens program for underwater home borrowers

Published On: May 14 2014 10:41:33 AM EDT
Updated On: May 14 2014 10:54:05 AM EDT
TALLAHASSEE, Fla. -

Florida housing officials are reopening a program intended to help homeowners who owe far more on mortgages than their houses are worth.

The Florida Housing Finance Corporation announced this week that the online application for the Florida Hardest-Hit Fund Principal Reduction program will reopen at 9 a.m. Thursday.

Last year the program accepted 25,000 applications but only extended aid to more than 2,400 homeowners. Nearly $102 million out of an available $350 million has been spent.

Florida homeowners who have remained current on their mortgages but missed out on the opportunity to apply for the program last fall will be allowed to apply. Homeowners could get a break up to $50,000 if they qualify.

The online application will be available at the official Florida HHF Principal Reduction website: http://www.PrincipalReductionFLHHF.org

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