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Florida Submits Detailed Proposal for Utilization of Hardest Hit Funding

"Due to the high levels of home price declines and unemployment in the Sunshine State, Florida Housing Finance Corporation (Florida Housing) was selected as one

of five state housing finance agencies to receive funding through the administration’s Hardest Hit Fund. Of the initial $1.5 billion in federal funding allocated for these markets, Florida Housing is slated to receive $418 million, pending the approval of its proposal.

In its proposal, which is currently being reviewed by the Treasury Department, Florida Housing outlined two strategies that will help homeowners either stay in their home or achieve an outcome that is better than losing their home at a foreclosure sale. In addition, the agency proposed a third strategy designed to protect home values across the state."

Very informative. For the full article click here.