New fund aims to help Florida’s most vulnerable homeowners

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A new program in Florida aims to prevent at least 20,000 families from losing their homes. The Homeowners Assistance Fund has so far awarded more than $6.2 million to people who have experienced financial hardship and need help paying mortgages, utilities and other bills. Nationwide: National Coverage of WPBF 25 NewsCongresswoman Lois Frankel and other lawmakers want to spread the word that there are still hundreds of millions of dollars on the table. Florida has more than $676 million set aside for the fund, made possible by the US bailout. It couldn’t have come at a better time for Monica Figueroa, a Lake Worth mother with five children and eleven grandchildren. Her home was due for foreclosure on Monday, but that didn’t happen thanks to the fund. “My family and I have been through so much over the past few years, falling behind on the mortgage due to loss of income,” Figueroa said. .Figueroa lost her job as a retail manager during the pandemic, forcing her and her family to resort to desperate measures to make ends meet. Figueroa. She has since found a new job and applied for what she thought was a loan modification in order to keep her house, but it ended up being a scam. Then she contacted Palm Beach County officials who directed her to the Florida Department of Economic Opportunity and its new Homeowner Assistance Fund. their utilities, their insurance and even their broadband,” Frankel said. Frankel and other lawmakers gave Figueroa the chance to share her story in downtown West Palm Beach on Monday to raise awareness for the fund. Eligible owners must have experienced financial hardship. from January 21, 2020, or continued after that date, and they can only apply for assistance for their main residence. Priority is given to Florida’s most vulnerable homeowners who are defined by the following criteria: Annual household income is less than or equal to 100% of the regional median income (AMI) (or 100% of the U.S. AMI, depending on the higher ); The qualifying property is in a census tract with a median income less than or equal to the US AMI; The applicant is a socially disadvantaged person, or the eligible property is in an economically challenged county or rural town in Florida. for the program, calling it a miracle. “Thank goodness they have the program and they were able to help me save my house because we’ve been here for 13 years and we have so many memories, so I’m thrilled,” Figueroa said. So far, 386 applications have been approved by the Florida Department of Economic Opportunity. Over 24,000 eligible records have been submitted. Owners can complete the first step to determine their eligibility by clicking here. Follow us on social networks: Facebook | Twitter | instagram

A new program in Florida aims to prevent at least 20,000 families from losing their homes.

So far, the Homeowners Relief Fund has awarded more than $6.2 million to people who have experienced financial hardship and need help paying their mortgages, utilities and other bills.

Around the country: National coverage of WPBF 25 News

Congresswoman Lois Frankel and other lawmakers want to make it known that there are hundreds of millions of dollars left on the table. Florida has more than $676 million set aside for the fund, made possible by the US bailout.

It couldn’t have come at a better time for Monica Figueroa, a Lake Worth mother with five children and eleven grandchildren. Her home was due for foreclosure on Monday, but that didn’t happen thanks to the fund.

“My family and I have been through so much over the past few years, falling behind on the mortgage due to loss of income,” Figueroa said.

Figueroa lost her job as a district retail manager during the pandemic, forcing her and her family to resort to desperate measures to make ends meet.

“We lived without water for four months going to neighbors, bringing small jugs of water,” Figueroa said.

She has since found a new job and applied for what she thought was a loan modification in order to keep her house, but it turned out to be a scam.

Then she contacted Palm Beach County officials who directed her to the Florida Department of Economic Opportunity and its new Homeowner Assistance Fund.

“We’re going to talk about how we can help people, homeowners who are struggling to pay their mortgage, their utilities, their insurance and even their broadband,” Frankel said.

Frankel and other lawmakers gave Figueroa the chance to share her story in downtown West Palm Beach on Monday to raise awareness about the fund.

Eligible homeowners must have experienced financial hardship on or after January 21, 2020, and they can only apply for assistance for their primary residence.

Priority is given to Florida’s most vulnerable homeowners who are defined by the following criteria:

Annual household income is less than or equal to 100% of the Regional Median Income (AMI) (or 100% of the US AMI, whichever is greater); The qualifying property is in a census tract with a median income less than or equal to the US AMI; The applicant is a socially disadvantaged person, or the eligible property is in an economically challenged rural Florida county or town.

The money homeowners receive can be used not only for their mortgage, but also for home insurance, utility and internet payments.

Figueroa is beyond grateful for the program, calling it a miracle.

“Thank goodness they have the program and they were able to help me save my house because we’ve been here 13 years and we have so many memories, so I’m thrilled,” Figueroa said.

So far, 386 applications have been approved by the Florida Department of Economic Opportunity. Over 24,000 eligible entries were submitted.

Owners can complete the first step to determine their eligibility by clicking here.

Follow us on social networks: Facebook | Twitter | instagram

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