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Some Relief for the Hardest Hit

A new mortgage-assistance program administered last month promises to help numerous Floridians stave off foreclosure. Florida’s Hardest Hit Fund (FHHF)—a product of federal funding to states hardest hit by the real estate market collapse—is expected to assist 40,000 Floridians. Since Florida is one of the states most adversely affected by the foreclosure epidemic, its total allocation for the program now stands at more than $1 billion. With unemployment in Florida remaining at double-digits, and thousands of mortgages in delinquency, the FHHF may be welcome relief for many state residents.

FHHF is designed to aid unemployed homeowners by paying their mortgages for up to 6 months, or helping them get caught up on as much as $6,000 in past due payments. The homeowner must be unemployed or underemployed, and must be no more than 6 months behind on mortgage payments. The program only applies to primary residences (“owner-occupied”). There are several other eligibility requirements, and, if you think you may qualify for the program, you should research and know as much as possible about the applicable restrictions before applying.

For more information, or to apply, visit www.flhardesthithelp.org. The application process is free of charge. The official website not only contains information about how to apply, but also provides a program fact sheet, a detailed explanation of the relevant qualification restrictions, a section devoted to frequently asked questions, and links to resources that are helpful to those experiencing financial hardship.

Please be advised that this article does not constitute legal advice nor does it provide any basis to form an attorney-client relationship. Nothing in this article should be copied without the express permission of the author.

Mr. Hounchell has a law degree from The University of Florida College of Law and he is a partner in The Law Offices of Charles A. Hounchell, P.A. � Attorneys & Counselors at Law, in Tampa, Florida. Mr. Hounchell obtained his undergraduate degree from The George Washington University in Washington D.C. and he obtained his MBA in International Management from the American Graduate School of International Management (“Thunderbird”) in Glendale, Arizona..

Mr. Hounchell is a licensed real estate agent with Smith and Associates, Inc. www.smithandassociates.com; www.livecasanova.com. He has lived in many different countries, including Spain, Brazil, Argentina, Mexico and Germany and he speaks Spanish and Portuguese. A significant portion of Mr. Hounchell’s law practice is concentrated on Real Estate Law. He can be reached at 813-230-3376 or charlie@floridapropertylaw.com