Florida’s Hardest Hit Fund Programs Closed

Florida closed its Hardest Hit Fund programs that provided funds to homeowners to make mortgage payments, reinstate a defaulted loan, or pay down the principal of a loan. But the Elderly Mortgage Assistance (ELMORE) program is still accepting applications.

Florida previously had three Hardest Hit Fund Program programs for homeowners who were potentially facing a foreclosure: the Unemployment Mortgage Assistance Program, the Mortgage Loan Reinstatement Payment Program, and the Principal Reduction Program. These programs provided temporary mortgage payment and reinstatement assistance, as well as money to pay down the principal of underwater mortgage loans, to eligible homeowners. Florida closed all of these programs on January 31, 2018, due to a lack of funding, even though the programs were originally scheduled to end in 2020.

The last remaining Hardest Hit program for Florida homeowners who are in danger of foreclosure is the Elderly Mortgage Assistance (ELMORE) program. This program provides up to $50,000 to elderly homeowners who have reverse mortgages. An eligible homeowner may use funds from the program to get current on their property taxes, flood insurance, and homeowners’ insurance, as well as homeowners’ or condominium owners’ association dues. (To learn more about the ELMORE program, including eligibility requirements, see Florida’s Hardest Hit Fund Program.)

Effective date: January 31, 2018