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Hardest Hit Program Exclusions

aadmii-sledge-hammer-15494292Hardest Hit Program Exclusions

You are not eligible for assistance through the Florida HHF program if one of the below conditions applies to you.

  • You filed bankruptcy and the bankruptcy is active. (If you previously filed bankruptcy and it was dismissed or you received a discharge, then you are eligible to apply for the program.)
  • You have been convicted of a mortgage-related felony in the last ten years.

How can I receive help during the application process?
If during the application process you are unsure as to how to complete the application, or you have
any questions at all, please click the “Assign Me Now” button, which is located throughout the
application. When you click this button, you will be immediately assigned to an advisor that can
assist you through the application process. Once they have reached out to
you, contact them regarding your questions aboutthe application.

Priority Appraisal and Mortgage Services Inc. is a residential appraisal firm experience in all areas of residential appraising in the Tampa Bay area. Focused in the Pasco, Pinellas and Hillsborough counties for the past 14 years. At Priority Appraisal and Mortgage Services, Inc. our customers are our priority. We provide fast accurate appraisals in a timely manner. We go above and beyond to fulfill your needs with any and all additional market information to serve your requirements.

For more appraisal info visit: http://PriorityAppraisalandMortgageServicesInc.appraiserxsites.com or call Shari Peterman directly at 727-505-6706. I look forward to hearing from you.

Hardest Hit Program Exclusions

Hardest Hit Florida Home Eligibility

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Hardest Hit Florida Home Eligibility

Home Eligibility Criteria for UMAP/MLRP

Additionally, your existing mortgage and the property securing the mortgage must meet the below criteria.

  • The property is located in Florida.
  • You occupy the property as your primary residence.
  • The property is a single-family home, a condominium, a townhome, or a one-to-four unit dwelling of which one unit is occupied by the borrower as a primary residence.
  • The property is not abandoned, vacant, or condemned.
  • You do not have more than one property other than your primary residence.
  • The outstanding principal balance on the first mortgage does not exceed $400,000.
  • The mortgage is not seller-financed.

Mobile or manufactured homes are eligible for assistance if on a foundation permanently affixed to real estate that is owned by the homeowners

Priority Appraisal and Mortgage Services Inc. is a residential appraisal firm experience in all areas of residential appraising in the Tampa Bay area. Focused in the Pasco, Pinellas and Hillsborough counties for the past 14 years. At Priority Appraisal and Mortgage Services, Inc. our customers are our priority. We provide fast accurate appraisals in a timely manner. We go above and beyond to fulfill your needs with any and all additional market information to serve your requirements.

For more appraisal info visit: http://PriorityAppraisalandMortgageServicesInc.appraiserxsites.com or call Shari Peterman directly at 727-505-6706. I look forward to hearing from you.

Hardest Hit Florida Home Eligibility

Hardest Hit EHow

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Hardest Hit EHow

How the Program Works

UMAP/MLRP assistance is provided in the form of a 0% interest, deferred-payment loan secured by a junior lien that is recorded against the property. The loan is forgiven over a five-year period at 20% per year starting 18 months after acceptance into the program. You only need to repay the loan if:

  • you sell your home prior to the end of the loan period and there are sufficient proceeds from the sale to pay all superior secured loans, or
  • if you refinance the first mortgage loan to consolidate debt or receive cash out.

Borrower Eligibility

To be eligible for Florida HHF assistance, you must meet all of the below criteria.

  • You are a Florida resident and a legal US resident/legal alien.
  • You have experienced a financial hardship, which is the result of at least a 10% reduction in income due to unemployment or underemployment. (A reduction of income due to the death, divorce, or permanent disability of a borrower or co-borrower will not qualify.)
  • Your total household income is below 140% of the area median income as provided by U.S. Department of Housing and Urban Development. (“Total household income” means all income for persons living in the home who are age 18 years and older.)
  • You meet program underwriting guidelines.

Homeowners who have $5,000 (or an amount equal to or more than three times the total monthly mortgage payment including taxes and insurance) in assets must first use those assets toward mortgage payments or other existing debt before being eligible for UMAP/MLRP funds.

Priority Appraisal and Mortgage Services Inc. is a residential appraisal firm experience in all areas of residential appraising in the Tampa Bay area. Focused in the Pasco, Pinellas and Hillsborough counties for the past 14 years. At Priority Appraisal and Mortgage Services, Inc. our customers are our priority. We provide fast accurate appraisals in a timely manner. We go above and beyond to fulfill your needs with any and all additional market information to serve your requirements.

For more appraisal info visit: http://PriorityAppraisalandMortgageServicesInc.appraiserxsites.com or call Shari Peterman directly at 727-505-6706. I look forward to hearing from you.

Hardest Hit EHow