67-59.210. Eligibility for PR

To be eligible for assistance under the PR Program:

(1) The Applicant must document that he or she is a borrower or co-borrower on the mortgage loan and also document that he or she:

(a) Has a loan-to-value ratio on their first mortgage loan of 125% or greater;

(b) Is a legal U.S. Citizen or lawful permanent resident;

(c) Occupies the property as his or her primary residence;

(d) Has a total household income, adjusted for household size, that is below 140% of the county area median income. The Area Median Income List, AMI-01, Rev 12/12, for counties in Florida.

(e) Does not have a bankruptcy that has not been discharged or dismissed;

(f) Has not been convicted of a mortgage related felony in the last ten years;

(g) Has not been more than 60 days late on their first mortgage loan payments within the last two years; and,

(h) The Applicant’s mortgage loan servicer must agree to recast the loan pursuant to The Agreements, after applying the principal reduction payment except in the case of Federal Housing Administration (“FHA”), Veterans Administration (“VA”) and United States Department of Agriculture Rural Development (“USDA-RD”) loans.

(2) The Applicant must document that his or her primary residence:

(a) Is located in Florida;

(b) Is a single family home, a townhouse, a condominium, a 1 to 4 family home where the owner occupies one unit or a mobile or a manufactured or mobile home on foundation permanently affixed to real estate owned by the mortgagor;

(c) Is not abandoned, vacant or condemned;

(d) Is not the subject of any pending litigation; and,

(e) Was acquired prior to January 1, 2010.

(3) The Applicant must document that the mortgage loan for his or her primary residence:

(a) Is serviced by a regulated financial institution, Habitat for Humanity, the United States Department of Agriculture or other servicer whose servicing activities are regulated by the State of Florida or the United States Government;

(b) Has an outstanding principal balance that does not exceed $350,000; and,

(c) Is in first lien position.

(4) Procedures for determining eligibility are detailed in the Florida HHF Principal Reduction Procedures Manual, HHFM-02, Rev. 7/13 (http://www.flrules.org/Gateway/reference.asp?No=Ref-04413), which is hereby adopted and incorporated by reference. Copies may be obtained at no cost, by contacting Florida Housing, HHF program at [phone].

(5) Should Florida Housing or its third party advisor agency determine at any time that an Applicant has provided false or misleading information in an attempt to improperly obtain Hardest Hit Fund assistance, the Applicant will be deemed ineligible for all Programs and the matter will be referred to the U.S. Treasury and other authorities, as appropriate.

Rulemaking Authority 420.507(33) FS. Law Implemented 420.507(33) FS. History–New 12-12-13.