Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid

Florida could have received up to $250 million in extra federal funding to help with foreclosures, but state leaders didn’t even bother to apply.

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Program Fact Sheet Background In February 2010, US Treasury (Treasury) created the "Housing Finance Agency (HFA) Innovation Fund for the Hardest- Hit Housing Markets" (HFA Hardest-Hit Fund) and allocated funds under the emergency economic stabilization Act of 2008 (EESA) to five states: Arizona, California, Florida, Michigan and Nevada.

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Although Florida was chosen for the Hardest Hit Fund because 37 percent of its homes lost value after the crash, the Treasury Department did not press the state to provide assistance when home.

Florida homeowners out $250 million in Hardest Hit funds after state passes on mortgage aid $250 million slips away from underwater homeowners as officials pass on Hardest Hit funds. Florida Sen..

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The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008," was proposed by Treasury Secretary Henry Paulson, passed by the 110th united states congress, and signed into law by President George W. Bush.

Florida’s Hardest Hit Fund got off to a slow start in 2010, a time when housing values had bottomed out and hundreds of thousands of Floridians could neither sell their homes nor afford their.