Debt Relief, Foreclosures, Timothy Kingcade Posts

State Passes on Hardest Hit Funds- Florida Homeowners out $250 Million

Floridians fighting to save their homes from foreclosure are losing out on $250 million in mortgage assistance because state officials opted not to apply for additional money from the federal Hardest Hit Fund. The fund was created six years ago to help those states hardest hit by the housing market crash and foreclosure crisis. All of the board members who voted to turn down the assistance were appointed by Governor Rick Scott, a Republican who has opposed federal bailout programs and whose office once pressured the housing agency to limit the time homeowner’s could receive the Hardest Hit help.

Florida Senator Bill Nelson calls the decision “tragic” and has repeatedly blasted state officials for their slowness in spending the $1 billion that Florida originally received.  As of January 1, 2016, the state had spent less than two-thirds of that amount and helped only 25,000 homeowners while rejecting 120,000.

In addition, the federal official who oversees the Treasury’s management of the Hardest Hit Fund has criticized Florida, issuing a report that found the state had “consistently under-performed” other states in the use of the relief money.

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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at