There are various federal programs available to assist with unexpected homeowner costs such as home repairs and affordability measures.
Single Housing Rehabilitation (Home Repair) Program provides home repairs and architectural barrier removal to low and moderate-income homeowners.
Water/Sewer Connection Program provides financial and technical assistance to low and moderate eligible homeowners for rehabilitation of substandard dwellings. The assistance is used to make home repairs on single family owner-occupied properties. The homeowners qualify for the program based on family size and income.
Broward County Cities consolidated plans and/or annual action plans will contain information about funding programs that some cities may offer. Review your city's plan to learn if there is a funding program available.
For additional information about these programs, visit Broward County's Housing Finance and Community Development Division web site or call 954-357-4900.
Federal Housing Administration (FHA) Refinance for Borrowers with Negative Equity (FHA Short Refinance) is designed to help homeowners refinance into more affordable, more stable FHA-insured mortgage. Call (877) 622-8525 for information.
Home Affordable Refinance Program (HARP) assists in securing new, more affordable/stable mortgage. HARP refinanced loans require a loan application and underwriting process, and refinance fees will apply. For information about Fannie Mae visit www.KnowYourOptions.com or call (800) 732-6643. For information about Freddie Mac visit www.FreddieMac.com or call (800) 373-3343.
Home Affordable Modification Program (HAMP) helps financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term.
- FHA Home Affordable Modification Program (FHA-HAMP). Call (877) 622-8525 for information.
- Military homeowners who are permanently displaced by a job-related move may qualify for a HAMP mortgage modification. Contact your loan servicer and ask if they participate in the program. Or call (888) 995-4673 for a housing counselor.
USDA Special Loan Servicing provides relief to rural homeowners. Call your loan servicer for information.
Veteran's Administration Home Affordable Modification (VA-HAMP) Call (877) 827-3702 for information.
Home Affordable Unemployment Program (UP) program may help reduce mortgage payments to 31 percent of your income or suspend them altogether for 12 months or more. Call (888) 995-4673 for more information.
Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HHF) provides aid for homeowners in states hit hardest by the economic crisis. State housing finance agencies have used the fund to develop programs that stabilize local housing markets and help families avoid foreclosure. Click here for all Housing Authorities in Broward County.
Mortgage Forgiveness Debt Relief Act and Debt Cancellation allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.
Principal Reduction Alternative (PRA) encourages mortgage servicers and investors to reduce amount of underwater home loans.
Second Lien Modification Program (2MP) works in tandem with HAMP to provide comprehensive solutions for homeowners with second mortgages to increase long-term affordability and sustainability. If the servicer of your second mortgage is participating, they can evaluate you for a second lien modification. Program ends December 31, 2013. Call (888) 995-4673 for information.
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