Cuevas, Garcia & Torres, P.A.
contact Our Firm Today

Report: Florida is not disbursing foreclosure aid as it should

Homeowners in Florida facing foreclosure may qualify for federal programs intended to help those who were hit hard by the housing crisis. Many people dealing with real estate issues often find that they are upside-down on their homes. In other words, they owe more money on their house than the house is worth. To combat the situation, which countless people across the country find themselves in, the federal government launched several assistance programs. Unfortunately, a recent report found that Florida is failing to execute that effort.

There are 18 states that participate in the Hardest Hit Fund, which is a program run by the U.S. Treasury Department. These states are tasked with approving homeowners for much-needed assistance when they face foreclosure. However, the special inspector general for the Troubled Asset Relief Program evaluated Florida and determined that the state is not performing as it should.

The report found that Florida has one of the highest rates of denying homeowners assistance. Further, the state has one of the lowest rates of granting assistance to homeowners. The U.S. Treasury Department claims that the program has taken several steps forward recently. However, critics claim that the Treasury Department failed to set spending targets that would have enabled Florida to provide assistance to homeowners earlier during the economic downturn.

People who are at risk of losing their homes should know which programs are available to them and how to secure assistance. The sooner a homeowner takes action, the better off they may be. Anyone with questions about this issue should consult with an attorney.

Source: CBS Miami, “Federal report: Florida lags in disbursing foreclosure aid,” Oct. 6, 2015


No Comments

Leave a comment
Comment Information
The Florida Bar | 1950 American Bar Association DADE County Bar Association | 1916 Orange County Bar Association Coral Gables Bar Association American Immigration Lawyer Association

Contact Us Today. Call 877-801-4135 or complete this form to schedule a consultation with our legal experts.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Offices Conveniently Located in Miami And Orlando
Google+ Facebook

Miami Dadeland Office
7300 North Kendall Drive
Suite 680
Miami, FL 33156

Toll Free: 877-801-4135
Phone: 305-461-9500
Fax: 305-448-7300
Map & Directions

Midtown Miami Office
3401 North Miami Avenue
Suite 209
Miami, FL 33127

Toll Free: 877-801-4135
Phone: 305-461-9500
Fax: 305-448-7300
Map & Directions

Orlando Office
801 North Magnolia Avenue
Suite 221
Orlando, FL 32803

Toll Free: 877-801-4135
Fax: 786-362-7127
Map & Directions

Email This Office