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Broward County Florida Hardest-Hit Program: What Will Disqualify Me From The Program?

On behalf of Bankruptcy Law Firm of Clare Casas on Monday, January 17, 2011.

Under the Florida Hardest-Hit program that is going to roll out in Broward County next month, you must meet eligibility requirements. I've gone over those requirements in earlier posts and wanted to take a look at what type of situations or events would disqualify you from being considered.

Assets or Cash Reserves

If you have assets or cash reserves (retirement funds or qualified educations plans don't count), that are equal to, or more than, three times the total monthly mortgage payment on your house (including tax and insurance) - you must first use those assets towards your mortgage payment or other existing debt before you'll be eligible for UMAP/MLRP funds.

Financial Hardship Defined

The borrower/co-borrower must have experienced a financial hardship through no fault of their own. The reduction of income due to death, divorce or disability of a borrower or a co-borrower will not qualify as a financial hardship. (I'm not quite sure how they consider the death or disability of someone an event that one can control but that's what the guidelines say!)


A homeowner cannot have:

  1. A seller-financed mortgage;
  2. A bankruptcy that has not been discharged or dismissed; and
  3. A conviction within the last 10 years on a mortgage-related felony.

But that's not all...the property has requirements also! I'll write more about that at a later time.

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