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State ends federal foreclosure aid with millions unspent – Orlando …

Florida on Wednesday will close its three largest Hardest Hit federal housing-aid programs — years early — with $88 million left unspent.

State officials say they are pleased they helped tens of thousands of struggling Floridians by spending 92 percent of Florida’s $1.1 billion share of federal funds. Officials are closing three opportunities for Floridians — mortgage principal reduction, mortgage help for the unemployed and underemployed, and aid on delinquent home loans.

State officials said the program was a success, despite data showing that Florida was behind other states in helping financially underwater homeowners. In shutting down the programs, the state cited Florida’s drop-off in foreclosures and strong job growth.

“Although the Florida HHF [Hardest Hit Fund] programs were originally slated to conclude by December 2020, we were able to meet the needs of struggling homeowners ahead of schedule,” said Trey Price, executive director for Florida Housing Finance Corporation, the state’s housing arm.

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