Gov. Charlie Crist, R-Fla., and representatives of the banking and mortgage lending industry have announced a voluntary agreement to provide foreclosure relief to Florida homestead property owners for the next 45 days.
‘I applaud these bankers and lenders for giving people hope during this challenging economic time," Crist says. "Struggling families and homeowners should rest easier during this holiday season, knowing that these lenders have heard the pleas of homeowners."
The Florida Bankers Association and the Florida Credit Union League have appealed to their member institutions to voluntarily cease filing new foreclosure petitions and scheduling foreclosure sales for homestead properties during the 45-day period.
Also, the Florida Department of Community Affairs has submitted to the U.S. Department of Housing & Urban Development (HUD) its proposed plan for distributing $91.1 million in federal Neighborhood Stabilization Program funds to smaller urban and rural communities to respond to rising foreclosures and falling home values. The funds will go to local governments to purchase foreclosed homes at a discount and rehabilitate or redevelop them.
In September, HUD announced that targeted Florida cities and counties would receive a total of $541 million in federal Community Development Block Grant funds for this purpose. The funds, as dictated under the Housing and Economic Recovery Act of 2008, are administered by the Florida Department of Community Affairs, Division of Housing and Community Development.
SOURCE: The Office of Gov. Charlie Crist
