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Satisfaction of Mortgage for Freddie Johnson Through Community Development Block Grant Housing Rehabilitation Program
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BRIEF OVERVIEW
Freddie Johnson entered into a Community Development Block Grant (CDBG) Housing Rehabilitation Program mortgage on November 25, 2019, in the amount of $36,315 for 22325 Whitman Road, Brooksville, Florida. The housing assistance plan at the time allowed for forgiveness of the mortgage with no repayment of the loan in the event that the sole owner dies within the specified loan period. Staff prepared the attached Satisfaction of Mortgage after receiving notification that the Mortgagee has passed away.
Funds to pay for recording the Satisfaction of Mortgage in the amount of $10.00 was received and forwarded to the Finance Department.
STRATEGIC PLAN INITIATIVES
Improve the quality of life to Hernando County residents
FINANCIAL IMPACT
Expense in the amount of $10.00 to satisfy the cost of recording will be charged to:
Fund: BCC GENERAL FUND - B001, Department: HEALTH & HUMAN SERVICES - 150, Account: OPERATING -OTHER SERVICES - 533400
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairman’s signature on the attached Satisfaction of Mortgage.