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Satisfactions of Various Mortgages Through Homeownership Down Payment Assistance Program
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BRIEF OVERVIEW
Attached are the following satisfaction of mortgages for Hernando County’s Homeownership Down Payment Assistance Program:
• Arther L. and Debra K. Frazier in the amount of $5,000.00.
• Lori A. Gestring in the amount of $12,500.00.
• Lauren A Hinchey in the amount of $13,175.00.
• Richard T. Jaeckel and Christy L. Jaeckel in the amount of $9,677.48.
• Michelle R. Oehlecker in the amount of $10,000.00.
• Kristina S Ortega in the amount of $8,900.00.
• Michael G. Santarpio and Amber M. Santarpio in the amount of $37,400.00.
• Sean M. Schiele and Jennifer M. Schiele in the amount of $15,000.00.
• David J. Stenger Jr. and Misty Stenger in the amount of $14,348.00.
The recipients received a second mortgage loan from the County funded through the State Housing Initiatives Partnership Program (SHIP). The loans are given to qualified homebuyers at zero percent interest.
The Housing Authority has received checks to pay off each mortgage in full, payable to Hernando County for a total amount of $126,000.48. The checks have been sent to the Finance Department for deposit. The checks represent the full payoff under the Homeownership Down Payment Assistance Program.
FINANCIAL IMPACT
Revenue in the amount of $126,000.48 to Fund #1271.
LEGAL NOTE
The Board has the authority to accept payment under the SHIP Program pursuant to the State Housing Initiative Partnership Act. Section 420.907, et seq., F.S.”
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached satisfaction of mortgage agreements.