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Satisfaction of Second Mortgage for Ramon Gonzalez, Jr. and Kerri Gonzalez Through Neighborhood Stabilization Program Purchase Assistance Program
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BRIEF OVERVIEW
Ramon Gonzalez Jr. and Kerri Gonzalez entered into a second mortgage with Hernando County under the Hernando County Florida Neighborhood Stabilization Program (NSP) Purchase Assistance Program on December 4, 2009, in the amount of $20,000.00.
According to the Housing Assistance Plan, borrowers receiving funds under the program must pay back 100% of the funds should they sell, transfer, no longer occupy, rent, or refinance the property within the affordability period. Should they remain in the home through and beyond the affordability period the loan is forgiven. The affordability period for Raymond and Kerri Gonzalez has expired and borrowers are still in the home. A satisfaction of mortgage is attached for approval.
Borrowers submitted the cost to record the satisfaction of second mortgage and those funds were deposited with the Clerk and Comptroller Finance Department.
FINANCIAL IMPACT
Funds to pay the cost of recording the satisfaction of mortgage in the amount of $10.00 are available in: Fund: 0011- General Fund, Department: 35089 - HHS/DCA CDBG NSP3 PGM, Account: 5304924 - Fees/Cost-Permit.
LEGAL NOTE
The Board has authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached satisfaction of mortgage.