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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:
• Matthew S. Almeida in the amount of $10,000.00.
• Sara E. Borremans in the amount of $10,000.00.
• Joyce P. Briscoe and Eric J. Briscoe in the amount of $19,736.93.
• John M. Chiarella and Allison J. Hibbert in the amount of $13,400.00.
• Tammy D. Rau in the amount of $12,500.00.
• Trevor Ulm in the amount of $12,500.00.
• Krista L. Jones in the amount of $10,000.00.
• Danielle N. Snowdy in the amount of $10,000.00.
• Juan Pablo Cintron Cuadrado and Monica Enid Cintron in the amount of $10,000.00.
• Thomas A. Griffiths and Ariel O.S Williams in the amount of $19,165.00.
• Christopher Vascellaro in the amount of $25,000.00.
These 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 $78,136.93 and $74,165.00. 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 $78,136.93 and $74,165.00 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.