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Modification of Second Mortgage for Aliias Alexis and Alana Alexis Through State Housing Initiative Partnership Homeownership Program Down Payment Assistance Program
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BRIEF OVERVIEW
The recipients below received a second mortgage loan funded through Hernando County’s State Housing Initiatives Partnership (SHIP) Program for down payment assistance with repairs. The recipient did not utilize all funding provided for repairs to their home, leading to a reduction in the assistance provided as follows:
• Aliias Alexis and Alana Alexis - 12075 Rockford Street, Spring Hill
o Original Second Mortgage amount $26,161.06
o Unused funding for repairs amount $6,161.06
o Modification of Second Mortgage amounts to $20,000.00
Payment of the unused funds has been returned to the County, and a modification of second mortgage is attached for Board approval.
STRATEGIC PLAN INITIATIVES
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FINANCIAL IMPACT
Revenue in the amount of $6,161.06 to:
Revenue:
Fund: State Housing Initiatives Partnership - B133, Account: Miscellaneous Revenue Other - 3699030
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 that the Board approve and authorize the Chairman’s signature on the attached Modification of Mortgage.