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Satisfactions of Various Mortgages Homeownership Down Payment Assistance Program
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BRIEF OVERVIEW
Attached are the following Satisfactions of Mortgage for Hernando County’s Homeownership Down Payment Assistance Program:
• Kelly A. Cronin in the amount of $10,600.00.
• Maria I. Martin in the amount of $17,670.00.
• Brandon W. Thomas and Emily A. Moller in the amount of $23,800.00.
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 $52,070.00. 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 $52,070.00 to Fund #: 1271 (ST Housing Init Prtnrshp), Department #: 35051 (Ship Grant - Housing Auth), Account #: 3699030 (Misc Rev-Down PYMT Reimb).
LEGAL NOTE
The Board has the authority to act on this matter pursuant to the State Housing Initiative Partnership Act, Section 420.907, et seq., Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached satisfactions of mortgage.