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Satisfactions of Second Mortgage for Suzzanne Asaff and Jeffery D. D’Angelo Through Neighborhood Stabilization Program Purchase Assistance Program
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BRIEF OVERVIEW
Attached are the satisfactions for the loans granted through the Neighborhood Stabilization Purchase Assistance Program to:
• Suzzanne Asaff in the amount of $21,800.00 at 5178 Roble Avenue, Spring Hill, Florida
o Ms. Asaff received a second mortgage from the Neighborhood Stabilization Program; such loans are provided to qualified home buyers at zero percent interest. The loan is forgivable in its entirety at the end of the affordability period. According to the Housing Assistance Plan in effect at the time of the loan, the affordability period was 10 years. The affordability period has been met.
• Jeffery D. D’Angelo in the amount of $49,137.00 at 1367 Whitewood Avenue, Spring Hill, Florida
o Mr. D’Angelo received a second mortgage from the Neighborhood Stabilization Program; such loans are provided to qualified homebuyers at zero percent interest. The loan is forgivable in its entirety at the end of the affordability period. According to the Housing Assistance Plan in effect at the time of the loan, the affordability period was 15 years. The affordability period has been met.
Funds to pay for the recording of the satisfactions of mortgage in the amount of $20.00 were received and forwarded to the Finance Department.
FINANCIAL IMPACT
Expense in the amount of $20.00 to satisfy the cost of recording will be charged to:
Expense:
Fund: B001 - General Fund, Group: 30176 - HHS/DCA CDBG NSP 3 PGM, Account: 534900 - Operating Other Charges
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 the Board approve and authorize the Chairman’s signature on the attached satisfactions of mortgages.