TITLE
Atisfaction of title
Satisfactions of Mortgage for Juan G. Fernandez Alcantara and Mayerlin E. Fernandez; and Jordan A. Walker Through Homeownership Down Payment Assistance Program
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BRIEF OVERVIEW
Attached are the following Satisfactions for loans granted through the State Housing Initiatives Partnership (SHIP) Homeownership Down Payment Assistance Program:
• Juan G. Fernandez Alcantara and Mayerlin E. Fernandez in the amount of $10,000.00
• Jordan A. Walker in the amount of $10,000.00
The recipients received a second mortgage loan from the County funded through the State Housing Initiatives Partnership (SHIP) Program. The loans are given to qualified homebuyers at zero percent interest.
The County has received checks to pay off each loan in full, payable to Hernando County for a total amount of $20,000.00. The checks have been sent to the Finance Department for deposit. The checks represent the full payoff of the loans.
FINANCIAL IMPACT
Revenue in the amount of $20,000.00 to Fund: 1271 - State Housing Initiatives Partnership, Department: 35051 - SHIP Grant, Account: 3699030 - Miscellaneous Rev - Down Payment Reimbursement.
Expenses in the amount of $20.00 to satisfy the cost of recording to Fund: 1271 - ST HOUSING INIT PRTNRSHP, Department: 35051 - SHIP Grant, Account: 5304922 - Fees/Costs-Other.
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
recommendation
RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached satisfactions of mortgage.