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Satisfaction of Mortgage for Kaylee A. Rimes Through Homeownership Down Payment Assistance Program
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BRIEF OVERVIEW
Attached is the following Satisfaction of Mortgage for Hernando County’s Homeownership Down Payment Assistance Program
Kaylee A. Rimes in the amount of $14,829.08.
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 a check to pay off the mortgage in full, payable to Hernando County for a total amount of $14,829.08. The check has been sent to the Finance Department for deposit. The check represents the full payoff under the Homeownership Down Payment Assistance Program.
FINANCIAL IMPACT
Revenue in the amount of $14,829.08 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 for Kaylee A. Rimes.