Are you underwater in Florida?

[Baitball Blogger]

Floridians scramble for mortgage principal reduction funds

Between 9 a.m. and 2 p.m. Wednesday, more than 7,000 Floridians had applied for a government program that could reduce as much as $50,000 of the principal homeowners owe on their mortgage.

Once the state receives 25,000 applications, it will shut down the application process. The Florida Housing Finance Corporation plans to distribute $350 million of federal funds to help qualified Florida homeowners who have underwater mortgages.

Who is qualified? Homeowners must be current on their mortgages. Recipients can earn more than the area's median income and can be fully employed. And the unpaid loan amount can be as high as $350,000.

With about nine applications being submitted by Florida homeowners every minute today, the website http://www.principalreductionflhhf.org crashed temporarily.

http://www.orlandosentinel.com/business/os-principal-reduction-florida-20130925,0,473858.story

[SheilaT]

1. I thought you meant under water.

Thought maybe there had been some major storm I'd missed.

At least that hasn't happened, but I know the mortgage thing is a big deal.

[lpbk2713]

2. Well now that you mention it ...

Link: http://www.miamiherald.com/2013/09/25/3649757/tampa-bay-area-under-flood-warning.html

There has been steady rain here for the past several days.