TALLAHASSEE, Fla. – June 13, 2019 – Florida's federal Elderly Mortgage Assistance Program (ELMORE) is accepting applications from homeowners who need help with their reverse mortgage until June 30, according to a news release.
Homeowners who meet specific qualifications may be eligible for a two-year forgivable loan of up to $50,000. The funds will be distributed to the mortgage servicer, on the homeowner's behalf, in a lump sum to repay property-related expenses paid by the servicer (e.g., property taxes, homeowner's insurance, flood insurance and association fees) plus upcoming property-related expenses for up to 12 months.
Call the ELMORE Application and Information Line at (800) 601-3534 to apply and/or receive more information or go to the ELMORE program website at FloridaELMORE.org. There is no cost to apply.
"I highly encourage seniors in Florida who are struggling with their reverse mortgage to apply before the June 30 deadline," said Executive Director Trey Price, Florida Housing Finance Corporation, in a release.
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