HB 1303: Mortgage Principal Reduction Program
GENERAL BILL by Torres
Mortgage Principal Reduction Program; Creates "Mortgage Principal Reduction Act"; requires that Florida Housing Finance Corporation apply to United States Department of Treasury to request funds from federal Hardest-Hit Fund program to establish new state program to reduce principal on mortgages for persons whose homestead property in this state is in foreclosure; requires corporation to use allocated funds to purchase delinquent mortgages from lenders at discount to reduce mortgage principal amount due on mortgage; creates application process & corporate procedures; specifies that only members of The Florida Bar & HUD-certified counselors working for nonprofit entity may assist program applicants in applying for or program participants in servicing loan created by program; requires that corporation submit monthly reports to Office of Governor, President of Senate, & Speaker of House of Representatives.
Last Action: 5/3/2013 House - Died in Economic Development and Tourism Subcommittee
Bill Text: PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 3/4/2013 | House |
• Filed |
| 3/5/2013 | House |
• Introduced -HJ 124 |
| 3/8/2013 | House |
• Referred to Economic Development and Tourism Subcommittee; Insurance and Banking Subcommittee; Transportation and Economic Development Appropriations Subcommittee; Economic Affairs Committee -HJ 213 |
| 5/3/2013 | House |
• Died in Economic Development and Tourism Subcommittee |
