In 2010, the U.S. Treasury department created the Housing Finance Agency "Hardest-Hit Fund" to help people avoid foreclosure after housing prices plummeted. Part of the money from the Hardest-Hit Fund is allocated to the Florida Elderly Mortgage Assistance Program (ELMORE). This program helps senior homeowners who have a reverse mortgage and are behind on their property taxes, homeowners’ insurance, flood insurance, and homeowners’ and/or condo association dues (property charges). The fund pays these property charges to the homeowners' reverse mortgage servicer.
The ELMORE program can provide up to $25,000 to help seniors avoid foreclosure and stay in their homes, if they are are in arrears on their reverse mortgage. You can find out more about the ELMORE at this website:
or call 1-(800) 601-3534
The Area Agencies on Aging will be helping seniors to gather the documents they need to apply for the program. Note: there is no fee to apply for the ELMORE program. To contact the Area Agency on Aging for Pasco-Pinellas, please call 1-800-963-5337 or 727-217-8111.