Satisfaction of Mortgage Under the County's Down Payment Assistance Program - Young ($12,382.80)
Attached is a Satisfaction of Mortgage for Hernando County's Homeownership Down Payment Assistance Program for Jerry Young. He received a down Payment Assistance loan from the County through the Down Payment Assistance Program on October 25th, 2002 for an original amount of $12,382.80. The Down Payment Assistance program is funded through the State Housing Initiatives Partnership Program (SHIP). The loans are given to qualified first time home buyers at zero percent interest and up to 20% of the sales price to assist them in their down payment and closing cost requirements.
The Housing Authority received a check in the amount of $12,382.80 payable to Hernando County from Chelsea Title. The check has been sent to the Finance Department for deposit. The check represents the total payoff under the Down Payment Assistance Program's Second Mortgage Agreement.
The Board has the authority to accept the early payment of the down payment under the SHIP Program pursuant to the Sate Housing Initiative Partnership Act. Section 420.907, et seq.,F.S.
|MOVER:||James E. Adkins, Commissioner|
|SECONDER:||John C. Druzbick, Second Vice Chairman|
|AYES:||David D. Russell Jr., Rose Rocco, John C. Druzbick, James E. Adkins, Jeff Stabins|