County of Miami-Dade - Community Assistance Division
The Program:
Provides funds as a loan to prevent mortgage foreclosure of a primary residence for income eligible homeowners living in Volusia County (presently excludes homes within the city limits of Daytona Beach, Deltona, and Port Orange). First ready, first served.
Form of Assistance:
Up to $10,000 of foreclosure prevention assistance Assistance is provided as a loan at 0% interest, with payment deferred for 15 years, forgiven at the end of 15 years if conditions are; a mortgage will be recorded.
Who is eligible:
Very-low, low- and moderate-income households (See reverse side - as defined by HUD)
Eligible reason for mortgage delinquency/foreclosure:
- Involuntary loss of employment
- Sickness of injury
- Death in the family
- Sudden medical expenses
- Unforeseen home repair
Median Income Levels for 2008
Household Size |
Very – Low Income |
Low Income |
Moderate Income |
|
50% of Median Income |
80% of Median Income |
120% of Median Income |
1 |
$18,300 |
$29,300 |
$43,920 |
2 |
20,100 |
33,500 |
50,160 |
3 |
23,550 |
37,650 |
56,250 |
4 |
26,150 |
41,850 |
62,760 |
5 |
28,250 |
45,200 |
67,800 |
6 |
30,350 |
48,550 |
72,840 |
7 |
32,450 |
51,900 |
77,880 |
8 |
34,500 |
55,250 |
82,800 |
|
