The common scenario of a homeowner struggling to make their payments and the various ideas enacted to try and rectify or slightly ameliorate that situation are still prevalent to this day, even in high end markets like Miami Beach homes.  In the case of the latter, the state of Florida is getting set to roll out a new initiative.

Florida's Hardest Hit Program focuses on giving unemployed homeowners or those whose don't make enough to cover payments up to $35,000, resulting in eighteen months of loan payments.  This would also assist in lowering the amount of delinquencies and bringing those loans current.  As for where this money is coming from, the funds are a result of the $1 billion in federal funding given to the state.  It should be noted that the money is not being sent to borrowers; loan services and lenders will function as the “middleman”.  If you own Miami Beach homes or a Florida homeowner, you can apply for the program next month.

The people behind the Hardest Hit program stress that it's not meant to be a loan but a form of financial assistance designed to give people a bit of room to breathe while they get back on their feet and hopefully find new employment.  In fact, it's estimated that the program will help about 20,000 people which may seem like a questionably small number.