Housing
Finance Authority of Pinellas County
First-Time Homebuyer Programs for 2006 A & B provided 241 mortgage
assistance loans in Pinellas County totaling $32,075,408 in
bond funds. The Housing Finance Authority also provided financial assistance
in the amount of $20,400,000 to complete
the construction of ALTA Largo, creating 288 new multifamily rental units,
and provided $1,343,000 in assistance to
build ten (10) new single-family homes through Operation KickStart.
Projects
Provided over $2.4 Million in CDBG funds to complete activities such
as: Homeless Emergency Project’s Kitchen Renovation, Ridgecrest’s
119th Street Enhancements, Lealman Park Improvements, Lealman Waterlines & Hydrants,
Highpoint YMCA Lobby Renovations, Pinellas Park Streetscape, street
lighting and sidewalk improvements, etc.
Housing Services
Homebuyers Club, Budgeting Classes & Mortgage Education 1,447 customers
Partners in Self Sufficiency 257 customers
Foreclosure Prevention 202 customers
Transitional Housing (Utility & Security Payments) 47 customers
Portfolio Information
Program Income:
126 loans paid off in the amount of $2,233,311
Funds received from SunTrust for loan servicing for the year:
HOME $325,352
SHIP $248,204
CDBG $147,878
$721,434
Program Income funds received from Tampa Bay CDC for
loans serviced this fiscal year were $11,466. The principal loan balances
serviced by the agency remain at $123,426.
Program Income funds received from Contemporary Housing
Alternatives of Florida (CHAF) for loans serviced in house (Wind Tree
Phase (A) & (B) and Oak Trace) were $270,504.
The principal loan balances remain at $5,068,258.
As of September 30, 2007, SunTrust Mortgage was servicing
374 amortizing loans with an estimated value of $8.1
Million. There were 14 loans more than 30 days late. The delinquency
rate was 3.7 percent.
We have 412 reducing or permanent deferred loans with
an estimated value of $9.4 Million, 269
temporary deferred loans with an estimated value of $33
Million for a total of 681 loans with an estimated value of $42.4
Million.
Our total active deferred and amortized loan portfolio
is estimated at $55.7 Million.
This fiscal year we had one down
payment assistance loan go through foreclosure for a loss of $1,288.
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