The City’s Foreclosure Prevention Program provides assistance up to $7,500 to income eligible homeowners who are facing foreclosure. The goal of this program is to avoid foreclosure by paying delinquent mortgage payments (PITI) to assist with bringing the mortgage current, including late fees, attorney’s fees, homeowners’ association payments, special assessments, taxes, insurance and other foreclosure associated costs. This program is designed to maintain affordable homeownership within the lower income population of the City of Miami.

2. Have an income less than or equal to 80% of the area median income, adjusted for family size;

3. The property must be a single family residence, owner-occupied and have a homestead exemption;

4. The property must be located in the City of Miami;

5. The homeowner must demonstrate their ability to make future mortgage payments after assistance is received and provide a revised monthly budget;

6. The property must not exceed the maximum tax assessed market value of $300,000 for the home to qualify;

7. The homeowner must prove that delinquency is due to a significant loss of household income (loss of employment, sudden medical illness or expenses, divorce or separation, death in the family, predatory lending practices and / or unforeseen / unexpected / unanticipated home repairs);

8. The homeowner can apply only once for the Foreclosure Prevention Assistance;

9. The homeowner must undergo foreclosure prevention counseling from a HUD-certified Counseling Agency;

10. The homeowner must not own any other property at the time of assistance.

2. Starting March 16, 2009 the City of Miami will be accepting applications for the Foreclosure Prevention Program.

3. Fill out the Foreclosure Prevention Program application and submit it to the City of Miami at the address below in order to determine preliminary eligibility. If eligible the City of Miami will refer you to a “HUD Certified Counseling Agency” that provides Foreclosure Prevention / Loss Mitigation counseling.

4. Please note that when the Agency contacts you for an appointment the Applicant must gather all the documents listed in the “Foreclosure Prevention Checklist” (attached) along with the a copy of completed City of Miami application.

5. The terms of the City’s loan are attached to this document. The City of Miami is committed in assisting as many of our residents as possible to prevent foreclosure and homelessness. The assistance will be provided on a first come, first-ready, first served basis. The City of Miami reserves the right to cancel any and all applications based on lack of funding availability.