Florida homeowners received more than $9.2 billion in home loan help through the historic National Mortgage Settlement negotiated last year, exceeding expectations by $800 million, according to a final progress report released Thursday.
The payouts, which came in the form of reduced loan debt, lower interest rates and allowing for short sales, were shared by 119,411 borrowers statewide, resulting in an average savings of more than $77,000 per homeowner.
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How the money helped in Florida:
Second mortgage debt elimination, $3.4 billion
Short sales, $3.4 billion
Primary mortgage debt reduction, $1.4 billion
Refinances, $344 million
Deficiency waivers, $158 million
Money to help with moving, $82.4 million
Second mortgage debt reduction, $47 million
Donated bank-owned homes, $12.3 million
*not all categories included