Florida ELMORE Program
The Elderly Mortgage Assistance Program (ELMORE) uses federal Hardest Hit Funds to assist senior homeowners in Florida with reverse mortgages who may be facing foreclosure due to nonpayment of property-related expenses, such as property taxes, homeowner’s insurance and homeowner’s and/or condo association dues.
ELMORE has specific income, hardship and residency requirements. The overall requirements are that you:
- Have a reverse mortgage secured by a property in Florida;
- Are a legal U.S. citizen or lawful permanent resident;
- Reside in your house as your primary residence;
- Have income lower than 140% of the average median income in your area;
- Have fallen behind on property-related expenses due to a hardship such as medical expenses, reduction in income, home repairs, divorce, disability, unemployment or under employment, or other challenges; and
- Can afford property-related payments once you’re caught up through this program.
If approved, you may get up to $25,000 to pay for property-related expenses through a forgivable two-year loan. There is no interest on the loan and there are no payments to make provided you do not sell the property within two years of the date of this loan and you have satisfied all loan terms. If you’ve already received assistance through another Florida Hardest-Hit Fund Program, your total assistance cannot exceed $50,000.
For more information on ELMORE, please call toll-free (855) 414-3328 or visit FloridaELMORE.org. You can also contact your reverse mortgage servicer who can further assist. Your servicer’s contact information should be on your loan paperwork or on the periodic statements or notices you receive regarding your reverse mortgage loan. For a list of Fannie Mae reverse mortgage servicers, click the Reverse Mortgage Servicers tab section above.
Who should I call if I think I’m being scammed?
If you are contacted by anyone who is not your mortgage company offering to work on your behalf for a fee or claiming you qualify for a loan modification or some other solution, you can report the suspected fraud by calling:
U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General Hotline
Federal Housing Finance Agency Office of the Inspector General Hotline