Annual Meeting

Blueberry Hill Condominium Association, Inc.

Notice of Annual Meeting


NOTICE IS HEREBY GIVEN that the meeting to fill vacancies on the Board of Directors of Blueberry Hill Condominium, and to conduct such other business as may be lawfully conducted, will be held at the following date, time and place:

Date: Thursday, February 17, 2011

Time: 7:00 p.m.

Place:

Blueberry Hill Clubhouse
5701 Blueberry Court
Lauderhill, FL 33313


Agenda:

* Approval of minutes of previous meeting of members
* Election of Officers
* Good and Welfare
* Adjournment

Struggling homeowner? You could be eligible for up to $35,000 worth of mortgage payments

South Florida Sun-Sentinel.com
By Kimberly Miller, Palm Beach Post

9:17 AM EST, January 29, 2011


Thousands of struggling homeowners in Florida will receive up to a year-and-a-half's worth of mortgage payments from the state's Hardest Hit program, which opens for applications next month.

It's the first time the more than $1 billion in federal funding will be available statewide. Lee County homeowners were able to request funding beginning in the fall as part of a test of the program.

Aimed at unemployed homeowners or those who have jobs but don't earn enough to pay their mortgage, the money, which was announced last year, can be used to make loan payments for up to 18 months and to bring delinquent loans current.

The highest amount a person can receive is $35,000.

"We believe between the two strategies we can help about 20,000 people," said Cecka Rose Green, communications director for the Florida Housing Finance Corporation, which is overseeing the program.

Green acknowledged the help is modest considering the number of troubled loans in the state. About 19 percent of Florida borrowers were either 90 days past due or in foreclosure during the third quarter of 2010, according to the Mortgage Bankers Association.

Still, Green said the money will give people "breathing room" to focus on getting a job and back on their feet. The money is only asked to be paid back if the home is sold within five years or the homeowner goes into foreclosure. Even then, the state's reimbursement is secondary to the payoff of the bank and other liens on the property.

"It's meant to be real financial assistance, not simply another loan," Green said.

Unemployed and underemployed homeowners were targeted because they can have more trouble getting a loan modification through the federal Making Home Affordable program. In that program, a borrower must show they have enough income to make a lower monthly payment, which may not be possible if the owner is unemployed.

Florida's share of the federal money comes from a larger pot of more than $7.6 billion awarded 18 states and the District of Columbia -- areas hit hardest by the economic slide and real estate bust. States given funding had unemployment rates at or above the national average and home price declines greater than 20 percent.

Florida received the second highest award behind California's $1.9 billion.

The program has faced some hurdles, including getting banks to agree to take the federal money, which is sent directly to lenders or loan servicers, and not to borrowers.

"That was the biggest issue we got into, getting the banks to accept the payments," said Michael Puchalla, assistant director for the Housing Development Corporation of Southwest Florida, where Lee County is located.

Since Florida began the pilot program in October, it has managed to get most major lenders on board, including Bank of America, Wells Fargo, Chase, Wachovia and Citimortgage.

Earlier this month, federal mortgage backers Fannie Mae and Freddie Mac also gave servicers directions on how the hardest hit money should be handled. Fannie Mae issued instructions that foreclosures should be delayed on any homeowner who has been approved to receive the money.

As of last week, 963 Lee County homeowners had applied for assistance.

Of those, 64 have been approved, 108 are in the pipeline to receive assistance, and 371 are still under review.

About 480 homeowners were rejected for various reasons including they had more than one property, were more than 181 days late on payments, or owed more than $400,000 on their loan.

"This is for someone with a temporary hardship," said Puchalla. "It fills in the gap and is just one more tool to keep some houses out of foreclosure."