FRP Financing Terms:
Zero-interest, Deferred-payment Loan. Homebuyers are eligible to receive a soft second mortgage of up to $15,000. No interest accrues on the “soft-second” loan, and no payments are due until the home is sold, the title is transferred, or the home is no longer used as the homebuyer’s principal residence.
Foreclosure Redevelopment Program Financing Assistance Summary