Central Fla. homeowners may be eligible for thousands

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CENTRAL FLORIDA - Attorney General Pam Bondi will be in Orlando Friday to make sure people don't miss out on thousands of dollars.

Central Floridians, who lost their home to foreclosure or are at risk of losing their homes, could qualify for free money.

WFTV found out that millions of dollars are available, but time is running short.

Only about half of Floridians eligible for the cash have filed applications.

Bondi is on a tour of the state to make sure Floridians get their share of millions of dollars for foreclosed homeowners.

There is only two weeks to get applications filled out.

"One, it's for people wrongfully foreclosed upon; two, it's for people still in their house to make the banks work with you," said real estate attorney Justin Clark.

The money comes from the nation's five largest banks and they've agreed to pay up in three categories of homeowners: those who need loan modifications now, those who are current, but owe much more than their houses are worth, and those lost their homes to foreclosure.

"Lenders have turned so many people off that they're saying, 'I don't want to work with them anymore.' But you have to understand, because of this settlement, now is the time to do it," said Clark.

Bondi said the average struggling Florida homeowner is getting a principal reduction of $73,000.

"It's going to save a lot of people's houses," Clark said.

Bondi will speak about the mortgage relief at City Hall.