New California Program to Help Distressed Homeowners In a Big Way!
The California Housing Finance Agency approved 4 new mortgage-aid programs to help the guesstimated 100,000 plus households to prevent foreclosure all organized and operated within the overall state housing program. The program " Keep Your Home California" is now available to those distressed homeowners that qualify. For specific details, visit the California Housing Finance Agency online and click on the Keep Your Home California Foreclosure Prevention link. When you get to that page click on Eligibity button at the top and fill out the answers and submit and you will be directed further.
In a nutshell, here is the general information you need to better understand this program and it's objectives and first understand that there is a 2 Billion Dollar fund available to Californians from the US Treasury's "Hardest Hit Fund" that will be used to implement this program.
This money is available to all owner occupied primary property holders that are in distress in the state of California. If this program is a success, communities all over the state will be benefited and this will further help stabilize the overall real estate market in California.
The 4 four Key components of the "Keep Your Home California" are as follows:
1. It can provide up to $3000 per month for unemployed homeowners in a distress situation.
2. For those that are behind in payments and qualify for the program, the program can provide up to $15,000 in funds to bring your mortgage current.
3. The program can provide capital to cut the overall loan balance where the current market value is less than the current mortgage amount.
4. The program can provide relocating assistance to homeowners that have already completed Short Sale or Deed-in-lieu-of Foreclosure.
If you are a distressed property owner in the State of California, it would most certainly be in your best interests to check this out as soon as possible. 2 Billion may sound like a lot but these funds will go fast so make that call today or go online and follow the links that I provided for you.
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