In what has to be good news for distressed homeowners in California the Department of the Treasury has approved a $700 million funding to help California homeowners avoid foreclosure.
The program will be administered by the California Housing Finance Agency (CalHFA) as part of its Keep Your Home Program.
The program will be administered by the California Housing Finance Agency (CalHFA) as part of its Keep Your Home Program.
Help for California Homeowners
There are four assistance initiatives all of which should be open by November 1.
- Help for homeowners who are unemployed and in danger of defaulting on their loans
- Help for homeowners who are behind on their payments but could catch up with a little help.
- Help for homeowners in the form of principal reductions who need it to avoid foreclosure.
- Help for homeowners in the form of transition assistance (“cash for keys”) for those who cannot afford to keep their homes. (more…)
