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Temecula Real Estate – $700 million to help California Homeowners

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.

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.

The Keep Your Home Program is funded through the use of TARP (Troubled Asset Relief Program) funds.
For more information: Keep Your Home California
For more information on the counseling requirements: Keep Your Home California Counseling

To read the complete article from the June 24th Californian

If you’re a homeowner who is in danger of losing their home or you know someone who is, the most important step is to call your mortgage company now!
“”We also recommend that if homeowners are currently having financial difficulties, they do not wait for these programs to be offered,” said Evan Gerberding, a spokeswoman for the agency. “They should contact lenders and see a HUD (Department of Housing and Urban Development) approved counselor.”
To speak with a local Real Estate professional

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This entry was posted on Thursday, June 24th, 2010 at 10:55 am and is filed under Help for Homeowners. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Temecula Real Estate – $700 million to help California Homeowners”

  1. Lauren Del says:
    June 24, 2010 at 8:19 pm

    Great blog post.Really looking forward to read more.

  2. Mozelle Rettele says:
    June 28, 2010 at 6:36 am

    Had errors viewing the site in Firefox on Linux, but apart from that loved the site!

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