California Mortgage Relief Program Application 2022

by Triple Michael

California Mortgage Relief Program Application 2022

California mortgage relief program Online application 2022, California mortgage relief program status

Good News: California Has launched a mortgage relief program to help homeowners: Here we have brought to you all you need to know about the California mortgage relief program including Who qualifies. how to apply Online and More

California has created a $1-billion mortgage relief fund to help low- to moderate-income homeowners who have fallen behind payments during the pandemic.

The Program aims to help up to 40,000 residents who fell behind on housing payments during the COVID-19 pandemic, according to a news release from the state.

Eligible households can qualify for a maximum of $80,000 for their past due housing-related bills, with payments being sent directly to their mortgage provider or bank, the release stated. Homeowners won’t need to repay the state.

What is the California Mortgage Relief Fund?

The state program offers one-time grants to eligible homeowners who have defaulted on their housing payments during the COVID-19 pandemic. The fund uses federal funds and is not required to be repaid.

Eligibility For The California Mortgage Relief Program Application 2022

The program is designed to aid only homeowners who are already well behind on their mortgages on account of the pandemic, and who aren’t in the process of working out a plan with their lenders to defer some debt to avoid foreclosure.

The program is open to California homeowners who:

  • own and occupy a property in California, and its their primary residence and only home
  • Their residence is single-family home, condominium or permanently affixed manufactured home
  • The entire household combined earns at or below 100% of their county’s area median income (you can find the AMI for your county here)
  • They faced a financial hardship between Jan. 21, 2020 and Dec. 27, 2021, and they can demonstrate that it was because of the pandemic
  • At least two payments are past due by Dec. 27, 2021
  • The homeowner can’t have cash or assets equal to or greater than the money they need plus $20,000 (cash and assets do not include money in a retirement account, according to the website)

California Mortgage Relief Program Application 2022

California Mortgage Relief Program Application 2022

California Mortgage Relief Program Application 2022

Where can I apply?

Apply Here: https://www.camortgagerelief.org/

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