Hundreds of millions of dollars in financial assistance is available to California homeowners who have been unable to pay their mortgages due to the COVID-19 pandemic. On Tuesday it was announced that more people could qualify to receive that money.
The state of California has already helped some 10,000 homeowners pay off their mortgage debt, but there are still plenty of funds available.
“The government gave a billion dollars, and in one year 30% has been delivered, but 70% remains,” said Lorena Domínguez, spokeswoman for the California Mortgage Relief Program.
The California Mortgage Rescue Program has recently been expanded and the expansion includes:
- Owners who have already received funds before can ask for more. Up to $80,000 total.
- Assistance for second mortgages or loan deferments made after 01/2020.
People who owe two or more mortgage payments and one property tax payment by March 2023 also qualify.
“Owners of up to four units will qualify, but it is important that they live in one of those units,” Domínguez added.
If the pandemic has caused you to fall behind on your mortgage or property taxes, California’s mortgage rescue program could give you the money you need to catch up.
To be accepted, the person must have income below the median income for the California county in which they reside and must not have high funds in the bank.
“They cannot have cash of equal or greater value than what they are asking for,” Dominguez said.
The documents that could be requested are mortgage and bank statements, tax return or proof of salary or unemployment benefit among others.
“It takes weeks, and there is no deadline, but do it fast. Those who request the benefit do not have to return any of these funds,” said Domínguez.
For more information Click here or call 1-888-840-2594.
