Millions of dollars in financial assistance are available to California homeowners who have been unable to make their mortgage payments due to the COVID-19 pandemic. Today it was announced that more people may be eligible to receive that money.
The state of California has helped nearly 10,000 homeowners pay off their mortgage debt, but there are still plenty of funds available.
“The government gave one billion dollars, and in one year 30% has been distributed, but 70% is left,” said Lorena Dominguez, spokeswoman for the California Mortgage Relief Program.
The California Mortgage Rescue Program has recently been expanded and the expansions include:
- Owners who have already received funds can ask for more. Total up to 80 thousand dollars.
- Assistance will now be given for second mortgages or loan deferments taken out after 01/2020.
Those who make two or more mortgage payments and one property tax payment by March 2023 are also eligible.
“Owners of up to four units will qualify, but it is important that they live in one of those units,” Dominguez said.
If you’ve fallen behind on your mortgage or property taxes because of the pandemic, California’s Mortgage Rescue Program may give you the money you need.
To be accepted, the individual’s income must be less than the median income for the California county in which they live and must not have high funds in the bank.
“The amount of cash they are asking for cannot be equal to or greater than what they are asking for,” Dominguez said.
Documents that may be requested are mortgage and bank statements, tax returns or proof of wages or unemployment benefits, among others.
“It takes weeks, and there’s no deadline, but do it quickly. People who request benefits don’t have to pay any of this money back,” Dominguez said.
For more information, you can visit https://camortgagerelief.org or call 1-888-840-2594
