2022 CALIFORNIA MORTGAGE RELIEF PROGRAM?

We had an eviction moratorium and a forbearance program for homeowners in 2021. 2022 the state is offering borrowers mortgage relief!

According to the state program’s website you qualify for aid if you and the California property in question meet the following conditions:

1. You own and occupy only one property, and it is your primary residence.
2. Your residence is a single-family house, condominium, or non-mobile manufactured home in California.
3. You experienced a COVID-related financial hardship after Jan. 21, 2020.
4. You have at least two past-due mortgage payments as of Dec. 27, 2021.
5. Your household earns no more than the area median income in your county, which you can look upon the program’s website.
6. You must also have a limited amount of cash and other assets that can easily be converted to cash.
7. The first mortgage you took out on your home was a “conforming loan,” which meant it was small enough for Fannie Mae or Freddie Mac to purchase it from your lender. The limit rises annually; last year in Los Angeles County it was $822,375.
8. At least one of these three things is true for you: You receive all or a significant portion of your income from welfare, food stamps, and other forms of public assistance; you are “severely housing burdened” — your mortgage and related costs consume more than 40% of your income; or your lender has denied an “alternative workout option” that would have helped you avoid foreclosure.

https://camortgagerelief.org/wp-conte...

https://knowledge.luskin.ucla.edu/ca-...

[email protected] 

https://www.consumerfinance.gov/ask-c...

federal Department of Housing and Urban Development, call (800) 569-4287

https://apps.hud.gov/offices/hsg/sfh/...