California has a new COVID-19 mortgage relief program. Here's how to get help
Federal COVID-19 relief dollars have already helped more than 140,000 California renters pay the debt they accrued to their landlords during the pandemic.
Now, the state is offering similar relief to qualified homeowners who’ve fallen behind on their mortgages. The new California Mortgage Relief program will pay up to $80,000 worth of mortgage, property tax and insurance bills for qualified applicants.
“The COVID-19 pandemic has left many California homeowners struggling to cover their mortgage costs,” said Rebecca Franklin, president of the California Housing Finance Agency’s Homeowner Relief Corp. “This program is designed to help low- to moderate-income Californians who have lost their jobs or experienced financial hardships due to COVID-19 and fallen behind on their payments get caught up and start fresh.”
The program is funded by a $1-billion grant from the federal government, which allocated $10 billion for mortgage assistance in March
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