Image by Pexels from Pixabay
$1 billion in federal funds brings mortgage relief for to up to 40,000 households across California
January 26, 2022 - CALIFORNIA — On Tuesday, U.S. Senator Alex Padilla (D-Calif.) encouraged eligible Californians to apply for the state’s new Mortgage Relief Program during a virtual conversation with the California Housing Finance Agency (CalHFA) and California Business, Consumer Services and Housing Agency (BCSH).
Following recent approval by the U.S Treasury, the state launched the California Mortgage Relief Program to provide one-time payments to qualified homeowners who have fallen behind on their housing payments or to reverse missed payments of up to $80,000 as part of the state’s Housing is Key initiative. The $1 billion in federal funding for this program comes from the American Rescue Plan Act of 2021, which Senator Padilla voted to pass. Senator Padilla has been focused on ensuring families have the resources to recover from economic impacts of the pandemic.
“When I was sworn into the Senate one year ago this month, my top priority was helping Californians through the challenges of the COVID-19 pandemic,” said Senator Alex Padilla. “Thanks to aid distributed from the American Rescue Plan, California is receiving over $1 billion dollars to fund the California Mortgage Relief Program which will help working families who have fallen behind on their mortgage payments because of the financial hardship of the pandemic. I’m working in Congress to make sure we continue working towards a full and inclusive pandemic recovery.”
“The California Mortgage Relief Program rounds out a comprehensive suite of housing assistance to keep Californians in their homes,” said Lourdes Castro Ramírez, Secretary of the California Business, Consumer Services and Housing Agency. “This federal funding will provide much-needed relief to thousands of struggling homeowners who fell behind on payments because of the pandemic, with 40 percent of the funding going to underserved communities hardest hit by COVID-19.”
“For more than 40 years, CalHFA has successfully provided services to low and moderate-income homebuyers. We’re proud to continue that work by overseeing the deployment of federal mortgage relief funds to California homeowners hit hardest financially by the COVID-19 pandemic,” said Tiena Johnson Hall, the CalHFA Executive Director.
Homeowners can check their eligibility and apply through an online portal at www.CAMortgageRelief.org and can get more information by calling 888-840-2594.
Source: Senator Alex Padilla
