California Mortgage Relief Program Releases Community Toolkit

The California Mortgage Relief Program, which began in late 2021, has released a new toolkit to encourage community organizations to help raise awareness about this new financial resource for homeowners who have fallen behind on their mortgage payments due to financial hardships caused by the pandemic. The California Mortgage Relief Program is run by the CalHFA Homeowner Relief Corporation (CalHRC), a special-purpose affiliate of the California Housing Finance Agency (CalHFA).

“Community groups have their fingers on the pulse of our neighborhoods and deeply understand the struggle many homeowners have faced over the past two years,” said Rebecca Franklin, President of CalHFA Homeowner Relief Corporation. “Because these groups work closely with many of the homeowners who would benefit from the California Mortgage Relief Program, we want to provide essential resources they can share within their communities.”

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The multi-cultural toolkit includes program brochures and social media posts with crucial information like where to apply, who is qualified, and where candidates may get help. It is available to community groups at CaMortgageRelief.org/partner-resources.

About California Mortgage Relief Program

The California Mortgage Relief Program is part of the state’s Housing is Key initiative. This program will pay up to $80,000.00 worth of mortgage, property tax, and insurance bills for qualified applicants. Funds from the program are given directly to your mortgage servicer. The 2021 American Rescue Plan Act’s Homeowners Assistance funds the California Mortgage Relief Program (CMRP) and is open to all eligible Californians. The program is absolutely free and recipients don’t have to repay the funds. Eligible applicants must be at or below 100% of their county’s Area Median Income. They also must own a single-family home, condo, or permanently affixed manufactured home. Applicants also must have faced a pandemic-related financial hardship after January 21, 2020. However, they may only own and occupy one property.  Homeowners must be at least two payments past due by December 27, 2021. Applicants also must be either a recipient of public assistance, must pay more than 40% of their income in housing costs, or must have been denied an alternate mortgage workout plan by their servicer. They can’t have cash or assets equal to or greater than the money you need plus $20,000.00. This amount does not include money in a retirement account. The money is available on a first-come, first-served basis.

“Helping our community members with the mortgage relief plan benefits the entire community economically,” said Pharaoh Mitchell, CEO of the Community Action League. “When homeowners are able to save their homes, that keeps them in our community and they’re able to redirect the money they save to other areas of their budget, such as their savings or to buy consumer goods. Helping homeowners save their homes is not only good for the homeowner, it’s good for our community economically in general.”

For more information on getting a grant and also learning about refinance programs, take a look at this.