San Diego Homeowners Receive Aid from California Mortgage Relief Program
The California Mortgage Relief Program, a vital lifeline for many residents across San Diego and the broader state of California, is playing a crucial role in helping people maintain their homeownership amidst financial challenges. This program, bolstered by funding from the 2021 American Rescue Plans Act, is dedicated to providing substantial financial support to homeowners in need.
Under this program, eligible individuals can receive up to $80,000 in aid. This assistance is designed to cover a range of housing-related financial burdens, including mortgage relief, missed property tax payments, partial claims, loan deferrals incurred during or after January 2020, and reverse mortgage arrearages. The aim is to alleviate the financial strain many homeowners have faced due to the pandemic and its economic repercussions.
To qualify for this program, applicants must meet specific criteria. These include experiencing pandemic-related financial hardship after January 21, 2020, owning and residing in a single-family home, condo, or permanently affixed manufactured home, or a property with up to four units. Additionally, the household income must be at or below 150% of the county’s Area Median Income, which is approximately $144,700 for a single-person household in San Diego.
In San Diego, the Logan Heights Community Development Corporation is actively involved in assisting residents with the application process and providing necessary guidance. “Our organization was selected to help those in the San Diego Region who need help covering their mortgage or if they’re behind on property taxes and need some kind of assistance,” said William Burties, the Economic Development Director of the Logan Heights Community Development Corporation.
Burties highlighted the significant impact of their efforts, noting that the organization has already assisted over 50 families. This support has been instrumental in helping these families navigate the financial challenges posed by the pandemic, ensuring they can stay in their homes and maintain stability during these uncertain times.
The California Mortgage Relief Program is more than just a financial aid package; it represents a beacon of hope for those struggling to keep up with housing costs. By providing this critical support, the program is not only helping individual families but also contributing to the overall economic recovery and stability of communities across California.
In summary, the California Mortgage Relief Program, with its substantial financial assistance and broad eligibility criteria, is a key resource for homeowners in San Diego and across California. Organizations like the Logan Heights Community Development Corporation play a pivotal role in administering this aid, ensuring that those in need can access the support necessary to secure their housing and navigate the ongoing economic challenges of the pandemic.
