42,000 Californias Jobless get help with mortgages

by The Real Estate Faction on August 16, 2010

The U.S. Treasury Dept. announced yesterday it is providing additional funding to a California program to help homeowners struggling to make their mortgage payments due to unemployment.  The program, administered through the California Housing Finance Agency (CalHFA) will assist struggling borrowers make up to six months of mortgage payments.  Lenders will be asked to match the government contribution.

  • The program aims to help 19,000 unemployed borrowers in California between its November launch and next July.  An additional 23,000 borrowers will receive help over the next two years, according to CalHFA estimates.

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