Lisa Wiseman
Posted Fri Jun 25 12:00AM$700M in federal funds have been set aside to assist foreclosure prevention in California.
Among the highlights,
- Assistance with past due-payments
- Subsidy for unemployed homeowners to assist with mortgage payments
Assistance for short sale sellers and died-in-lieu of foreclosure sellers
Mortgage principal reduction for borrowers seriously underwater
There are no details at this point on the last issue, but they will target
only homeowner's first mortgage (i.e., purchase money loans) and
only owner-occupied homes.
All aspects of the program are expected to be available no later than
Nov.1, possibly too late for some homeowners.
Program details can be found at www.keepyourhomecalifornia.com
Welcome to my Silicon Valley Blog. All things Silicon Valley here, embracing all communities and many topics....