California to help homeowners catch up on mortgage payments

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Sacramento, CA (AP) — California helps up to 40,000 homeowners keep up with mortgage payments.

Governor Gavin Newsom announced on Monday that the federal government has approved his mortgage bailout plan.

California will use about $ 1 billion in federal funding to help those who are late in paying their mortgages during a pandemic.

The program pays all overdue homes for up to $ 80,000 per household.

Only those who own and occupy one property and earn less than 100% of the median income of the area are eligible.

Owners also need to prove that they have faced pandemic-related financial difficulties after January 21, 2020.

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California to help homeowners catch up on mortgage payments Source link California to help homeowners catch up on mortgage payments

The post California to help homeowners catch up on mortgage payments appeared first on California News Times.

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