A certain population may qualify for stimulus checks worth as much as $ 80,000 until the year 2025.
Californians who own their homes may be eligible for mortgage lending on behalf of the U.S. Treasury Department.
The program, called the California Mortgage Relief Program, will help 20,000 to 40,000 struggling homeowners.
The money comes out of the U.S. rescue plan provision called the Homeowner Assistance Fund.
The grants are specifically aimed at helping residents in disadvantaged communities and will help pay late installments on mortgages that are already overdue.
This program is different from the Housing is Key program, which was specifically intended to assist tenants and landlords.
This program is only aimed at those who own their homes and pay off mortgages.
Who is eligible for a $ 80,000 stimulus grant?
Any resident of the state on or below 100% of the county’s median income can apply for this one-time grant.
The person applying must own either a condominium, a manufactured home or a single-family home while proving that they suffered financially due to the pandemic after January 21, 2020.
Applicants must be out of options to pay off their mortgages, on public assistance and risk losing their homes.
Applications are not received yet, but will be coming soon here. More information is also available via the website.
Documents Required to Apply for California Mortgage Relief Program
- pledge statement
- consumption bills
- proof of income
- account statement
If approved, applicants could see as much as $ 80,000 and the payment would bypass the applicant and go directly to the mortgage lender.
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