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The state is again expanding its federally funded mortgage relief program to help more Californians. People who missed mortgage payments as late as Feb. 1 are now eligible for help.
Although the future of a fourth stimulus check is uncertain, there is still a huge chunk of money homeowners can tap into to get relief if they are struggling with housing expenses. While...
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
A second shot of relief. The mortgage relief program was originally seen as one-time-only assistance. Now, however, California homeowners who've already received help can apply for more if they ...
Newsom's administration said the state expects to be reimbursed by the federal government for the disaster relief funding. The governor also announced a commitment Thursday by 270 state-chartered banks, credit unions and lenders to provide mortgage relief to homeowners impacted by fires in Los Angeles and Ventura counties.
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
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