From the Sacramento Bee
42,000 of California’s jobless will get help with mortgages
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.
MAKING SENSE OF THE STORY FOR CONSUMERS
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.
To qualify for the program, borrowers must be unemployed and eligible for unemployment benefits, and live in the home tied to the mortgage. Borrowers must be fewer than 90 days behind on mortgage payments and meet low- and moderate-income guidelines. Income requirements can be found at http://keepyourhomecalifornia.com/income.pdf.
Friday, August 13, 2010
Wednesday, August 4, 2010
First Time Home Buyer Program W/Housing Authority - Santa Cruz, Calif.
MCC First Time Home Buyer Program now available!
Great news! The Housing Authority of Santa Cruz County just released the MCC (Mortgage Credit Certificate) allocation for 2010. But there are only 7 available!!!
What does this mean for a new home buyer?
A first time home buyer may qualify for this tax credit of 20%. For example, on a $400,000 mortgage the buyer will recieve about $4,000 a year from the government! That's over $300 per month.This program is by far the best first time buyer program, and not only puts money back in the pocket of the home owners, but also helps them qualify for the new mortgage.
Call me for the details on income and sales price limits
Marlene Henderson, Realtor, Owner/Broker - Ca/Nv
MoeBEST-Henderson Properties and
Property Management
Calif Lic. 00599374
831-429-9091 Office
831-419-9091 Air Phone
www.BestSantaCruzProperties.com
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