US Senator Alex Padilla Encourages Eligible Californians to Apply for New California Mortgage Relief Program
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$1 billion in federal funds provides mortgage relief to up to 40,000 households across California
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January 26, 2022 – CALIFORNIA – On Tuesday, U.S. Senator Alex Padilla (D-California) encouraged eligible Californians to apply for the state’s new mortgage relief program during a virtual conversation with the California Housing Finance Agency (CalHFA ) and California Business, Consumer Services and Housing Agency (BCSH).
Following recent US Treasury approval, the state launched the California Mortgage Relief Program to provide one-time payments to qualified homeowners who have fallen behind on their housing payments or to reverse missed payments up to $80,000 under the state program Housing is Key. initiative. Federal funding of $1 billion for this program comes from the US Bailout Act of 2021, which Senator Padilla voted to pass. Senator Padilla has been focused on ensuring families have the resources they need to recover from the economic impacts of the pandemic.
“When I was sworn into the Senate a year ago this month, my top priority was helping Californians meet the challenges of the COVID-19 pandemic,” said Senator Alex Padilla. “Through aid from the American Rescue Plan, California is receiving more than $1 billion to fund the California Mortgage Relief Program, which will help working families who have fallen behind on their mortgage payments due to hardship. finances of the pandemic. I work in Congress to make sure we continue to work toward a full and inclusive pandemic recovery. »
“The California Mortgage Relief Program completes a full range of housing assistance to keep Californians in their homes,” said Lourdes Castro Ramírez, secretary of the California Business, Consumer Services and Housing Agency. “This federal funding will provide much-needed relief to thousands of struggling homeowners who have fallen behind on their payments due to the pandemic, with 40% of funding going to underserved communities hardest hit by COVID-19.”
“For more than 40 years, CalHFA has successfully provided services to low and middle income homebuyers. We are proud to continue this work by overseeing the deployment of federal mortgage relief funds to California homeowners hardest hit financially by the COVID-19 pandemic,” said Tiena Johnson Hall, executive director of CalHFA.
Owners can check their eligibility and apply through an online portal at www.CAMortgageRelief.org and can get more information by calling 888-840-2594.
Source: Senator Alex Padilla