California expects mortgage-aid program to begin in weeks

[SK in CV]

[quote=flu]No worries..Just think of CA government as a mini version of the Fed government 2 years ago…Things will be fine 2 years from now, when utterly the CA government majorly f’s up and has it’s own watershed moment.

No good ever comes with a one party dominated government.[/quote]

and

[quote=CA Renter]Good thing the state and federal governments are swimming in cash; otherwise, they wouldn’t be able to afford these nice “programs” for the poor, poor “homeowners.” [/quote]

Just to clarify, this is NOT a state funded program. It is a federal program that is administered at the state level.

Other than that, I don’t really have any opinion on the program, except that I don’t think it will have any significant effect on the market. As long as the lenders don’t suck up some of the losses, it won’t address the long term problems in the market.

[SD Squatter]

CalHFA definition of “low and moderate income homeowners”:

Q: How do I know if I will be eligible for one of the Keep Your Home California programs?

A: You may be eligible for a Keep Your Home California program if you meet the following criteria:

* Own and occupy a one to four-unit home located in California.
* Your original loan amount is equal to or less than:
o $729,750 – one unit
o $934,200 – two units
o $1,129,250 – three units
o $1,403,400 – four units
* Have a first lien mortgage that was originated on or before January 1, 2009.
* Have a monthly mortgage payment (including taxes, insurance and homeowners association dues) greater than 31% of your monthly gross (pre-tax) income.
* Have a mortgage payment that is not affordable due to a financial hardship that can be documented and meets hardship qualifications such as loss of job, disability, illness, or divorce.

If you answered YES to all of these questions, you may be eligible for a Keep Your Home California program in California.

Taken from:

http://www.keepyourhomecalifornia.org

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.

[SD Squatter]

CalHFA definition of “low and moderate income homeowners”:

Q: How do I know if I will be eligible for one of the Keep Your Home California programs?

A: You may be eligible for a Keep Your Home California program if you meet the following criteria:

* Own and occupy a one to four-unit home located in California.
* Your original loan amount is equal to or less than:
o $729,750 – one unit
o $934,200 – two units
o $1,129,250 – three units
o $1,403,400 – four units
* Have a first lien mortgage that was originated on or before January 1, 2009.
* Have a monthly mortgage payment (including taxes, insurance and homeowners association dues) greater than 31% of your monthly gross (pre-tax) income.
* Have a mortgage payment that is not affordable due to a financial hardship that can be documented and meets hardship qualifications such as loss of job, disability, illness, or divorce.

If you answered YES to all of these questions, you may be eligible for a Keep Your Home California program in California.

Taken from:

http://www.keepyourhomecalifornia.org

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.

[SD Squatter]

CalHFA definition of “low and moderate income homeowners”:

Q: How do I know if I will be eligible for one of the Keep Your Home California programs?

A: You may be eligible for a Keep Your Home California program if you meet the following criteria:

* Own and occupy a one to four-unit home located in California.
* Your original loan amount is equal to or less than:
o $729,750 – one unit
o $934,200 – two units
o $1,129,250 – three units
o $1,403,400 – four units
* Have a first lien mortgage that was originated on or before January 1, 2009.
* Have a monthly mortgage payment (including taxes, insurance and homeowners association dues) greater than 31% of your monthly gross (pre-tax) income.
* Have a mortgage payment that is not affordable due to a financial hardship that can be documented and meets hardship qualifications such as loss of job, disability, illness, or divorce.

If you answered YES to all of these questions, you may be eligible for a Keep Your Home California program in California.

Taken from:

http://www.keepyourhomecalifornia.org

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.

[SD Squatter]

CalHFA definition of “low and moderate income homeowners”:

Q: How do I know if I will be eligible for one of the Keep Your Home California programs?

A: You may be eligible for a Keep Your Home California program if you meet the following criteria:

* Own and occupy a one to four-unit home located in California.
* Your original loan amount is equal to or less than:
o $729,750 – one unit
o $934,200 – two units
o $1,129,250 – three units
o $1,403,400 – four units
* Have a first lien mortgage that was originated on or before January 1, 2009.
* Have a monthly mortgage payment (including taxes, insurance and homeowners association dues) greater than 31% of your monthly gross (pre-tax) income.
* Have a mortgage payment that is not affordable due to a financial hardship that can be documented and meets hardship qualifications such as loss of job, disability, illness, or divorce.

If you answered YES to all of these questions, you may be eligible for a Keep Your Home California program in California.

Taken from:

http://www.keepyourhomecalifornia.org

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.

[SD Squatter]

CalHFA definition of “low and moderate income homeowners”:

Q: How do I know if I will be eligible for one of the Keep Your Home California programs?

A: You may be eligible for a Keep Your Home California program if you meet the following criteria:

* Own and occupy a one to four-unit home located in California.
* Your original loan amount is equal to or less than:
o $729,750 – one unit
o $934,200 – two units
o $1,129,250 – three units
o $1,403,400 – four units
* Have a first lien mortgage that was originated on or before January 1, 2009.
* Have a monthly mortgage payment (including taxes, insurance and homeowners association dues) greater than 31% of your monthly gross (pre-tax) income.
* Have a mortgage payment that is not affordable due to a financial hardship that can be documented and meets hardship qualifications such as loss of job, disability, illness, or divorce.

If you answered YES to all of these questions, you may be eligible for a Keep Your Home California program in California.

Taken from:

http://www.keepyourhomecalifornia.org

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[SD Squatter]

[quote=patientrenter]
Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.[/quote]

Yes! More goodies are already coming from Dodd-Frank:

http://piggington.com/hud_to_roll_out_emergency_loan_program_for_unemployed_quothomeow

[SD Squatter]

[quote=patientrenter]
Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.[/quote]

Yes! More goodies are already coming from Dodd-Frank:

http://piggington.com/hud_to_roll_out_emergency_loan_program_for_unemployed_quothomeow

[SD Squatter]

[quote=patientrenter]
Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.[/quote]

Yes! More goodies are already coming from Dodd-Frank:

http://piggington.com/hud_to_roll_out_emergency_loan_program_for_unemployed_quothomeow

[SD Squatter]

[quote=patientrenter]
Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.[/quote]

Yes! More goodies are already coming from Dodd-Frank:

http://piggington.com/hud_to_roll_out_emergency_loan_program_for_unemployed_quothomeow

[Author]

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