State Handing Out Mortgage Grants To RivCo Homeowners, Up To $80K

Murrieta CA

04 April, 2022

8:41 PM

Description

CALIFORNIA — Riverside County residents struggling to meet their mortgage obligations are being invited to apply for financial help via a state program designed to provide relief payments for property owners who haven't recovered from economic hardships connected to the coronavirus shutdowns. At least one Riverside County city is encouraging its residents to apply. "Getting the word out about this great community program not only benefits the city, (but) we see the trickle-down across our whole valley when people have to choose between paying their mortgage, or putting food on the table," Indio Mayor Waymond Fermon said. "This program provides ... money to keep people in their homes during tough times." The California Mortgage Relief Program, administered by the California Housing Finance Agency, has been available since last year, but only 49 Riverside County homeowners have accessed it — and only four of those were from the Coachella Valley, officials said. It's a grant program, with no repayment obligation. Up to $80,000 in past-due payments may be covered. The funds were made available under the federal 2021 American Rescue Plan Act. Criteria for qualification include household income at or below 100 percent of area median income, unable to make mortgage payments on two occasions since last Dec. 27 and suffered financial hardships tied to the public health shutdowns since Jan. 21, 2020. More information is available at www.CAMortgageRelief.org, and applications can be filled out after clicking on the "apply now" button, officials said. Anyone who may need additional assistance was encouraged to call the California Mortgage Relief Program Center at 888-840-2594, or email [email protected]. —City News Service contributed to this report.