More struggling California homeowners now qualify for mortgage relief, after the state on Tuesday expanded a program designed to help those who have fallen behind on their payments during the COVID-19 pandemic.
Homeowners who missed payments this year now are eligible for aid that previously was offered only to those who missed at least two payments before Dec. 27, 2021. The funds also now can be used to help with past-due property taxes, even for those whose mortgage payments are current, or for those who own their homes outright. And the state has upped the income limit to qualify — homeowners now are eligible for assistance if they make 150% or less of their county’s median income.
Under the new parameters, the California Mortgage Relief Program estimates about 13,000 Bay Area households are eligible for relief. “So many Californians saw their household finances impacted by the COVID-19 public health emergency and are continuing to grapple with the economic fallout,” Lourdes Castro Ramírez, secretary of the California Business, Consumer Services and Housing Agency, said during a news conference over Zoom. In fact, about 10% of California homeowners are not confident, or are only slightly confident, that they’ll make next month’s mortgage payment, she said, citing statistics from the U.S.
on housing payments – Funds awarded to eligible homeowners go directly to their mortgage servicer and never have to be repaid.