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CA Handouts to those who took cash-out refis


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2011 Apr 6, 11:35am   12,683 views  41 comments

by MarkInSF   ➕follow (0)   💰tip   ignore  

Soon after launching a $2 billion statewide mortgage assistance program, the California Housing Finance Agency said Tuesday it would loosen eligibility requirements – allowing owners who used their homes as cash machines during the boom to now receive some help.

...CalHFA decided to help some of those owners – making them eligible for programs that help unemployed people pay their mortgages, pay moving costs for those losing homes and help delinquent borrowers catch up on their payments.

The state is also expanding eligibility to include mortgages originated after Jan. 1, 2009.

...

You're an employed renter? Go f*** yourself.

You're an unemployed "homeowner", who got a cash-out refi? Here! Have some money!

http://www.sacbee.com/2011/04/06/v-print/3530847/california-mortgage-aid-includes.html

#housing

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41   HousingWatcher   2011 Apr 14, 5:14am  

In many parts of the country, there are just as many, if not more, underwater homeowners compared to renters (ie: Vegas). I'd bet there are instances of this in California. Riverside has a 50% underwater rate. I bet that matches or exceeds Riverside's renter population.

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