The Federal Housing Finance Agency told loan servicers they could begin accepting money for principal reductions from programs financed by the U.S. Treasury’s Hardest Hit Fund, which includes Keep Your Home California.
– $772 million is allocated to principal reduction, enough for about 9,000 CA borrowers.
– Qualify: live in home, underwater, low-to-moderate income, & delinquent or hardship
– Balance on first mortgage connot exceed $729,750
– Maximum reduction is $100,000 per homeowner
visit http://keepyourhomecalifornia.org
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