Industry NewsMortgage

California expands ‘Hardest Hit’ eligibility for distressed homeowners

Those who tapped home equity or took out loans after '08 may qualify
Published on Apr 6, 2011

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by CareyBot

California has expanded the pool of borrowers who could qualify for three programs aimed at helping families at risk of losing their homes, by making those who tapped their home equity or who took out loans after Jan. 1, 2009, eligible for assistance.

The California Housing Finance Agency (CalHFA) is administering nearly $2 billion in federal "Hardest Hit" funds, a $7.6 billion program targeted at states with high foreclosure rates or unemployment.