$2 billion in federal money to help California families struggling to pay their mortgages

The U.S. Treasury Department has funded an ambitious effort by the California Housing Finance Agency (CalHFA) to use nearly $2 billion in federal money to help California families struggling to pay their mortgages. The principal reduction program is critical for homeowners whose mortgages are “underwater”—where the homeowner owes more on their mortgage than the home is worth. The Keep Your Home California (KYHC) program is focused on assisting low and moderate income families stay in their homes and out of bankruptcy, but without the cooperation of mortgage banks the funds sit idle.

If you are interested in this contact your local Sacramento bankruptcy attorney!