NEW PILOT PROGRAM FOR REVERSE MORTGAGE ASSISTANCE
Keep Your Home California recently announced a new pilot program to help low- and moderate-income senior homeowners avoid foreclosure on their reverse mortgages. Senior homeowners who are at risk of losing their home to foreclosure due to delinquent property expenses associated with their Federal Housing Administration (FHA) insured reverse mortgages could qualify for as much as $25,000 in assistance.
The Reverse Mortgage Assistance Pilot Program is intended to help financially distressed California homeowners 62 years or older who have a FHA Home Equity Conversion Mortgage (HECM). Used in conjunction with special counseling that provides services to enable senior homeowners to assess their overall budgetary health, this program is designed to help qualifying seniors manage their delinquent property expenses. These expenses include property taxes and homeowner’s insurance, as well as up to 12 months of additional assistance for future property expenses to ensure homeowners get back on their feet.
Senior homeowners must meet the program’s county-by-county income limits and have endured a financial hardship – such as a reduction of income, a divorce, a death in the family or extraordinary medical bills – in order to qualify for assistance. Homeowners must also reside in the home subject to the reverse mortgage and be able to make required property expense payments on a go-forward basis.
For More information visit: http://keepyourhomecalifornia.org
Remember to follow our Blog at: https://therealestatebeat.wordpress.com/
Got Questions? – The Caton Team is here to help.
Email Sabrina & Susan at: Info@TheCatonTeam.com
Call us at: 650-568-5522
Want Real Estate Info on the Go? Download our FREE Real Estate App: http://thecatonteam.com/mobileapp
Visit our Website at: http://thecatonteam.com/
VISIT OUR NEW INSTAGRAM PAGE: http://instagram.com/thecatonteam
Visit us on Facebook: http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834
Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro
Please enjoy my personal journey through homeownership at:
Thanks for reading – Sabrina
The Caton Team – Susan & Sabrina – A Family of Realtors
Berkshire Hathaway HomeServices – Drysdale Properties
Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008