North State residents who lost their homes in recent natural disasters can now apply for funds to help pay their mortgage. Applications for the CalAssist Mortgage Fund opened last week.
"Once an eligible homeowner is accepted into the program, we would pay three months of your mortgage payment … with a cap of $20,000" said Rebecca Franklin, chief deputy director for the California Housing and Finance Agency (HFA).
In order to qualify, the housing has to have been destroyed or made unlivable by a "qualified disaster" since 2023. That's when either the state or federal governments officially declare a disaster. In the North State, that includes the Park and Thompson fires, as well as Tropical Storm Hilary, and the heavy winter storms of early 2024.
The money is first-come-first-serve, and never has to be repaid by the recipient. It can be used for past payments that were missed or for future payments.
Even if they aren't eligible for this specific grant, homeowners in need are encouraged to reach out to the HFA because they can get referred to a certified housing counselor with the U.S. Department of Housing and Urban Development (HUD).
"It's a free service,” Franklin said. “These counselors are aware of all of the litany of programs the state of California and the federal government have provided or established for homeowners … We want to support in any way we can."
Franklin said the HFA has been running the HUD certified counseling program since 2022. This is the first year it's offered the CalAssist Mortgage Funds.
Franklin said, once approved, payments from the fund will usually go out in less than 30 days.
