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California has launched a new $105 million grant program to assist victims of the Los Angeles County wildfires with their mortgage payments. Announced Thursday (June 5) in Altadena, the initiative allows qualifying residents to receive up to $20,000 to cover three months of mortgage payments. This effort is part of the California Housing Finance Agency's (CalHFA) response to recent disasters.
Rebecca Franklin, chief deputy director of CalHFA, emphasized the program's benefits, stating, "You don’t have to pay this money back. It’s a grant." The program aims to provide immediate financial relief to those who have lost their homes in the wildfires, ensuring they can maintain their mortgage commitments during the recovery period.
Residents can begin applying for the grant starting June 12. The program is designed to alleviate the financial burden on affected homeowners and help them rebuild their lives without the added stress of mortgage payments.
To qualify for the grant, residents must earn no more than the median income in their counties. That's $140,700 a year in LA County, $137,150 a year in San Bernardino and Riverside counties, and $180,300 a year in Orange County.
To apply for the grant, go to CalAssistMortgageFund.org. Assistance is also available by calling 1-800-501-0019