Benefit assistance through MRAP can
be a one time payment of up to $25,000 to cover principal, interest, taxes and
insurance, as well as any homeowner's association dues.
To qualify the West Sacramento
Homeowner must qualify as a low-to-moderate income household, as follows:
- You must be in the low-to-moderate
income bracket of 120% or less of the Housing and Community Development
Area Median Income 120%. The HCD median income for a family of 4 in West
Sacramento County is currently $91,320
- You will need to complete and sign a
Hardship Affidavit / 3rd Party Authorization documenting the reason for
the hardship
- Your Payment including Principle,
interest, taxes and insurance cannot exceed 38% or your gross monthly
income and you must have adequate income to sustain the payment
- You must agree to provide all
necessary documentation to satisfy program guidelines established by CalHFA MAC.
- You must be no more than 2 payments
delinquent
- And your Mortgage loan is delinquent
or at risk of imminent default as substantiated by homeowner’s hardship
documentation. Loans in foreclosure are eligible.
Unfortunately Homeowners in an
“active” bankruptcy are ineligible for KYHC
program assistance consideration.
To find out if your lender is
participating in the program and to see if you qualify, call me today. As
Certified Default Advocates it is important to us that you understand all your
options. To get a better idea of when your West Sacramento homewill be worth what you owe,
log in to www.shortsaleandloanmod.info for a free estimate
or call me today for a free no obligation consultation. Call me today and sleep
better tonight; you’ll be glad you did
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