Distressed California Homeowners May Qualify for California's Program

Distressed California Homeowners May Qualify for California's Keep Your Home California Transition Assistance Program (TAP)

Another new scheme has been announced to help Distressed California Homeowners transition to a new residence.

If a financially distressed California homeowner can no longer afford their homes and are pursuing a short sale or a deed in lieu of foreclosure, they may be eligible for financial help with their relocation to alternative housing.

The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes. They must:

• Apply for the funds through their state's website or by calling 1.888.954.5337.

• Maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.

For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.

To learn more about the Transition Assistance Program's guidelines, and how your clients may qualify, please visit that program's website at http://keepyourhomecalifornia.org.

Graham Holmes

Yucaipa and Redlands Listing Broker