According to our big bank, Bank of America, "Distressed California Homeowners May Qualify for California's Keep Your Home California Transition Assistance Program (TAP)"
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. One of the requirements is that the homeowner maintain the home during the short sale process to qualify.
If you can no longer afford your home and are pursuing a short sale in lieu of foreclosure, you may be eligible for financial help with for relocation to alternative housing.
The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.http://onlinehomesandland.yourkwagent.com/atj/user/AdditionalGetAction.do?pageId=357077.
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.
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