You can read more about the federal and California homebuyer tax credits here - the site is for those with credit problems, but the tax credit and information here is for everyone regardless of credit history or status.
CA Mortgage Education Programs in Your Area
There are county, and municipal home buyer education and assistance programs to help you learn about home loans, the home loan process, and how to shop wisely for a home you can afford. You may also qualify for down payment assistance and first time buyer programs that offer low interest rates and other favorable mortgage terms if you attend these sessions. You can start searching for some of these programs at the California Housing Finance Agency (CalHFA) and the Housing & Urban Development (HUD). California is pro-active in promoting home ownership and providing help to homeowners who are experiencing financial or other difficulties. The following list provides an overview of available federal and California mortgage resources; you're strongly encouraged to conduct your own research for locating additional resources, including assistance for veterans and others with special needs.Getting Foreclosure Help and Avoiding Scams
California homeowners facing foreclosure can get help from credit counseling agencies, government relief programs, and other sources. The most important thing to know about foreclosure is that your chances of preventing it increase with early action on your part. Don't let denial, fear, or procrastination lead to losing your home.If you cannot qualify to refinance your home loan through traditional lenders, you may qualify for refinance programs provided through Fannie Mae, Freddie Mac, and government housing agencies like FHA. Foreclosures in California can take four months or longer, depending on individual factors including county backlog and legal issues.
Reinstating your home loan from foreclosure can be costly; you'll have to pay all past due payments and late charges in addition to foreclosure fees and costs. It's far better to seek help before your lender starts foreclosure. When seeking foreclosure help, you'll want to avoid real estate and foreclosure scammers who may approach you offering deals that are too good to be true.
The Federal Trade Commission and the California Attorney General advise homeowners to be wary of unsolicited offers of assistance, and to verify the credentials and business record of any individual or organization offering help. Additional foreclosure information is in the list below.
California Homebuyer & Home Owner Resources:
- US Department of Housing & Urban Development list of California Homebuyer Programs by City
- California Housing Finance Agency (CalHFA) homebuyer programs
- CalHFA Downpayment Assistance Programs
- California Reverse Mortgage Quote. Get the best rates on Reverse Mortgages in Delaware.
- State of California Home Mortgage Information Links to information on buying, owning, and home mortgage problems
- California Office of the Attorney General foreclosure scam alert
- City of Elk Grove -Help with Your Mortgage (Information useful for CA residents)
- California Veterans Assistance Foundation
- California Property Tax rate (estimates by state)
- Fannie Mae Home Affordable Refinance and Loan Modification Programs
- Freddie Mac Home Affordable Refinance and Loan Modification Programs
- US Dept of Housing and Urban Development (HUD info for home buyers)
- HUD California Specific Homebuying Information
- National Foundation for Credit Counseling (links to local providers)
- Veterans Administration Loan Guaranty Program
- CalHFA Info on Special Needs Housing
- Special needs housing Los Angeles County
- City of Berkeley special needs housing
