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A home that was severely damaged or destroyed by a fire that burned the Pacific Pallisard and Altadena communities in January could qualify for up to $20,000 in mortgage relief.
On June 12th, the state will launch the Calassist Mortgage Fund. This provides subsidies to displaced people whose homes are not easily carried out as a result of disasters.
The Mayalisist Mortgage Fund, managed by California Housing Financial Institutions, only permits disasters that have been declared emergency or major disasters by a governor approved by the US President between January 2023 and January 2025.
One type of declaration was announced during the Eton and Palisade fires in Los Angeles this year, and the 2024 floods in Butte, Tehama, Plumas counties and San Diego in 2024.
According to the Consumer Financial Protection Agency, even if your home is no longer present or damaged after a disaster, you are still liable to pay your mortgage.
If you are affected by a disaster, you may have the option to reduce or suspend mortgage payments for up to 12 months, according to Fannie Mae, the federal national mortgage ASSN. If you are placed in a patience plan, you will ultimately need to pay what you need to pay once the plan expires.
How mortgage relief can help
The Calassist Mortgage Fund can award three-month mortgage payments up to $20,000.
The grant is paid directly to the mortgage service provider, but the provider must participate in the program.
The following mortgage service providers participating in the program are:
AM West Funding Arvest Assurance Financial Group of California Bank of Americabsi Financial Carrington Mortgage Services Cascade Financial Services Celink Chase Churchill Mortgage Clink N’Close Incfci Lender ServicesSalesSalesSalesSalesSalesSalesSalesSalesSalesSalesRegisterCooperNewAmericanFundingInkPatercoCredit UnionPenniMacPNCBankEstate FundingRoundPointMovingRoyalPacificFundingSan DiegoCredit Union (SPS)SelectPolfolioServiceMac SNServicing ServiceBridgeCompanis
If you are awarded a grant, it does not need to be repaid.
How to apply for mortgage relief
The application window opens on June 12th, you can apply by visiting the Calassist Mortgage Fund website and clicking “Application Now” to fill out the online application.
Documents that need to be applied include:
Mortgage Statement Bank Statement Utility Bill Homeowner Insurance or Income Invoice Invoice
According to the Calassist Mortgage Fund website, the program has limited funding.
Applications will be reviewed in the order in which they were submitted.
This is the first, first service offer. Once all funds are awarded, the program will be closed.
You can get program updates by signing up for email updates at the bottom of the Calassist website.
Why are you eligible for the program?
You may be eligible for the program if:
Your main residence is not resided due to a qualifying disaster that occurred between January 1, 2023 and January 8, 2025. You will meet the program’s household income limits, including the total income of all people appointed to the mortgage and/or trust deed. Household income limits vary by county. For example, in Los Angeles County, the income limit is $140,700. The complete list can be found online. You can have a mortgage or reverse mortgage. You own a detached house, a condominium, or a permanently pasted, manufactured home that can contain up to four units.
If you need assistance with preparing or completing your application, call the Calassist Mortgage Fund Monday through Friday, 8am to 5pm (800) 501-0019 for detailed one-on-one assistance.
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