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Calif. Gov. Newsom to Use $1 Billion in Fed Taxpayer Funds Pay Down Home Loans — up to $80,000 Per Mortgage

By Madison Hirneisen | 21 December 2021

THE CENTER SQUARE — Thousands of California homeowners who fell behind on mortgage payments during the COVID-19 pandemic could receive relief grants as part of Gov. Gavin Newsom’s $1 billion plan that was federally approved on Monday.

The U.S. Department of Treasury on Monday backed Newsom’s $1 billion mortgage relief grant program, clearing the way for its launch in just a few weeks. The governor estimates that between 20,000 to 40,000 California homeowners could benefit from the program, dubbed the California Mortgage Relief Program.

“We are committed to supporting those hit hardest by the pandemic, and that includes homeowners who have fallen behind on their housing payments,” Newsom said in a statement Monday. “No one should have to live in fear of losing the roof over their head, so we’re stepping up to support struggling homeowners to get them the resources they need to cover past due mortgage payments.” […]

2 Comments on Calif. Gov. Newsom to Use $1 Billion in Fed Taxpayer Funds Pay Down Home Loans — up to $80,000 Per Mortgage

  1. This article on the same site https://www.thecentersquare.com/california/california-democrats-propose-163-billion-tax-hike-to-fund-single-payer-health-care/article_c2b79662-6f3e-11ec-8103-834b01f88b87.html What a mess! So Gruesome will reimburse the banks and lenders with tax dollars…if those homeowners lost their jobs especially in commie California, how long till the next jab induced variant closes them down again? Sounds like just a band aid or another way to grease the too big to fail cabal.

  2. All that does is transfer tax money to banks, Although, it will help homeowners it’s more about bailing out the bankers again in disguise. Create the problem and offer solutions that benefit not the average man but the elite cabal.

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