Cardoza encourages homeowners to apply for assistance

Por OLIVIA RUIZ / Vida En El Valle

(Published Wednesday, January 19th, 2011 09:35AM)

Merced, Modesto y Stockton counties belong to one of the congressional districts with the highest foreclosures rates in the country. For that reason, 18th district Congressman Dennis Cardoza (D, Merced) encourages homeowners to apply for assistance as soon as possible.

"The Central Valley has been hit especially hard by the housing crisis, and our homeowners need to take quick action to make sure they get the emergency assistance they need to stay in their homes," said Congressman Cardoza in a press release. "Even if you are unsure of whether you qualify, please call today and apply for the 'Keep Your Home California' program."

While nearly $2 billion in federal funds have been provided to the Keep Your Home California program, the assistance will be doled out on a first come, first served basis so homeowners need to apply as soon as possible by calling 888-954-5337.

All the details and eligibility requirements can be found online: www.keepyourhomecalifornia.org.

"While this $2 billion in federal assistance will significantly help thousands of homeowners, I will continue working for more comprehensive solutions like the HOME Act to further stabilize the housing market. Preventing unnecessary foreclosures is an important step toward creating a brighter economic future for the Valley," said Cardoza, who introduced the Housing Opportunity and Mortgage Equity (HOME) Act to stabilize the housing crisis in California's Central Valley and nationwide.

The HOME Act would reduce defaults and foreclosures significantly; reward homeowners who have continued to make their mortgage payments; and free up the capital needed to reinvigorate the housing market and the economy as a whole.