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CalHFA Announces More Mortgage Relief for California Families

Earlier this month, the California Housing Financing Agency (CalHFA) and the Sacramento branch of NeighborWorks held a press conference at the state Capitol to announce the expansion of California’s mortgage relief program. “Over the past year, the California Mortgage Relief program has been helping Californians that are most vulnerable to overcome the financial challenges brought on by the COVID-19 pandemic,” said Tiena Johnson Hall, executive director of the California Housing Finance Agency.

Published

2 years ago

March 2, 2023

Oakland Post

Tiena Johnson Hall. Courtesy photo.

By Aldon Thomas Stiles
California Black Media

“Over the past year, the California Mortgage Relief program has been helping Californians that are most vulnerable to overcome the financial challenges brought on by the COVID-19 pandemic,” said Tiena Johnson Hall, executive director of the California Housing Finance Agency.

One of the major new changes to eligibility, CalHFA officials say, applies to those who own residences with up to four units. Those homeowners can now apply for assistance. Relief through the program has also extended to those with partial-claim second mortgages or loan deferrals from the beginning of 2020.

Additionally, for homeowners who have missed at least two mortgage payments or one property payment before March 1 of this year, the delinquency date for payments has been reset.

Previous beneficiaries of the program are now eligible for additional funds that could add up to $80,000 in total aid. Officials say the program is meant for those who have had trouble keeping up with housing payments due to the COVID-19 pandemic.

Funding for the California Mortgage relief program comes from the federal government’s American Rescue Plan Act’s Homeowners Assistance Fund implemented in 2021, which allocated $1 billion for eligible homeowners across the country.

According to Hall, the program has distributed federal grants and funds to over 10,000 California homeowners.

Not only is applying to the program free, but she also says, homeowners do not have to worry about paying back the relief funds.

The program is provided to homeowners through the CalHFA Homeowner Relief Corporation.

During the press conference held in the first week of Black History Month, Hall made a point to mention that those who tend to struggle with homeownership in California and the nation at large are Black.

“Black communities have been shut out of homeownership by a variety of factors including discriminatory housing practices which equates to less generational wealth,” said Hall.

Homeownership is an incredibly important tool in building generational wealth, according to the U.S. Department of Housing and Urban Development.

Volma Volcy, founder and executive director of the Ring of Democracy, said it is important to secure the prosperity of neighborhoods where residents are at risk for foreclosure.

“When a family is displaced, a whole community is destroyed,” said Volcy.

Volcy also said that the California Mortgage Relief Program has been successful so far in providing aid for those in fear of losing their homes due to pandemic-related financial hardships.

Visit the California Mortgage Relief website to assess your eligibility and apply for the program.

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Google’s New Deal with California Lawmakers and Publishers Will Fund Newsrooms, Explore AI

Gov. Gavin Newsom, California lawmakers and some newspaper publishers last week finalized a $172 million deal with tech giant Google to support local news outlets and artificial intelligence innovation. This deal, the first of its kind in the nation, aims to invest in local journalism statewide over the next five years. However, the initiative is different from a bill proposed by two legislators, news publishers and media employee unions requiring tech giants Google and Meta to split a percentage of ad revenue generated from news stories with publishers and media outlets.

Published

7 days ago

October 1, 2024

Oakland Post

iStock

By Bo Tefu, California Black Media

This deal, the first of its kind in the nation, aims to invest in local journalism statewide over the next five years. However, the initiative is different from a bill proposed by two legislators, news publishers and media employee unions requiring tech giants Google and Meta to split a percentage of ad revenue generated from news stories with publishers and media outlets. Under this new deal, Google will commit $55 million over five years into a new fund administered by the University of California, Berkeley to distribute to local newsrooms. In this partnership, the State is expected to provide $70 over five years toward this initiative. Google also has to pay a lump sum of $10 million annually toward existing grant programs that fund local newsrooms.

The State Legislature and the governor will have to approve the state funds each year. Google has agreed to invest an additional $12.5 million each year in an artificial intelligence program. However, labor advocates are concerned about the threat of job losses as a result of AI being used in newsrooms.

Julie Makinen, board chairperson of the California News Publishers Association, acknowledged that the deal is a sign of progress.

“This is a first step toward what we hope will become a comprehensive program to sustain local news in the long term, and we will push to see it grow in future years,” said Makinen.

However, the deal is “not what we had hoped for when set out, but it is a start and it will begin to provide some help to newsrooms across the state,” she said.

Regina Brown Wilson, Executive Director of California Black Media, said the deal is a commendable first step that beats the alternative: litigation, legislation or Google walking from the deal altogether or getting nothing.

“This kind of public-private partnership is unprecedented. California is leading the way by investing in protecting the press and sustaining quality journalism in our state,” said Brown Wilson. “This fund will help news outlets adapt to a changing landscape and provide some relief. This is especially true for ethnic and community media journalists who have strong connections to their communities.”

Although the state partnered with media outlets and publishers to secure the multi-year deal, unions advocating for media workers argued that the news companies and lawmakers were settling for too little.

Sen. Mike McGuire (D-Healdsburg) proposed a bill earlier this year that aimed to hold tech companies accountable for money they made off news articles. But big tech companies pushed back on bills that tried to force them to share profits with media companies.

McGuire continues to back efforts that require tech companies to pay media outlets to help save jobs in the news industry. He argued that this new deal, “lacks sufficient funding for newspapers and local media, and doesn’t fully address the inequities facing the industry.”