Homeownership Resources

Homeownership Resources

Down payment assistance programs available in Tuolumne County.

For information on other government loan financing programs you may wish to visit-
  • CalHFA (California Housing Finance Agency's) website, www.calhfa.ca.gov. In addition to various loan programs, CalHFA also offers a down payment assistance program.
  • USDA (United States Department of Agriculture) Single Family Housing Loans (Section 502). They offer financing for lower income families who are having difficulty obtaining a loan from other sources.
Foreclosure Prevention

Many homeowners are having difficulty paying their mortgages or refinancing their homes given the downturn in the housing market. There are a number of resources available that may be able to assist you.

ATCAA (Amador-Tuolumne Community Action Agency), a local nonprofit organization, provides free foreclosure counseling and can be reached at (209)533-1397 Extension 231.

For information on President Obama's Making Homes Affordable Program please visit www.makinghomeaffordable.gov.

This program offers-
  • refinancing for those that are paying their mortgages on time but are not able to refinance to take advantage of today's lower mortgage rates perhaps due to a decrease in the value of their home, and
  • loan modification for those homeowners who are struggling to make their monthly mortgage payments.
There are a number of foreclosure rescue scams where fraudulent foreclosure counselors target homeowners looking for assistance. The California Attorney General's Office has more information on these scams.

For those who wish more information concerning foreclosure resources including a list of lender contacts you may wish to visit www.yourhome.ca.gov.

There has been much talk and some controversy about reverse mortgages in the media. A reverse mortgage is a home loan that lets you convert the equity in your home into cash, but no repayment is required. These are especially popular with seniors. Before considering this option, borrowers are encouraged to research their options carefully.

The Federal Office of Housing & Community Development has reverse mortgage information. Links to that site are on the right side of this page. The Federal Trade Commission also has "Facts for Consumers: Reverse Mortgages-Get the Facts Before Cashing in on Your Home's Equity".