Mortgage counseling agencies will receive $5 million to hire more counselors over the next two years, and help the half a million California homeowners facing interest rate resets and the threat of foreclosure.
The California Housing Finance Agency has revised its guidelines so first-time homebuyers may apply rental income from an Accessory Dwelling Unit (ADU) toward loan qualification. This update follows the guidelines of Fannie Mae and the Federal Housing Administration and will take effect on May 1, 2017
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