Foreclosure Prevention
Para información en español sobre el guía para evitar el embargo de su propiedad (foreclosure) selecione aquí.
Are you experiencing difficulty in making your mortgage payments? If so, act now! Here are some tips to prevent credit trouble or foreclosure.
What should I do if I miss a mortgage payment? Or even before?
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Call for help. More than half of homeowners facing foreclosure did not call for help when they fall behind in their payments.
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Don't make a bad situation worse. Ignoring your situation won’t make it go away.
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Notify the bank as soon as you know your payment will be late. Calling when you are 30 or 60 days late is better than calling when you are 120 days late.
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Work it out. Depending on the situation, the lender may lower the interest rate, lower the payment, or enter into a repayment agreement.
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Avoid foreclosure rescue scams by calling a reputable nonprofit organization. For a list of known scams, click here. HOPE for Homeowners is an independent resource that is part of a HUD-certified network dedicated to helping homeowners.
For additional information on foreclosure prevention visit the U.S. Department of Housing and Urban Development (HUD) webpage by clicking here.
Who do I contact?
Housing Opportunities Collaborative - To talk with a certified counselor or find out when the next foreclosure prevention HOME Clinic is, contact the Housing Opportunities Collaborative. HOME Clinic’s provide an opportunity to receive one-on-one counseling from foreclosure experts.
Foreclosure Prevention Center - Community HousingWorks offers a Foreclosure Prevention Center to provide you access to mortgage assessors and foreclosure counselors. To access the Center, click here or call (619) 282-6647 x5468. Ask about office hours in Chula Vista!
HOPE Hotline - For extremely distressed households, call 888-995-HOPE.
Making Home Affordable - The Obama Administration's Making Home Affordable website offers self-assessment tools for homeowners to determine whether they are eligible for loan modification and refinancing programs and calculate the monthly mortgage payment reductions.
Federal Stimulus & Recovery Act Programs
Community Development Block Grant - Recovery (CDBG-R)
Implementation of the Community Development Block Grant - Recovery Program - Amendment to the 2008/2009 Annual Action Plan
Chula Vista received over $532,00 in new one time Community Development Block Grant - Recovery (CDBG-R) funds to stimulate the local economy. Projects are currently underway and the City's approved plan is available at the link above.
Homeless Prevention and Rapid Re-Housing Program (HPRP)
Implementation of the Homeless Prevention and Rapid Re-Housing Program - Amendment to the 2008/2009 Annual Action Plan for
Chula Vista received over $800,00 in new one time Homeless Prevention and Rapid Rehousing Program (HPRP) funds to aid families affected by the economic crisis and facing potential homelessness. The City's approved plan can be viewed at the link above. For additional information on HPRP funds please contact South Bay Community Services at (619) 420-3620.
Neighborhood Stabilization Program (NSP)
Implementation of the Neighborhood Stabilization Program - Amendment to the 2008/2009 Annual Action Plan for
Update (9/05/09) to the First Amendment
On January 13, 2009 the U.S. Department of Housing and Urban Development (HUD) notified the City of Chula Vista that it was approved to receive over $2.8m in additional special one-time Community Development Block Grant (CDBG) funds through a new Neighborhood Stabilization Program (NSP). The purpose of the NSP program is to assist Cities dealing with the negative effects of abandoned and foreclosed properties, as opposed to prevention of foreclosure. The NSP funds may be used to purchase foreclosed or abandoned homes/properties and/or to rehabilitate, resell, or redevelop these homes to helpstabilize neighboring homes and neighborhoods.
The City's proposed plan as submitted to HUD can now be viewed at the links above, including an update on 9/5/09 which expanded the eligible target areas for assistance. The City of Chula Vista identified two NSP eligible programs, as follows:
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NSP First-Time Homebuyer Program - providing up to $70,000 in down payment and closing cost assistance towards the purchase of a foreclosed property within targeted neighborhoods in Chula Vista. If you earn under $86,500 (family of 4) and are a first-time homebuyer (have not owned property within the past 3 years) you may qualify. To learn more about the NSP First-Time Homebuyer Program, click here.
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Permanent rental housing - $1M will be targeted to partner with an affordable housing developer to acquire and rehabilitate foreclosed properties to create permanent rental housing for very low-income residents (residents earning below 50% area median income). A Request for Qualifications (RFQ) was issued in April 2009 to select development partners to assist in the identification of potential projects. Additional information on this activity will be posted as available. If you are looking for permanant rental housing please refer to our existing affordable rental opprtunities by clicking here.
With respect to reporting, Office of Management and Business (OMB) has issued detailed guidance on the requirements for recipients’ funds. Recipients are required to report specified information to the Department of Housing and Urban Development (HUD) 30 days after the end of each calendar quarter through the Disaster Recovery Grant Reporting System (DRGR). This includes, but is not limited to a detailed list of all projects and activities for which funds were obligated or expended, an evaluation of the completion status of the project or activity, and an estimate of the number of jobs created or retained. HUD has also identified a number of program-specific measures that will be collected through this reporting process. HUD expects that the transparency requirements, specifically the requirement to publish both spending and recipient performance reports, will create accountability amongst its grantees.
Quarterly Progress Report - April 1, 2009 through June 30, 2009
Quarterly Progress Report - July 1, 2009 through September 30, 2009
Quarterly Progress Report - October 1, 2009 through December 31, 2009
Quarterly Progress Report - January 1, 2010 through March 31, 2010
Quarterly Progress Report - April 1, 2010 through June 30, 2010
Quarterly Progress Report - July 1, 2010 through September 30, 2010
Additional information regarding the NSP funds can be found by visiting the U.S. Department of Housing and Community Development at:
http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/
Homeowner Repair and First-Time Homebuyer Programs
HOMEOWNER REPAIRS
FIRST-TIME HOMEBUYERS
Community Housing Improvement Program (CHIP)
The Community Housing Improvement Program (CHIP) provides low interest and/or deferred loans to homeowners of single-family homes and mobilehomes to repair health- and safety-related issues. Click on the below links to access eligibility information and the CHIP application form.
Program Eligibility and Terms
Para información en español, selecione aquí.
CHIP Application
Neighborhood Stabilization First-Time Homebuyer Program
About the Program
The Neighborhood Stabilization First-Time Homebuyer (NS FTHB) Program will assist qualified first-time low- and moderate-income homebuyers purchase foreclosed properties within targeted neighborhoods in Chula Vista, for a map of eligible neighborhoods, click here. Income-qualified homebuyers will be eligible to receive down payment and closing cost assistance in a shared equity loan of up to $70,000 for low-income households and up to $40,000 for moderate-income households, at 0% interest. No payments are required until the homeowner sells, rents, refinances, or transfers title to the property. If the homeowner lives in the property 15+ years, only the principal loan amount must be repaid. In order to address potential health and safety issues of foreclosed properties, up to $24,999 can be added to the required “gap” financing for rehabilitation of the property, but cannot exceed the qualifying threshold.
Full program guidelines can be downloaded by clicking here.
In order to assist pre-committed buyers that are having difficulty locating properties on the open market, the City now offers a secondary program called the Neighborhood Stabilization Resale Program (NSRP). The City acquires and rehabilitates properties through the NSRP and mekes them available to pre-committed NS FTHB buyers. For additional information, and a list of current properties, click here.
For additional information and a printable brochure, click here. Para información en español, selecione aquí.
Certified Lenders - For a list of certified lending partners, please click here.
Who to Contact
For information about the NS FTHB Program, please contact Community Housing Works at http://www.chworks.org or (619) 282-6647.
Eligibility Criteria
1. Your annual household income may not exceed 120% of the Area Median Income (AMI). Applicants below 120% AMI will be eligible for up to $40,000 in assistance and those below 80% AMI will be eligible for up to $70,000 in assistance. For current income limits, click here.
2. The home must be your principal residence.
3. You must be able to contribute a minimum of three percent (3%) of the purchase price from your own funds toward the down payment, closing costs, or reserves.
4. You must not have owned a home within the last three years.
Process
Due to funding requirements the NS FTHB Program requires that potential buyers receive pre-qualification with both primary financing and City assistance prior to locating an eligible property. To receive a pre-qualification, contact a certified lender partner and/or Community HousingWorks.
Homebuyers and lenders must attend a certification class to be eligible for the program. In addition, we strongly encourage realtors to come to a scheduled education session. Chula Vista based classes have been scheduled as follows:
Homebuyers - The NSP requires that all applicants take an 8-hour HUD certified Homebuyer Education Class. The class prepares you with the basics of homeownership. In order to enroll in the class and/or find out about scheduled class dates, please call Community HousingWorks at 619-282-6647 Ext. 5465. Additional agencies that provide HUD Certified Homebuyer Education can be found by clicking here. Please ensure that the class is an 8-hour HUD certified class.
Lenders – Lender training is held biannually at Community HousingWorks (4305 University Avenue, San Diego 92105). In order to find out when the next class is scheduled, please email Community HousingWorks at acampos@chworks.org with your Name, Office Address, Personal Email Address, and Cell Phone #.
Realtors - If you are interested in learning more, please refer to the full program guidelines above and the summary brochure for realtors, by clicking here. In addition, you can contact Dee Sodano of Community HousingWorks at dsodano@chworks.org.
An updated schedule of available classes will be posted on this web page, as available.
Mortgage Credit Certificate Program
About the Program
A Mortgage Credit Certificate (MCC) provides a double bonus. It increases the loan amount you qualify for and it increases your take-home pay. The MCC entitles you to take a federal income tax credit of fifteen percent (15%) of the annual interest you pay on your home mortgage. Because the MCC reduces your federal income taxes and increases your net earnings, it is a great help in qualifying for your first home mortgage. But it doesn't stop there. The MCC is registered with the IRS, and it continues to decrease your federal income taxes each year for as long as you live in your home.
MCC funds are usually awarded to the Agency early in the year and may be depleted within a few months and/or may only be available for targeted "low income" census tracts. Click JPEG or PDF to view and/or download a map of eligible census tracts, shown in purple. Non-eligible census tracts are shown in brown.
Who to Contact
For information about the MCC program, please contact Affordable Housing Applications (AHA):
AHA Housing
4579 Maple Avenue, Suite #1
La Mesa, CA 91941
TOLL FREE (800) 591-3111 / LOCAL (619) 469-0270
E-mail: customerservice@ahahousing.com
Web: www.ahahousing.com
Building Affordable Housing
About Building Affordable Housing in Chula Vista
Building affordable housing today in any city in California is an economically challenging endeavor that requires true public-private partnerships to overcome market forces. The Redevelopment Agency & Housing Authority is a proactive partner in the creation of new affordable housing in Chula Vista, working closely with lenders, developers, nonprofits, state and federal agencies, and tenants and buyers to secure land, financing, entitlements, and occupancy of new developments. The Redevelopment Agency & Housing Authority also plays a lead role in coordinating with other City Departments to implement local and state affordable housing policies, including Chula Vista’s Balanced Communities Affordable Housing Policy and the state’s Residential Desnity Bonus Law.
Affordable Housing Review Application
The Redevelopment Agency & Housing Authority provides loans at favorable terms for acquisition, rehabilitation, and new construction of affordable rental housing. The City also provides technical assistance and predevelopment funds to eligible nonprofit housing developers.
For those interested in submitting an application to the City for an affordable housing development and financial assistance, please contact:
Amanda Mills, Redevelopment & Housing Manager
Redevelopment Agency & Housing Authority
City of Chula Vista
276 Fourth Avenue
Chula Vista, CA 91910
Balanced Communities Affordable Housing Policy
The City’s Balanced Communities Affordable Housing Policy requires ten percent (10%) of all new residential developments of fifty (50) units or more to be affordable to low- and moderate-income households. The goals of the Policy are to: (1) Produce affordable housing so that Chula Vista residents and persons working within the City can afford to purchase or rent decent housing; (2) Provide for low- and moderate-income housing to meet existing and anticipated future employment needs of the City; and (3) Help distribute low- and moderate-income households throughout the City.
In 2008, Redevelopment & Housing will be developing an ordinance to update the Policy. Updated information about the proposed ordinance will be posted on this web site as it becomes available. For more information about this Policy and its implementation, please contact Redevelopment & Housing staff at (619) 691-5047.
