Keep Your Home California Transition Assistance Program (TAP)

There are many homeowners in California who are having financial difficulties and who can no longer afford the mortgage(s) on their homes and are pursuing a short sale or a deed in lieu, they may be eligible for relocation assistance through HAFA or the Transition Assistance Program (TAP) program.

HAFA and TAP are government programs designed to assistance homeowners with relocation incentive if eligible who are distressed.

The state of California through TAP is providing up to $5,000 in transition assistance to eligible homeowners whom can no longer afford their properties. A borrower applying for TAP can do the following:

• Apply for the funds through their state’s website or by calling them.
• Maintain their property until their house is sold or returned to the lender via an approved deed in lieu.

If approved for the TAP program, the funds may be used in addition to any other transition assistance that the homeowner may receive by in participating programs ( HAFA, etc. ) It’s important to know that there is often a cap on relocation assistance and borrowers may not be eligible to receive the 5,000 through tap and the now 10,000 HAFA allows.

You can review if you may be eligible for the TAP program on their site.

If you are a borrower or agent and have any questions in regards to anything short sale related, please fill out the form below.

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