Hpp Cares Blog

Recent blog posts

The Importance of Housing Agency Audits

Aug 15, 2023 at 2:00pm

Sometimes HPP Cares finds that some individuals submit applications for funding knowing they do not qualify. Therefore, it is essential for the agency to verify and confirm the eligibility of all applicants, as these funds are provided by federal agencies, requiring a stringent verification process before disbursal. The stringent verification processes ensure that the agency receives clean audit results when audited by independent third parties.

Why the State Requires the Escrow to be fully funded.

Apr 4, 2023 at 12:00pm

HPP Cares and the State have an obligation to ensure that the Grant funds issued to homeowners go towards funding predevelopment costs associated with building an ADU. Therefore as soon as a homeowner is awarded, the $40k goes into the homeowners’ managed escrow account.

ADU Grant Program Sign-On Letter

Jan 9, 2023 at 12:00pm

Part of the HHP Cares’ response to the need for additional funding was to invite homeowners to make their voices heard through a sign-on letter. The aim of the sign-on letter is to request the State to make available the additional $50 million, earmarked for the ADU grant program, to homeowners on the waitlist.

Paying Off Your Mortgage Earlier Than Scheduled - Part 2

Jan 6, 2023 at 3:00pm

Cash influx can be deposited into your mortgage. You will need to do this with an instruction that it is to be used to reduce the capital debt portion of the home loan. Even if you only make the deposits two or three times a year, the results will be visible.

Paying Off Your Mortgage Earlier Than Scheduled - Part 1

Jan 5, 2023 at 12:00pm

The homeowner saves a lot of money which otherwise goes towards servicing interest on the principal debt, when settling the mortgage earlier than originally scheduled. Early settlement results in shaving off years of mortgage repayments.

ADU Grant Administrative Fees

Dec 23, 2022 at 12:00pm

When a homeowner is approved for the CalHFA’s ADU $40k Grant for predevelopment work, they will receive an award of $35,500 without the Ural Inspection Fee or $33,000 if the Ural Inspection Fee is utilized to pay a licensed professional to get the project back on track.

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Progress

As a social enterprise, HPP CARES CDE has achieved significant and wide-ranging accomplishments in recent years. Working under the National Coalition for Equities' (NCFE) umbrella, our focus has been on advocating for a strong community voice among federal and state regulators and major private sector corporations. We've dedicated ourselves to addressing public policy issues, particularly those related to wealth and income inequality impacting affordable homeownership and small business growth.

Through collaborative efforts with NCFE, HPP CARES CDE has expanded outreach initiatives, leading to increased corporate social responsibility and consumer protection awareness. Our endeavors have enabled us to engage with a broader audience, forge partnerships with numerous companies, and engage with regulators, all with the goal of supporting deserving individuals in achieving sustainable homeownership, fostering successful small businesses, protecting consumers, and empowering California communities.

At HPP CARES CDE, we are committed to championing opportunities for people of color to become integral partners in our mission to reduce income and wealth inequality, thereby contributing to the creation of stronger futures for all minority groups.