Chau Bill To Provide Downpayment Assistance For Homebuyers Signed By Governor

Sacramento – Today, Governor Brown signed into law Assembly Bill (AB) 984, authored by Assemblymember Ed Chau (D-Monterey Park), which makes a number of important changes to the California Housing Finance Agency’s (CalHFA) statutes.  AB 984 gives CalHFA the authority to directly fund downpayment assistance loans done in conjunction with Federal Housing Administration (FHA) first mortgages and it states that downpayment assistance loans do not need to be repaid upon the sale or refinance of the home if the home is insured by an FHA first mortgage.

Assemblymember Chau Hosted District Office Open House

Monterey Park – On Saturday, July 20, 2013, Assemblymember Ed Chau (D-Monterey Park) hosted an open house at his new district office. Community leaders, friends, and neighbors attended this event to learn about programs and services that are available to them, while getting to know the Assemblymember and his staff. Assemblymember Chau also gave a brief update on his legislative priorities for the year.

Legislation Protecting the Elderly Against Finanical Abuse Clears Legislative Hurdles

SACRAMENTO -- Two bills authored by Assemblymember Ed Chau (D-Monterey Park) to strengthen California's elder financial abuse laws cleared key legislative hurdles this week. Assembly Bill (AB) 381, which would allow the courts to award attorney's costs and fees to seniors who were victims of elder financial abuse, passed the Assembly Floor and now awaits further review by the Governor. AB 477, which would require notaries public to report instances of suspected elder financial abuse, passed the Senate Judiciary Committee and now awaits further review by the Senate Appropriations Committee.

Chau Bill to Provide Down Payment Assistance for Homebuyers Clears Senate

Sacramento – Assembly Bill (AB) 984, authored by Assemblymember Ed Chau (D-Monterey Park), passed the State Senate on a 38-0 vote. This bill makes a number of important changes to the California Housing Finance Agency’s (CalHFA) statutes. Specifically, it gives CalHFA the authority to directly fund down payment assistance loans done in conjunction with Federal Housing Administration (FHA) first mortgages. Furthermore, it states that down payment assistance loans do not need to be repaid upon the sale or refinance of the home, if the home is insured by an FHA first mortgage.