High Demand Pauses California's Homeownership Assistance Programs.

California's new mortgage relief program for first-time home buyers, the "California Dream for All Shared Appreciation Loan" program, has been paused due to overwhelming demand less than two weeks after it began. The program, aimed at lower- and middle-income borrowers, was designed to provide loans amounting to 20 percent of a home’s purchase price. The $300 million allotted for the program was expected to last for months, but instead, it became evident within days that the money would run out almost immediately. The program was helping 2,300 Californians buy their first homes, and its pause has left many applicants in limbo.