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The Altadena Rebuild Fund is designed to provide flexible financing solutions for homeowners and property owners facing funding shortfalls during the reconstruction process. Under the program, eligible borrowers may access between $50,000 and $250,000 in verified rebuild gap financing to bridge the difference between available resources and the total cost required to complete a rebuilding project.

Financing Structure

The financing is structured with long-term affordability in mind, offering repayment terms of up to 20 years under the current program design. To reduce the financial burden during the critical reconstruction period, the first 60 months of the loan are deferred, allowing borrowers to focus their resources on completing construction and returning to stable housing without immediate repayment obligations.

Interest Rates

Interest rates are intended to remain below prevailing market rates and will be established based on the final capitalization and funding structure of the program. Financing will be secured through a subordinate deed of trust or another approved security instrument, ensuring compatibility with existing mortgage and financing arrangements.

To promote responsible use of funds and ensure alignment with project objectives, loan proceeds will be disbursed in a controlled manner and tied directly to the approved rebuild plan. Funds will be released based on documented project needs and construction progress, helping to ensure that financing supports the successful completion of the rebuilding effort while maintaining accountability and program integrity.

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