Yikes...per an article that appeared in today's Sacramento Bee, the CalPERS Investment Committee will vote at their meeting in December whether or not to suspend their CalPERS Home Loan Program.
The CalPERS Home Loan Program is one offered to members of the retirement system (made up largely of State of California employees) as a benefit. I have worked with several home buyers who have used this program. One of the perks of the program is a long interest rate lock period, and the fact the buyer can borrow part of all of their down payment from their existing CalPERS retirement account.
If you are a CalPERS member and want to see this program continue, you may want to make it a priority to contact your CalPERS member representative immediately.
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