Historic $25B loan fund to rescue cash-strapped California homebuyers is approved —but nobody knows how it works

“Historic $25B loan fund to rescue cash-strapped California homebuyers is approved —but nobody knows how it works”

Proposition 37 will let the California Housing Finance Agency borrow as much as $25 billion from private investors and loan it to middle-class Californians who don’t have the cash for a 20% down payment.