MARCH 2015
KeepYourHomeCalifornia | Newsletter

2014 Fourth Quarter Report

The 2014 fourth quarter "Quarterly Performance Data Report" was recently posted on the Keep Your Home California website and the charts on the Reports and Statistics webpage were updated with the new information. The report describes recent progress for Keep Your Home California, as we closed out 2014. Some of the highlights from the report include:

  • A total of $76,186,320 in funding was provided to homeowners in the fourth quarter of 2014. This means that each quarter of 2014 ranked as one of the top five quarters in the amount of assistance provided to homeowners since the program's inception.

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  • Overall, ninety-nine (99) percent, ninety-eight (98) percent and ninety-three (93) percent of the homeowners still own their homes 6, 12 and 24 months, respectively, after receiving KYHC assistance.
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  • The Principal Reduction Program pipeline experienced steady improvement. The median monthly payment was reduced $277 per month, from $1,468 to $1,191; an almost 21% reduction. Servicer participation in the Principal Reduction Program also grew by 22% in 2014.

Keep Your Home California Helps 50,000 Homeowners

In early March, we reached an important milestone - 50,000 households helped through one of the Keep Your Home California programs! While we are proud of helping over 50,000 California homeowners who experienced a financial hardship avoid foreclosure, we know there is still a lot of work to be done and many more homeowners who are struggling with their mortgage payments. There have been recent program changes - and more are on the way in the near future - that should allow us to help even more homeowners. If you or someone you know has suffered a financial hardship and is having a difficult time making mortgage payments, call 888-954-KEEP (5337) or visit our website to take the "Eligibility Quiz" to see if you qualify.

Commercials Translated into Five Different Languages

Keep Your Home California commercial in Vietnamese
Keep Your Home California commercial in Vietnamese
Funding
(as of March 26, 2015)

Programs
  
Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
35,364
$502,427,147.94
Principal Reduction Program
5,416
$325,709,869.52
Mortgage Reinstatement Assistance Program
8,687
$116,807,890.52
Transition Assistance Program
843
$2,996,389.47
Total Program
Funds Allocated
50,310
$947,941,297.45
Recent Blog Post:
Keep Your Home California website answers some tax-related questions, but encourages homeowners to seek tax professionals before filing their returns

It happens this time every year.

 

The commercials begin, the documents and statements arrive in the mail, and the clock seems to tick just a little faster.

 

Welcome to tax season.  

 

It's also when we get quite a few calls and emails from homeowners who have been helped by Keep Your Home California. Now, we know a lot about our free mortgage-assistance program and many other mortgage-related topics, but when it comes to personal income taxes... Read More 

Success Story: Danielle B.

Plummeting crude oil prices hurt many oil companies in the Bakersfield region.

 

Unfortunately, Danielle B. is one of those employees who worked for an oil company. She says her company started laying off workers earlier rather than later.

 

"I didn't know what I was going to do after I lost my job," Danielle says. Read More 

  

Monthly Question & Answer

A: Yes, Keep Your Home California will continue to pay Unemployment Mortgage Assistance benefits to homeowners even if a homeowner exhausts their California Employment Development Department benefits during the time of Unemployment Mortgage Assistance. Keep Your Home California will stop benefit payments if the homeowner becomes fully re-employed or if it determines that the home is listed for sale or the homeowner is actively negotiating a Short Sale or Deed in Lieu of foreclosure with their Servicer.

 

See more frequently asked questions

To see all Servicer Scorecards, please visit the Participating Servicers webpage.
April 1, 2015
10:00am - 11:00am
Unemployment Mortgage Assistance Clinic
Los Angeles, CA
April 4, 2015
10:00am
- 12:00pm
Mortgage Assistance Clinic
Los Angeles, CA
April 8, 2015
10:00am - 11:00pm
Unemployment Mortgage Assistance Clinic
Los Angeles, CA
April 11, 2015
9:00am
- 10:00am
First Time Home Buyer Course
Oakland, CA
April 15, 2015
10:00am - 11:00pm
Unemployment Mortgage Assistance Clinic
Los Angeles, CA
April 18, 2015
8:30am - 4:30pm
Homebuyer Education Workshop
Oxnard, CA
April 22, 2015
10:00am
- 11:00am
Unemployment Mortgage Assistance Clinic
Los Angeles, CA
April 25, 2015
9:00am - 12:00pm
Health & Housing Resource Fair
Anaheim, CA



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www.KeepYourHomeCalifornia.org - 888.954.KEEP(5337)