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 conclude the first half of 2015. Some of the highlights from the report include:
Making Home Affordable Webinar on 10/27
Keep Your Home California will be featured during the October 27, 2015 Making Home Affordable (MHA) webinar "Mortgage Assistance for California Homeowners." The webinar will cover an overview of the five programs including recent program changes, results to date, and a discussion about Keep Your Home California's future.
To register for an upcoming MHA webinar, please click here.
Hope Now Event Coming to California
HOPE NOW is partnering with Springboard and HomeStrong USA to host an event in La Mirada on October 22, in an effort to provide free mortgage help to homeowners. Several mortgage servicers and non-profit HUD approved housing counseling agencies will participate in the event. Certified Keep Your Home California housing counselors will also be onsite to help interested homeowners apply for the program.
If you would like more information about the event on October 22 or the other free community events across the state, please visit the Calendar of Events webpage.
League of California Cities Shares Information on Keep Your Home California
On September 25, the League of California Cities posted on its website an article about Keep Your Home California. Cities across the state have been valuable partners in raising awareness about the programs since we launched in February 2011. We appreciate the League of California Cities sharing updated information about the program.
"Homeowners Can Qualify to Receive up to $100,000 In Mortgage Assistance through Keep Your Home California"
Despite the much-better economic outlook and job growth, many of the state's homeowners continue to struggle with their mortgage payments.
That is where Keep Your Home California comes in, a free mortgage-assistance program, which is helping low and moderate income homeowners avoid foreclosure and remain in their homes.
Keep Your Home California was established under the U.S. Treasury Department's Hardest Hit Fund. As part of this federally funded program, California was allocated nearly $2 billion to help eligible low and moderate income homeowners avoid preventable foreclosures. Since the program's inception in February 2011, Keep Your Home California has provided over $1.1 billion in assistance to more than 56,000 California households, each facing a serious financial hardship.
Keep Your Home California helps homeowners with mortgage payments
When a big bank closed a local service center, Edith and dozens of other employees who owned homes were suddenly without work and wondered how to keep their homes.
Cash-strapped homeowner Carrie and her husband got behind on their mortgage payments when he lost his construction job.
Frank battled health issues and hefty medical expenses, and, to make matters worse, his longtime employer closed the plant where he worked. His one-time affordable mortgage was now an impossible-to-make payment.
Keep Your Home California-the state's free mortgage-assistance program - has helped all three and more than 55,000 other financially struggling low- to moderate-income homeowners during the past four years.
Success Stories: Reverse Mortgage Assistance Pilot Program
We have added a section to the Reverse Mortgage Assistance Pilot Program webpage to show the stories of senior homeowners who have qualified for the program. The program was launched in February and so far 177 homeowners have qualified for nearly $2 million in assistance. You can read the stories of three of those homeowners on the website or by clicking below:
A: Homeowners who are actively participating in a HAMP may be eligible for Principal Reduction Program assistance from Keep Your Home California, provided the HAMP has become permanent. The active HAMP participation period spans from the time a homeowner has made at least one trial payment until five (5) years after their permanent HAMP date.
A homeowner that is actively participating in a HAMP trial payment plan, which includes those who are not yet in a permanent HAMP, are
ineligible for Principal Reduction Program consideration. The non-permanent HAMP period spans from the first trial payment until the loan modification has been fully executed. Homeowners in active Proprietary trial payment plans are eligible for consideration.
