Tag Archives: mortgage aid

Help For Jobless Homeowners

California homeowners who receive jobless benefits can get mortgage aid through a $2 billion government program.

Keep Your Home California offers as much as $3,000 a month to qualified residents for up to 12 months. The benefit previously ended after nine months and was recently extended.

The extension can be particularly helpful to property owners whose unemployment aid will run out by year’s end, state officials said.

Funded by federal money, Keep Your Home California provides financial relief to households at risk of slipping into the foreclosure process. The goal is to catch homeowners up on mortgage payments, help them relocate after a short sale and cut their mortgage principal.

Unemployment aid has been the most-used aspect of Keep Your Home California among San Diego County homeowners. More than 80 percent of the 2,200 San Diegans who have benefited from the overall program to date received unemployment aid — representing $23.6 million of help. Statewide, that share is lower, at 68 percent.

Program qualifications include having a hardship, having a mortgage balance of $729,750 or less, not being in the foreclosure process. For a full list, click here. Want to talk to someone at Keep Your Home California? Call (888) 954-5337.

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More lenders added to Calif. mortgage-aid program

The number of loan servicers taking part in a state mortgage-aid program continues to grow roughly one year after its launch, said officials from the California Housing Finance Agency.

The Keep Your Home California program, which began in February, now has 55 participating mortgage servicers, up from 21 in June.

The growing list is important because the $2 billion in aid, which aims to help low- to moderate-income homeowners, is contingent on lender participation. Homeowners send their monthly mortgage payments to loan servicers.

In all, 10,000-plus borrowers in California have either received funding or are about to get assistance from all four subprograms, officials said. The latest figures from the housing finance agency show 635 households in San Diego County have benefited from the program. That translates to almost $13 million in assistance.

Info: Call 888-954-KEEP(5337) between 7 a.m. and 7 p.m. Monday through Friday, and 9 a.m. to 3 p.m. on Saturdays. Visit: www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org.

Read more at: http://www.utsandiego.com/news/2012/jan/10/more-lenders-added-calif-mortgage-aid-program/

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Mortgage Aid Open to More Calif. Borrowers

A state-run program that helps homeowners struggling to pay their mortgages now has broader eligibility guidelines, opening up help to borrowers who did “cash-out” refinances and own multiple properties, said California Housing Finance Agency officials on Monday.

The mortgage-aid effort, called Keep Your Home California, so far has helped close to 8,000 low- and moderate-income households that are behind on loan payments or close to default, according to agency leaders.

Read more at: http://www.signonsandiego.com/news/2011/nov/08/mortgage-aid-open-more-calif-borrowers/

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