FEBRUARY 2018
KeepYour HomeCalifornia | Newsletter

Keep Your Home California Celebrates Seven Years of Helping Homeowners
This February marks the seven year anniversary of the Keep Your Home California programs. In February 2011, the four first-mortgage programs were fully launched and assistance was made available to qualifying California homeowners.

Since that time, nearly 80,000 California households have qualified for almost $2 billion in mortgage payment assistance, in order to prevent foreclosure.

Along the way, there have also been several changes to the Keep Your Home California programs in order to meet the needs of struggling California homeowners. One thing that has not changed since program inception is our goal to stabilize communities across the state by helping homeowners stay in their homes.

While the economic recovery in California is in a much better place today than it was when the program was launched, there are still many people across the state who are struggling with their mortgage payments due to a financial hardship.

We will continue to do what we can to raise awareness about the programs - as long as there is still funding available. Nearly 95% of available program funding has been provided to qualifying homeowners, so we know the program is on the "home stretch."

If you know someone struggling with their mortgage payments, please share this newsletter with them and encourage them to apply while funds remain. You, too, may be able to help someone Keep Their Home!

Keep Your Home California Program Summary Guidelines    
Oftentimes, homeowners ask our representatives where they can find more detailed information about the four Keep Your Home California programs. The "Summary Guidelines" for each of the four first-mortgage assistance programs are posted on the Programs webpage.

The Summary Guidelines can be helpful tools for homeowners as they seek to better understand the different programs. Information such as eligibility criteria, the structure of the assistance, program allocations, duration, and program goals can all be found in the Summary Guidelines.

Please click on the links below to see the Summary Guidelines for each of the Keep Your Home California programs.
Funding
(as of Feb. 26, 2018)

Programs
  
Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
 50,789     
$934,182,780.68
Principal Reduction Program
 12,832     
$793,686,324.61
Mortgage Reinstatement Assistance Program
 14,244     
$219,304,898.40
Reverse Mortgage Assistance Pilot Program
752
$9,642,693.98
Transition Assistance Program
    1,072     
$3,809,994.94
Total Program
Funds Allocated
   79,689     
$1,960,626,692.61
Tax Season Questions and Answers
Tax season is upon us, which means homeowners who qualified for Keep Your Home California assistance in 2017 need information about the program and may have questions.

The Frequent Questions webpage addresses several of the most-asked questions from homeowners regarding the program and taxes. Included below is the latest Keep Your Home California blog, which has more information relevant to homeowners who qualified for the program in 2017. Also, a recently added tax-related question from the
"1098-MA Tax Statement" section of the Frequent Questions webpage is featured in the Monthly Question & Answer section of this newsletter.

All 1098-MA statements from Keep Your Home California were mailed out by January 31, 2018. If you have not yet received your statement and/or lost the statement that was sent to you, please call the Keep Your Home California processing center at 888-907-9959 to obtain a duplicate copy. 
Recent Blog Post:

Got tax questions? Keep Your Home California has some answers, but refers most to professional tax preparers
It's beginning to feel like crunch time.

You've seen the ads for the national tax preparers, the documents have arrived in the mail, and the calendar flips just a little faster this time of the year.

Welcome to tax season. Tax Day (April 17, 2018) is right around the corner.

It's also when many soon-to-be tax-filing homeowners begin calling, emailing or posting on social media their tax-related questions to Keep Your Home California. Our counselors know a lot about the free mortgage-assistance program, but they are not tax advisers.

We let professionals - accountants, tax preparers or even software - handle tax-related questions. It's our policy and the law. Only tax professionals, folks who have completed numbers-crunching courses and feast on figures, are allowed to provide tax advice.

Read More    
Success Story: Joe M.
'I thought I would have to pay for some kind of service'

Homeowner Joe M. has been an active community leader for a quarter-century - in his career and as a volunteer.

So, it only seems fitting that when an active community member who assists others facing challenges needs a little help, he receives assistance as well.

"I've never asked for help my entire life," says Joe, who lives in the Central Valley, one of the hardest-hit economic regions of the state - and the nation."I never thought this would happen to me."

But when his income was cut in half because of a lack of funding for a program he worked on, Joe started looking around at some options.

"I thought there was no way I would be able to keep this house," Joe says. "I was close to surrendering my house. Everything I tried didn't work."

Read More
Monthly Question & Answer

Q: I received two or more 1098-MA tax statements from Keep Your Home California this year - Why did this happen? And, what should I do?
A: Keep Your Home California is required to provide you and the IRS with the dollar amount of financial assistance your loan servicer received on your behalf during the current tax year. If you received more than one 1098-MA tax statement it is because you obtained program assistance more than once during the tax year. This can occur when a homeowner receives financial assistance from more than one unique program (Example: Unemployment and Mortgage Reinstatement assistance were provided) OR a homeowner obtained assistance more than once from the same program (Example: Unemployment assistance was provided as a result of two or more unique, approved applications).

Homeowners who received more than one 1098-MA tax statement from Keep Your Home California are required to use ALL 1098-MA tax statements when preparing their taxes as the total of all 1098-MA's represents the full amount of financial assistance provided during the current tax year.

See more frequently asked questions 

Water Saving Tips

When you are doing dishes, soak pots and pans instead of letting the water run while you scrape them clean.


For more tips on what you can do to save water, please visit the Save Our Water website.
To see all Servicer Scorecards, please visit the Participating Servicers webpage.
Upcoming Events 
March 3, 2018
8:30am - 5:30pm
Homebuyer Education Workshop
Ventura, CA
March 6, 2018
10:00am - 1:00pm
Senior and Veteran Fraud Prevention Fair
Redding, CA
March 7, 2018
6:00pm - 8:00pm
Foreclosure Prevention Workshop
San Rafael, CA
March 17, 2018
8:00am - 4:30pm
Homebuyer Education Workshop
Los Angeles, CA
March 17, 2018
8:30am - 4:30pm
Homebuyer Education Workshop
Oxnard, CA
March 20, 2018
6:00pm - 6:45pm
Free Online KYHC Workshop
Available Statewide Online
March 21, 2018
5:00pm - 6:30pm
Home Retention Clinic
Los Angeles, CA
March 24, 2018
9:00am - 5:00pm
Homebuyer Education Workshop
Riverside, CA
March 24, 2018
9:00am - 5:00pm
Homebuyer Education Workshop
National City, CA
March 28, 2018
9:00am - 5:00pm
Homebuyer Education Workshop
Riverside, CA
March 31, 2018
10:00am - 4:00pm
11th Annual Springfest Festival
West Hills, CA



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