JUNE 2018
KeepYour HomeCalifornia | Newsletter

Final Keep Your Home California Application Deadline: June 29, 2018      


All applications for Keep Your Home California assistance must be submitted by June 29, 2018, in order to be considered for funding.
 
Available program funding will soon be exhausted, which is why the program will no longer be able to accept applications after 7:00 pm on Friday, June 29, 2018. The Funding Usage Charts (pictured above), which are posted on the Reports and Statistics webpage, have been updated to reflect committed funds as well as funds already provided, in order to give visitors an accurate count of funds remaining.
 
All homeowners who submit an application to Keep Your Home California by June 29, 2018 will have their files processed to a resolution. Closing the program to new applicants will not adversely affect applications in-process.
 
More than 82,000 households have qualified for Keep Your Home California already; receiving over $2 billion total in mortgage payment assistance. We want to help as many homeowners as possible before the deadline - and you can help us make that happen.

If you know someone who is struggling with their mortgage payments due to a financial hardship, please encourage them to apply for Keep Your Home California assistance by June 29, before the program is no longer available.  
 

2018 First Quarter Report   

The 2018 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 began 2018. Some of the highlights from the report include:
  • Keep Your Home California provided over $75 million in assistance during the first quarter of 2018. This marked the nineteenth (19th) consecutive quarter that the program surpassed $75 million in assistance.
  • At the end of the first quarter, Keep Your Home California had funded more than $1.98 billion in benefit assistance - helping more than 75,700 unique homeowners prevent foreclosure of their homes. This represented 94% of the total Hardest Hit Fund program funds allocated to California.
  • Applicants approved in the quarter for the Principal Reduction Program (PRP) saw their loan balances and monthly mortgage payments reduced by approximately $53,000 and $218, respectively.
 
Funding
(as of June 21, 2018)

Programs
  
Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
  52,142             
$971,869,151.47
Principal Reduction Program
  13,314              
$825,637,862.62
Mortgage Reinstatement Assistance Program
  14,811             
$230,576,443.02
Reverse Mortgage Assistance Pilot Program
     788
$10,268,714.66
Transition Assistance Program
    1,088             
$3,874,994.94
Total Program
Funds Allocated
           82,143              
$2,042,227,166.71
Recent Blog Post:

Keep Your Home California will stop accepting applications June 29 - homeowners should apply immediately
Keep Your Home California, the free mortgage-assistance program that has helped over 82,000 homeowners, is entering its final weeks. All applications for Keep Your Home California assistance must be submitted by June 29, 2018, in order to be considered for funding.

Homeowners faced with a financial hardship and worried about losing their home are encouraged to apply as soon as possible. Available program funding will soon be exhausted, which is why the program will no longer be able to accept applications after 7 p.m. Friday, June 29, 2018.

All homeowners who submit an application to Keep Your Home California by June 29 will have their files processed to a resolution. Closing the program to new applicants will not adversely affect applications in-process.

The federally funded program helps California homeowners who are dealing with a hardship - such as a cut in hours or pay, a job loss, divorce, death in the family, or extraordinary medical bills that are affecting a homeowner's finances - and faced with the possibility of losing their home to foreclosure.

The state-managed program has been a big success, helping more than 82,000 homeowners - or the equivalent of everyone in Buena Park in Southern California or Redwood City in the Bay Area. The demand for the program has remained strong, even with a much-improved economy and housing market during the past couple years.

Read More
Success Story: Camila A.
'It could have been snatched from me at any time'

Camila A. is a hard-working, high-achieving woman on a mission.

"I've always been one of those people who wants to reach her goals," Camila says.

So, when Camila decided she wanted to buy a house, she was focused on making sure it happened.

She had a full-time job that often demanded more than full-time hours. Yet she also had a second job to help save for the down payment. "I worked tremendously hard," she says.

Her hard work - and patience - paid off.

Read More
Monthly Question & Answer
Q: Will my application be closed out/deemed ineligible if it's still in process for eligibility review when funds are gone?
A: Homeowners who successfully complete their KYHC counseling session and have applications in process as of the program closure date (June 29, 2018) will continue to be reviewed for assistance. Closing the program to new applicants will not adversely impact applications in process. Each file will be reviewed on the merits of its contents and processed to a resolution (e.g., qualified, ineligible, or withdrawn).
  
Water Saving Tips

Plant drought-resistant trees and plants.
Save: 30- 60 gallons/each time you water/1,000 sq. ft.


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.
June 23, 2018
8:30am - 5:30pm
Homebuyer Education Workshop
Ventura, CA
June 23, 2018
10:00am - 2:00pm
Inland Empire Homeownership Fair
Riverside, CA



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