MAY 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.
 
Keep Your Home California recently put out a press release announcing that the program was entering the final weeks. The press release included the following statement:
 
"Keep Your Home California has been a very effective program, helping homeowners deal with their financial challenges and avoid foreclosure as they get back on their feet," said Tia Boatman Patterson, Executive Director of the California Housing Finance Agency, which oversees the program. "California's economy has improved since the program started, but there are still many homeowners who could benefit from Keep Your Home California, so we want to continue to raise awareness about the available assistance as long as funds remain." 
 
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.
 
While it is disappointing to see Keep Your Home California end, we are heartened by the amount of assistance that has been provided to California homeowners in order to avoid foreclosure. Homeowners from all 58 counties have received funding and homeownership retention rates for qualifying applicants are high, with 94% of homeowners still in their homes 24 months after receiving Keep Your Home California assistance.  
 
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.  
 

Partner Agency Achievements for 2017   


Recently, Keep Your Home California held four regional meetings with all of our partner HUD approved housing counseling agencies. The meetings took place in Los Angeles, Riverside, Concord, and Fresno where agencies from the surrounding areas came together to discuss recent developments with the program.

At these meetings, agencies who had achieved outstanding performance metrics in 2017 were presented with certificates in recognition for their hard work. The following is a complete list of the agencies that were honored:  
 
100% of Clients Returned Documents
For working closely with homeowners, resulting in 100% of their clients who applied for Keep Your Home California returning required documentation.
100% of Clients Received a Homeowner Action Plan
For their outstanding counseling efforts to ensure 100% of their clients who applied for Keep Your Home California received a Homeowner Action Plan.
Submission Superstar
For being a "Submission Superstar" by helping 273 homeowners apply for Keep Your Home California; the most clients submitted from any partner agency in 2017. Submission Star
For being a "Submission Star" by helping hundreds of homeowners apply for Keep Your Home California in 2017.
Most Efficient Agency
For achieving the highest efficiency ratio for any Keep Your Home California partner agency in 2017. 100% Attendance
For having 100% attendance at all Keep Your Home California partner agency meetings, webinars, and conference calls in 2017.
Funding
(as of May 30, 2018)

Programs
  
Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
  51,997            
$971,203,782.39
Principal Reduction Program
  13,231             
$820,204,968.19
Mortgage Reinstatement Assistance Program
  14,697            
$228,329,365.25
Reverse Mortgage Assistance Pilot Program
     787
$10,199,553.21
Transition Assistance Program
    1,087            
$3,869,994.94
Total Program
Funds Allocated
           81,799             
$2,033,807,663.98
Recent Blog Post:

Transparency helps homeowners - and Keep Your Home California
Keep Your Home California is committed to openness and transparency, educating consumers, encouraging comments, and sharing the facts and figures of its free mortgage-assistance program.

It's been the promise from the first day of the federally funded program and remains more than seven years - and 81,500-plus homeowners - later.

The approach has allowed the state-managed program to succeed - and thrive. Comments, suggestions and, yes, even complaints have helped Keep Your Home California evolve and expand when needed.

Keep Your Home California's website is the foundation for the commitment to transparency. The website - redesigned, in part, to improve transparency in early 2013 - offers a lot of data on the program. Online visitors will find charts, graphics, an interactive map and quarterly reports.

Read More
Success Story: Sarrie P .
'There really is a government program to help homeowners'

Sarrie P. knows all about home. Her culture embraces the comfort, peace and warmth of home.

"You get a feeling of place," says Sarrie, whose family moved into their Bay Area house 15 years ago. "It's the first home we had in the U.S. when we immigrated here. It's where my daughter and two stepchildren grew up."

Her house is surrounded by fruit trees, is conveniently located near shopping, and within a great school district.

"For us, it's all about the roots," Sarrie says. "It's what we pass on to our children. It's our home."

So, when Sarrie lost her job in fall 2015, she was worried about making the monthly mortgage payment and losing her home. She asked her servicer about mortgage-assistance programs and was referred to Keep Your Home California.

Read More
Monthly Question & Answer
Q: If I become re-employed during the Unemployment Mortgage Assistance benefit period, am I required to immediately notify Keep Your Home California of my re-employed status?
A: Yes, if a homeowner becomes fully re-employed while they are receiving Unemployment Mortgage Assistance benefits they are required to contact Keep Your Home California in writing. Homeowners may contact Keep Your Home California Funding Department at Funding@KYHCA.org. Homeowners may also contact Keep Your Home California by phone at 888.954.KEEP (5337). Benefit assistance will end no later than 90 days from the date the homeowner notifies* Keep Your Home California that they have become fully re-employed and are no longer receiving EDD benefits. Failure to notify Keep Your Home California of your re-employment status as required will impact a homeowner's ability to receive additional assistance from any of the Keep Your Home California programs.

*Keep Your Home California works directly with California's Employment Development Department to determine a homeowner's employment status. If it is determined that a homeowner's unemployment benefits were terminated because they became fully re-employed at any time during the eighteen (18) month Unemployment Mortgage Assistance benefit period, and the homeowner failed to notify Keep Your Home California as required, Unemployment Mortgage Assistance benefit payments will be terminated immediately.
  
Water Saving Tips


Install aerators on the kitchen faucet to reduce flows to less than 1 gallon per minute.


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 2, 2018
11:00am - 3:00pm
SF Housing Expo
San Francisco, CA
June 16, 2018
8:00am - 4:30pm
Homebuyer Education Workshop
Los Angeles, CA
June 16, 2018
8:30am - 4:30pm
Homebuyer Workshop
Oxnard, CA
June 20, 2018
5:00pm - 6:30pm
Home Retention Clinic
Los Angeles, CA
June 23, 2018
8:30am - 5:30pm
Homebuyer Education Workshop
Ventura, CA



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