NOVEMBER 2017
KeepYour HomeCalifornia | Newsletter


Earlier this month, Keep Your Home California implemented a change to the Unemployment Mortgage Assistance Program which affects homeowners who are already behind on mortgage payments at the time of their application. The Unemployment Mortgage Assistance Program provides monthly mortgage payment assistance to eligible homeowners who have experienced an involuntary job loss and are receiving California Employment Development Department (EDD) unemployment benefits.

Qualifying homeowners who are past-due on their first mortgage will have their loans brought current before their monthly mortgage payments begin through the program. This is an important change because in the past, the loan would still be delinquent at the conclusion of the homeowner's program assistance.

For example, if a homeowner was three months past-due (i.e., $6,000) at the time they began receiving monthly funding through the Unemployment Mortgage Assistance Program, they would still be three months past-due and owe the $6,000 once they returned to work and no longer needed program assistance. Under the new guidelines, the three month delinquency ($6,000) would be reinstated before the monthly payments through the program commenced, so the homeowner's mortgage will be current during and at the end of the time period they receive assistance.

The Unemployment Mortgage Assistance Program maximum remains unchanged at $54,000 and/or 18 months, whichever comes first. So, if a qualifying homeowner was $24,000 past-due and had monthly payments of $2,000, they would have the $24,000 reinstated first, then receive monthly payments for a maximum of 15 months, which would result in a total funding of $54,000.

This program change comes on the heels of various other changes Keep Your Home California announced recently. The September blog which details all of those changes has been re-posted in the "Recent Blog Post" section of this newsletter.

Salute to Veterans   

In honor of Veterans Day, Keep Your Home California and the California Housing Finance Agency have profiled on social media different veterans each day of the month in November. Staff members shared the stories of loved ones who served in the United States Armed Forces - and those stories were posted on Facebook and Twitter.

As November draws to a close, we wanted to share all the incredible stories we have gathered about individuals in all five branches of the military. You can find the complete collection of stories and photos in a Keep Your Home California Facebook photo album.

To all the brave men and women in the military, both veterans and active duty, THANK YOU for your service.

Call Center Holiday Hours 

The holiday season is upon us and in the coming weeks, the Keep Your Home California call center will be closed two days in observance of holidays.  
 
The call center will be closed on Monday, December 25, 2017 (Christmas Day) and on Monday, January 1, 2018 (New Year's Day). Regular business hours will resume on the Tuesday following each of the holiday closures.
 
You can find a complete list of the dates the call center is closed on our Before You Call webpage. 
Funding
(as of November 29, 2017)

Programs
  
Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
  49,681        
$897,834,308.20
Principal Reduction Program
  12,341         
$760,974,799.80
Mortgage Reinstatement Assistance Program
  13,750        
$210,553,195.40
Reverse Mortgage Assistance Pilot Program
     706
$9,151,191.20
Transition Assistance Program
    1,061        
$3,772,994.94
Total Program
Funds Allocated
    77,539         
$1,882,286,489.54
Recent Blog Post:

Major changes will help open the door for more homeowners to qualify for Keep Your Home California
Keep Your Home California is always looking to improve its free mortgage-assistance program to better help homeowners, from folks dealing with an unaffordable mortgage payment to those looking for work.

Quite often it's a minor change, a simple tweak that will affect few applicants and homeowners.

But sometimes, the changes deserve a bit more attention - including a blog post - and will help many homeowners, like those the program has recently implemented.

The most notable changes are with the Unemployment Mortgage Assistance Program. Keep Your Home California's most popular program covers the monthly mortgage payment for out-of-work homeowners eligible for unemployment benefits from the state Employment Development Department.

Keep Your Home California eliminated the $3,000 monthly mortgage payment limit connected to the Unemployment Mortgage Assistance Program. The program will now cover mortgage payments for qualifying homeowners - regardless of the amount - for as long as 18 months or a total of $54,000, whichever comes first.

Read More
Success Story: Jurline R.
'It's really changed our lives'

Jurline R. loves her cherished Southern California home and is deeply committed to keeping it - for herself, her daughter and three grandchildren.

But it hasn't always been easy. Like many California homeowners, too much of her income was going to her mortgage and she got behind on her payments. She applied multiple times for a loan modification from her mortgage servicer, but they were unable to come to terms on a modification that would work.

Then, Wells Fargo, her servicer, encouraged Jurline to apply for Keep Your Home California. The free mortgage-assistance program has helped more than 65,000 homeowners since February 2011, with many of them enjoying a cut in principal and lower monthly payments.

"I was really behind on my payments, and very stressed out," says Jurline, a social worker who found the silver lining with her unsuccessful loan modification applications. "When I applied for Keep Your Home California, I already had all the paperwork ready."

Read More
Monthly Question & Answer
Q: Am I eligible to receive assistance from Keep Your Home California if there is an open, active homeowner's insurance claim on the subject property?
A: A homeowner is ineligible to receive benefit assistance from Keep Your Home California if the open, active homeowner's insurance claim is due to total loss of the subject property or if the damage to the home was so extensive that it causes the home to be uninhabitable. Homeowners can apply for assistance after the insurance claim has been closed and they are occupying the home as their primary residence.
  
Water Saving Tips

Re-landscape with drought tolerant plants where lawn is not needed. Schedule irrigation to deliver only what plants need based on monitoring the soil moisture and/or evapotranspiration rate, which is available from the California Irrigation Management System (CIMIS).

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.
December 2, 2017
8:30am - 5:30pm
Homebuyer Education Workshop
Ventura, CA
December 2, 2017
9:00am - 2:00pm
Free Mortgage Help - Impacted by Recent Wildfires
Santa Rosa, CA
December 6, 2017
6:00pm - 7:00pm
Home Retention Clinic
Los Angeles, CA
December 9, 2017
8:30am - 4:30pm
Homebuyer Education Workshop
Oxnard, CA



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