SEPTEMBER 2017
KeepYour HomeCalifornia | Newsletter

2017 Second Quarter Report
The 2017 second 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 reached the halfway point of calendar year 2017. Some of the highlights from the report include:
Keep Your Home California Program Updates Implemented in September    
Earlier this month, some important updates were made to two Keep Your Home California programs. The changes and the different programs they affect are listed below:
  • Unemployment Mortgage Assistance Program - Monthly mortgage payments in excess of $3,000 can now qualify for the program. Previously, the program had a $3,000 monthly cap in place, so payments over $3,000 were not eligible, unless the homeowners' servicers agreed to accept the difference in payment from the homeowner directly. The overall program cap of $54,000 remains in place, so homeowners can receive monthly payments for 18 months or until they reach their $54,000 cap, whichever comes first.
  • Principal Reduction Program - Interest-only loans are now eligible for the Principal Reduction Program. Before this change, interest-only loans were ineligible unless the interest-only feature had converted or modified to a fully amortizing loan.
  • Principal Reduction Program - Lien terms were updated for homeowners who receive assistance through the Principal Reduction Program. Previously, there were 5-year liens in place for homeowners who still had negative equity after receiving Keep Your Home California benefits and 30-year liens for homeowners who had positive equity post-assistance. Now, there is a third option: 10-year liens for homeowners whose post-assistance  loan-to-value (LTV) ratio is less than 100%, but greater than 80%.
Theses changes come on the heels of other changes to the Mortgage Reinstatement Assistance Program, Principal Reduction Program, and Reverse Mortgage Assistance Pilot Program, which were implemented in August. You can read more about all of the changes over the course of the past two months in the latest blog.
 
You can find more information about all five of the Keep Your Home California programs, including the Summary Guidelines for each program, on the Programs webpage.
Radio Interviews About Keep Your Home California Posted on the Website
Within the past few months, Keep Your Home California's Maribel Gonzalez and Steve Gallagher have been featured on various radio programs across the state.
 
They have been discussing details about the program, providing updates on the results thus far and sharing information about the impacts Keep Your Home California has had both on the state and the regions in which they were interviewed.
 
Depending on the stations and availability in the region, the interviews were conducted in English, Spanish, or both. All of the interviews that have taken place over the past few months are posted on the News and Media webpage and can be found, listed by media market, below.
Funding
(as of Sep. 28, 2017)

Programs
  
Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
 48,707   
$862,901,016.20
Principal Reduction Program
   11,984     
$738,742,264.85
Mortgage Reinstatement Assistance Program
    13,451      
$204,630,935.01
Reverse Mortgage Assistance Pilot Program
695
$8,972,516.19
Transition Assistance Program
      1,051      
$3,737,994.94
Total Program
Funds Allocated
    75,888     
$1,818,984,727.19
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: Sally S.
"I've fallen through the cracks"

If video indeed killed the radio star, then Amazon and big-box outlets did the same to national retail-store chains.

"I lost my industry," says Sally S., a homeowner in Southern California. "We've lost our retailers."

With fewer folks shopping in department stores, finding a job has been tough for Sally, a former sales merchandiser, manager and sales vendor representative for several companies and suppliers in the retail industry.

"I've been struggling for a very long time; every day is a challenge," she says. "You lose your job, your medical, your 401(k) is stolen ... It's been an avalanche of things."

Read More
Monthly Question & Answer

Q: How does Keep Your Home California calculate the Unemployment Mortgage Assistance benefit award that is shown on my Deed of Trust?
A: The Unemployment Mortgage Assistance award amount that is shown on the Deed of Trust is calculated at the time of approval by multiplying the monthly mortgage payment by the number of months of assistance available. Homeowners who have never previoulsy received assistance are eligible for a maximum of eighteen (18) months of assistance.

Example: Mortgage payment is $1,500 X 18 months = $27,000 in benefits.
  
Water Saving Tips

When washing dishes by hand, don't let the water run. Fill one basin with wash water and the other with rinse water.

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 
October 3, 2017
1:00pm - 5:00pm
Community Resource Fair
Huron, CA
October 7, 2017
9:00am - 2:00pm
Successful Aging Expo
Long Beach, CA
October 7, 2017
2:00pm - 5:00pm
Foreclosure Prevention Event
Riverside, CA
October 10, 2017
9:00am - 1:00pm
Community Resource Fair
San Joaquin, CA
October 12, 2017
9:00am - 12:00pm
Yolo County Senior Resource and Crime Prevention Fair
Woodland, CA
October 12, 2017
11:00am - 3:00pm
Veterans Job Fair
March AFB, CA
October 19, 2017
1:00pm - 5:00pm
Community Resource Fair
Parlier, CA
October 21, 2017
8:00am - 4:30pm
Homebuyer Education Workshop
Los Angeles, CA
October 21, 2017
8:30am - 5:30pm
Homebuyer Education Workshop
Ventura, CA
October 21, 2017
8:30am - 4:30pm
Homebuyer Education Workshop
Oxnard, CA
October 21, 2017
9:00am - 3:00pm
2017 Military Women's Appreciation Day
Sacramento, CA
October 25, 2017
6:00pm - 7:30pm
Home Retention Clinic
Los Angeles, CA
October 28, 2017
9:00am - 1:00pm
Community Resource Fair
Sanger, CA
October 28, 2017
9:00am - 1:00pm
Free Housing Resource Fair
Westminster, CA



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