KeepYour HomeCalifornia | Newsletter

Keep Your Home California has Preserved $2.5 Billion in Economic Activity  
For every dollar issued to help homeowners through the California Housing Finance Agency's (CalHFA) Keep Your Home California homeowner assistance program, a total of two dollars worth of economic activity is preserved within the state's economy, according to a new report from the University of South Carolina's Darla Moore School of Business.

The Economic Impact of Keep Your Home California: A Statewide and Regional Analysis indicates the federally-funded Keep Your Home California has a far-reaching effect on the California economy beyond helping homeowners, preserving $2.5 billion worth of economic activity during its first six years by preserving jobs, tax revenue, and property values of nearby homeowners.

"A strong and vibrant housing market is a critical component of any healthy economy," said report author Dr. Joseph C. Von Nessen, a Research Economist at the University of South Carolina, Darla Moore School of Business and an expert on similar government programs. "Housing is not only one of the largest sectors of the economy, but individuals who live in stable housing environments also experience many economic and social benefits."

Statewide, Keep Your Home California preserved more than $1.1 billion in property value, saved about 8,100 jobs which generated $441 million in employee income, and protected $81.3 million in tax revenue from early 2010 through 2015, according to the report.

Click here to read the entire press release
2016 Year in Review
In 2016, Keep Your Home California received additional funding from the US Department of the Treasury to help more homeowners across the state and the program was extended for three years until December 31, 2020. By the end of the year, over 10,000 households received assistance from one of the five programs. In total, $342 million in assistance was provided to struggling California homeowners. Below are some of the highlights from 2016, as well as a funding comparison for each program from 2015 to 2016.
Funding Comparison :


The team at Keep Your Home California is always evaluating ways to improve the program so we can continue to help Californians avoid as many preventable foreclosures as possible. We are proud of what was accomplished in 2016, but we know there are many more households that still need our assistance. As we enter the new year, we are committed to finding innovative ways to enhance the program and look forward to more exciting developments in 2017.  

(as of Jan. 26, 2017)

Homeowners Assisted
Total Amount Distributed
Unemployment Mortgage Assistance
Principal Reduction Program
Mortgage Reinstatement Assistance Program
Reverse Mortgage Assistance Pilot Program
Transition Assistance Program
Total Program
Funds Allocated
Recent Blog Post:

Keep Your Home California expands Reverse Mortgage Assistance Pilot Program
Change can be good, especially when it involves coming to the aid of a struggling homeowner.

Keep Your Home California has expanded its Reverse Mortgage Assistance Pilot Program, allowing more senior homeowners at risk of foreclosure because of past-due property expenses to qualify for as much as $25,000 in assistance.

The pilot program is now available to low and moderate income senior homeowners who have proprietary reverse mortgages. Previously, only homeowners with a Federal Housing Administration (FHA) Home Equity Conversion Mortgage (HECM) were eligible for program consideration.

Keep Your Home California also recently streamlined the counseling process, allowing homeowners to receive the mortgage assistance much faster.

Read More    
Success Story: Marion W.
'I dipped into my retirement to make ends meet'

Marion W. had spent 15 years working in pharmaceutical sales in Southern California and felt it was time to buy a home.

To find something in his budget, Marion sought a house going through a short sale. After submitting the winning bid, Marion was already drawing up ways to upgrade the neglected house.

But those plans would have to wait. The renters refused to leave and while he didn't know at the time, a lengthy court battle was about to begin.

Marion moved in with his partner while the process to get the renters out of his home got underway - and Marion figured the issue would be resolved soon. It wasn't, as he could not move in until after 8 months of uncertainty and an exhausting court battle.

Read More
Monthly Question & Answer

Q: I received my last unemployment benefit from California's Employment Development Department about 15 days ago, can I still receive Unemployment Mortgage Assistance benefits from Keep Your Home California?
A: The homeowner must have received unemployment benefits from California's Employment Development Department within 30 days of application for Keep Your Home California Unemployment Mortgage Assistance Program. If the homeowner is found eligible by Keep Your Home California, the homeowner may receive Unemployment Mortgage Assistance benefits for up to 18 months.
Water Saving Tips

Use the washing machine for full loads only to save water and energy.

Installing a water-efficient clothes washer saves 16 Gallons/Load.

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 
February 2, 2017
9:00am - 11:00am
First Time Homebuyer Programs and Current Homeowner Assistance
Vista, CA
February 2, 2017
11:00am - 3:00pm
All Veterans Career Fair
Riverside, CA
February 2, 2017
1:30pm - 3:30pm
First Time Homebuyer Programs and Current Homeowner Assistance
Chula Vista, CA
February 4, 2017
2:00pm - 6:00pm
Foreclosure Prevention Event
Riverside, CA
February 4, 2017
8:30am - 5:30pm
Homebuyer Education Workshop
Ventura, CA
February 16, 2017
11:00am - 3:00pm
Veterans Job Fair
Sacramento, CA
February 18, 2017
8:00am - 4:30pm
Homebuyer Education Workshop
Los Angeles, CA
February 18, 2017
8:30am - 4:30pm
Homebuyer Education Workshop
Oxnard, CA
February 22, 2017
6:00pm - 7:30pm
Home Retention Clinic
Los Angeles, CA
March 2, 2017
11:00am - 3:00pm
Veterans Job Fair
San Diego, CA
March 9, 2017
11:00am - 3:00pm
Veterans Job Fair
San Jose, CA

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