Homeowner Prevention: Federal assistance and “Keep Your Home California”
A new federally funded program is in place, under the banner of “Keep Your Home”. This is a foreclosure prevention program intended to help qualified homeowners who 1) own and occupy their home, 2) collect unemployment benefits from Employment Development Department (EDD), and 3)have a current loan balance under $729,750.00.
Up to $3,000 in monthly mortgage assistance is available to qualified unemployed homeowners for up to 9 months.
Funded by the U.S. Treasury’s Hardest Hit Fund®, eligibility is further based upon household income, and you loan must be serviced by one of the cooperating mortgage services. Participating Servicers include approximately 60 service providers, including Point Loma Credit Union, Wells Fargo, CitiMortgage and others.
Also, since relief efforts are evolving, re-check with your mortgage provider.
To apply for “Keep Your Home California”, call 888 982 5337.