Keep Your Home California is a federally funded non-profit that works to help distressed home owners in low to middle income brackets. If you are experiencing financial hardship and are behind or in danger of being behind on their mortgage payments this may help you to clear the hurdle.
They have four programs:
- Unemployment Mortgage Assistance Up to $3,000 per month towards your mortgage expenses for as long as 9 months.
- Mortgage Reinstatement Assistance Help to catch up on your payments so your mortgage can be reinstated. Allows up to $25,000 to cover mortgage principal, interest, taxes, insurance and any HOA dues that are delinquent.
- Principal Reduction Program For home owners who are experiencing financial hardship and have had a severe decline in their home’s value, this program offers up to $100,000 to pay down your principal balance.
- Transition Assistance This gives up to $5,000 in a one time payment to provide money for rent, security deposit, and moving expenses.
The basic requirements are that you
- Are occupying the home as your primary residence
- Have a financial hardship
- Your loan servicer is registered with them (See the participating lender list here.)
- Your got your mortgage prior to January 1, 2010
- The amount owed is less than $729,750.00
- Your income does not exceed the maximum determined for your county (For residents of Sonoma County the maximum income is currently $97,800.00.)
Your can find them on the web at www.KeepYourHomeCalifornia.org
And read their blog here.