Who You Gonna Call?

Is your home loan amount too high, and your home value too low? Who you gonna call?

Keep Your Home California. (Get your loan amount reduced).

Are you on Unemployment and struggling with your house payment? Who you gonna call?

Keep Your Home California. (Get $3,000/month to help with payments).

Are you behind on your house payments because of a financial hardship? Who you gonna call?

Keep Your Home California. (Get money to bring back-payments current).

Are you a short-sale seller and need money to move? You know who to call.

Keep Your Home California. (Get $5,000 to help with relocation expenses).

Keep Your Home California has money and they just changed their rules. Now more people can get help, and they can get more money. The program is state-run and is funded by Federal money- $2 billion- and has been up and running since 2008. California got the money as one of 18 so-called “Hardest Hit” states.

The program is designed to help people with “low to moderate income” who have suffered financial hardship. But the payouts have been slow, quiet, and disappointing for two reasons:

Reason #1) Keep Your Home California wouldn’t pay out to people unless banks matched payments dollar-for-dollar. There was no law forcing banks to do this – it was strictly voluntary, an incentive program for banks to “do the right thing.” So to no one’s surprise not all banks jumped in to join the program.

Reason #2) the two government-sponsored enterprises that hold most of the loans in California, Fannie Mae and Freddie Mac, wouldn’t play along at all.

Reason #1 has been blown out by Keep Your Home California, who just announced that starting next month they will no longer require matching funds from banks. That means if you qualify, you could get your loan reduced by up to $100,000 without bank interference.

Reason #2 has been blown out by Fannie Mae and Freddie Mac, who just announced they will now play along. That means the majority of hard-hit homeowners, who previously had no chance of getting money, are now in the game.

Go to keepyourhomecalifornia.org or call 888-954-KEEP(5337) to see if you qualify.