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Danielle

Single mother turns to Keep Your Home California after being laid off

Plummeting crude oil prices hurt many oil companies in the Bakersfield region.

Unfortunately, Danielle B. is one of those employees who worked for an oil company. She says her company started laying off workers earlier rather than later.

“I didn’t know what I was going to do after I lost my job,” Danielle says.

Danielle was let go in fall 2014 and was told her position would be eliminated since the company was downsizing. She was a special projects coordinator, which looked over invoicing and auditing.

Danielle is a single mother who does it all. She has two children – an 18-year-old daughter and 13-year-old son. Both grew up in the home they live in today. It’s also the first home Danielle ever owned.

“Our next-door neighbors have children the same age and they all went to school together,” Danielle says. “They are like family.”

A Keep Your Home California flyer that she received in the mail is how she found out about the Unemployment Mortgage Assistance program. The Employment Development Department has mailed more than 1.5 million of the Keep Your Home California flyers to homeowners in California during the past two years.

The free mortgage-assistance program offers homeowners who have received unemployment benefits within the past 30 days from the Employment Development Department as much as $3,000 per month, for a maximum of 18 months.

Danielle says she’s extremely blessed.

“My house means everything to me,” she says.

After she received the approval letter from Keep Your Home California, she says the weight was lifted off of her shoulders.

“When the parents are stressed, the kids are, too,” Danielle says. “I was able to focus on trying to find a job without worrying how I was going to pay for my mortgage.”

Danielle wants others to know that everybody from Keep Your Home California has been helpful and nice throughout the process.

“The worst answer you could get is ‘no,’ so definitely give it a try,” Danielle says. “Don’t be afraid to apply for the program. A lot of people have pride and don’t want to ask for help, but they should.”

Danielle is ecstatic that her kids will be able to stay in their first home and her daughter will graduate from the same high school.

michelle_v

As a full-time student, physical therapist assistant and homeowner, Michelle was nearly overwhelmed.

Between rising tuition and a mortgage payment that had just increased, she was worried that a default was just around the corner. Decreasing property values left her in a position where she was unable to qualify for existing refinance programs.

Being proactive by nature, Michelle worked with a local nonprofit counselor to explore other potential options and learned about a principal reduction program being offered through Keep Your Home California. “I didn’t want to wait,” Michelle says. “I’d never been late on my mortgage payment because I knew it would just add more stress to my life. I knew I wanted to keep my home – walking away just wasn’t an option for me.”

After her over-the-phone counseling session with Keep Your Home California, Michelle was quickly qualified for a principal reduction of $50,000. Paying down her principal meant restructuring Michelle’s mortgage payment to a level she could easily afford. “I never had credit card debt,” says Michelle. “But I was living paycheck to paycheck. With both my school costs and mortgage payments increasing, I wasn’t sure how I would be able to continue to make ends meet.  Now I not only have a mortgage payment I can afford, I also have enough money to take some extra classes and get my degree sooner.”

Adding a principal reduction component to the Keep Your Home California suite of programs was a necessity according to California Housing Finance Agency executive director, Claudia Cappio. “Property values have decreased significantly in California, leaving many borrowers with so much negative equity they are not able to take advantage of the numerous refinance programs that are already available. The Principal Reduction Program was specifically created to help homeowners who are serious about living in their homes and creating longer term stability for their families by giving them an opportunity to qualify for a more sustainable modification. It certainly isn’t a panacea, but for a lot of families who don’t have any other options available to them, we believe this is a good and fair solution.”

It was certainly the answer Michelle Vera was looking for. “For me, this is a permanent solution to my mortgage problems.”

 

Ana-G

Homeowner Ana G.: Keep Your Home California helped during the most traumatic time in her life

Ana, originally from the Philippines, lost her husband in February 2013.

The single mom of a 6-year-old son and 10-year-old daughter says living on a single income with two children is challenging. Ana needed help, and that’s when she turned to Keep Your Home California.

Ana applied and was approved for Keep Your Home California’s Principal Reduction Program. The free mortgage-assistance program funded $43,000 to pay down Ana’s principal balance, which helped lower her monthly mortgage payments.

“It means that I can still afford to keep our lifestyle, instead of moving into an apartment,” she says.

Ana says keeping the house was a way for her children to remember their father. The family has lived in the home since 2005.

“Keeping the house was important for us,” says Ana, who lives in Northern California. “The house has a lot of memories, especially of their dad.”

The Principal Reduction Program provides as much as $100,000 in mortgage assistance for financially strapped homeowners. The program can save homeowners hundreds of dollars every month in mortgage payments.

“Moving out of the house would have been another traumatic change for my kids,” says Ana, whose mortgage servicer is Residential Credit Solutions.

Thanks to Keep Your Home California, she continues to watch her two children play sports in the backyard.

“I hope people are aware of this program,” Ana says. “It really helps you keep your house.”

Testimonials

EDD flyer led Daniel O. to Keep Your Home California

When Daniel O. lost his full-time job, he was like most people – he worried, a lot.

“I didn’t know what to do,” says Daniel, who lives in the Los Angeles area.

Then, he came across a flyer about Keep Your Home California from the state Employment Development Department. The state agency mailed more than 1.4 million flyers about the free mortgage-assistance program during 2014 alone.

Daniel, who has lived in the same home with his wife for 15 years, applied for Keep Your Home California in late spring 2013.

“There was a lot of information requested, but it really wasn’t all that complicated,” says Daniel, who was approved in a few weeks for the Unemployment Mortgage Assistance program.

The Unemployment Mortgage Assistance program provides as much as $3,000 per month for up to 18 months to out-of-work homeowners eligible for assistance from the EDD. The assistance will cover everything that is impounded with the monthly mortgage payment, including principal, interest, taxes, insurance and homeowner association fees.

“It was great,” says Daniel, who recommends the program to other homeowners in similar situations. “It was really a Godsend.”

In fact, Daniel was in a better situation than many other homeowners looking for work. He and his wife were a month ahead on their mortgage payments and had some savings.

Keep Your Home California allowed Daniel to focus on finding another full-time job without worrying about his mortgage.

“It was such a relief … very thankful,” says Daniel, whose mortgage servicer is Wells Fargo, one of the most active servicers enrolled in Keep Your Home California. “We couldn’t have done it without the program.”

Testimonials

Unemployment Mortgage Assistance program helps Al save his home – and his dream

Soon after Al R. bought his dream house, he lost his great-paying job.

Like many homeowners in recent years, the American Dream had become a real-life nightmare – and an everyday struggle.

Al and his family made a few mortgage payments and then got behind. Then, he came across a mailer about Keep Your Home California, the free mortgage-assistance program that has helped more than 30,000 homeowners since February 2011.

“We thought it was too good to be true,” says Al, who applied twice for the program. “There was some serious nail-biting whether we were going to keep our home. One of our biggest fears was that the program would end before we were approved.”

The program will not end anytime soon. Keep Your Home California received almost $2 billion from the federal government, so there are quite a few dollars still available for financially strapped homeowners.

Al was approved for the Unemployment Mortgage Assistance Program, which offers as much as $3,000 per month for up to 12 months. Homeowners who meet the program income limits and are also collecting jobless benefits from the Employment Development Department, are eligible for the program.

“It really works; it’s what we needed,” says Al, who lives in the Sacramento region. “We’re so grateful.”

Now, he talks about the program when he comes across homeowners struggling with their mortgage payments.

“We can’t be more appreciative or more supportive of the program,” says Al, whose daughter also benefited from the Unemployment Mortgage Assistance program in recent months.

Now, Al is back to work and making his mortgage payments on his own.

“The bottom line is that we got it, and it saved our home,” he says. “And we love our house, it’s our dream house.”

Our programs are designed to help you keep your home if you've suffered a financial hardship.

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Great, you may be eligible for all or some of our programs!

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Have you received unemployment benefits from the California Employment Development Department (EDD) within the past 30 days?

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Are you two or more payments past due on your first mortgage loan?

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Based on your responses you do not qualify for a Keep Your Home California program, but we still want to help! Find out about the other options that are available to you by clicking the link below.

Don’t worry, other programs are available

Don't worry, other programs are available.

Although you do not qualify for a Keep Your Home California program, your mortgage Servicer or housing counselor from a HUD-approved agency may have other options that are available to you. These options include:

1) Federal Mortgage Relief

  • Load Modification
  • Refinance
  • Short sale assistance
  • Deed in lieu help

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2) Your Mortgage Servicer

  • Forbearance
  • Repayment plan
  • Short sale
  • Cash for keys

Contact your service provider for more information

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You may be eligible for the following Keep Your Home California Programs:

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