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.”