Fifty-five mortgage
servicers—representing 90 percent of the mortgages in California—are now
participating in this program that offers mortgage assistance to help
California families stay in their homes. To date, more than 10,000 homeowners
have either received funding or are in the process of getting financial help
from Keep
Your Home California.
The 55 participants include six of
the largest servicing companies in the state: Bank of America, JPMorgan Chase,
Wells Fargo, GMAC, CitiMortgage and EMC Mortgage.
These important programs include:
- Unemployment Mortgage Assistance:
Mortgage assistance of up to $3,000 per month for homeowners collecting
unemployment benefits and are in imminent danger of defaulting on their
home loans.
- Mortgage Reinstatement Assistance
Program: As much as $20,000 per household to reinstate mortgages to prevent foreclosure. The funds are available to homeowners who have fallen behind on
their mortgage payments due to a temporary change in household income,
such as reduced pay or work furloughs.
- Principal Reduction Program: Lowers
the principal owed on a mortgage by as much as $50,000 when the homeowner
is facing a serious financial hardship and owes significantly more than
the home is worth.
- Transition Assistance Program:
Provides up to $5,000 in relocation assistance for homeowners who can no longer afford their home when their
lender agrees to a short
sale or deed-in-lieu of foreclosure.
Keep Your
Home California is aimed at helping low and moderate income
homeowners who are struggling with their mortgage payments amid the worst real
estate crisis in generations. The programs are limited to homeowners who meet a
number of criteria, including income limits and facing a documented financial
hardship.
For a complete description of the
programs and to find out if your lender is participating in these programs or
if you qualify, call me today.
To get a better idea of when your West
Sacramento homewill be worth what you owe, log in to www.shortsaleandloanmod.info
for a free estimate or call me today for a free no obligation consultation.
Call me today and sleep better tonight; you’ll be glad you did
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