Mortgage Assistance Program KYHC for West Sacramento Homeowners

What would you say to an offer of $20,000 to bring your West Sacramento loan current? Heck ya in most cases right? That is exactly what the Keep Your Home California Mortgage Reinstatement Assistance Program or MRAP is. MRAP provides assistance to eligible West Sacramento homeowners who, because of a financial hardship, have fallen behind on their payments and need help to reinstate their past due first mortgage loan.

Benefit assistance through MRAP can be a one time payment of up to $25,000 to cover principal, interest, taxes and insurance, as well as any homeowner's association dues.

  

To qualify the West Sacramento Homeowner must qualify as a low-to-moderate income household, as follows:

• You must be in the low-to-moderate income bracket of 120% or less of the Housing and Community Development Area Median Income 120%. The HCD median income for a family of 4 in West Sacramento County is currently $91,320
• You will need to complete and sign a Hardship Affidavit / 3rd Party Authorization documenting the reason for the hardship
• Your Payment including Principle, interest, taxes and insurance cannot exceed 38% or your gross monthly income and you must have adequate income to sustain the payment
•  You must agree to provide all necessary documentation to satisfy program guidelines established by CalHFA MAC.
• You must be no more than 2 payments delinquent
• And your Mortgage loan is delinquent or at risk of imminent default as substantiated by homeowner’s hardship documentation. Loans in foreclosure are eligible. 

Unfortunately Homeowners in an “active” bankruptcy are ineligible for KYHC program assistance consideration.

To find out if your lender is participating in the program and to see if you qualify, call me today. As Certified Default Advocates it is important to us that you understand all your options. 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