I thought I would recap
and paraphrase their latest blog post because the numbers are so compelling.
Keep Your
Home California – a federally funded, state-managed mortgage
assistance program – deals with a ton of numbers and files a quarterly report
with the U.S. Treasury Department. And some of the figures were a bit
head-turning in the recent report.
For example, almost 99%
of homeowners are still in their homes six months after receiving assistance
from Keep
Your Home California. Obviously, this helps hard-hit homeowners,
many who are without work. But nearby homeowners also benefit from the program,
with fewer homes entering foreclosure and home prices stabilizing.
Numerous other figures
caught our attention in the report:
- First-time applicants increased 64% during the second
quarter compared to first-quarter 2012.
- Much of the additional applications came from the
Unemployment Mortgage Assistance Program. Keep Your Home California
approved 68% more applications for the program during the second quarter
compared to the first three months of the year. The program offers as much
as $3,000 per month for up to nine months in mortgage assistance for
homeowners collecting benefits from the EDD.
- About 25% of homeowners enrolled in the Unemployment
Mortgage Assistance Program have found employment and no longer had a need
for the mortgage assistance through Keep
Your Home California.
- KYHC approved 18% more homeowners for
the Mortgage Reinstatement Assistance Program during the second quarter
compared to the first quarter. The program offers homeowners as much as
$25,000 to catch up on their mortgage payments.
- 60% of homeowners applying to the program are women.
- More than 90 servicers are participating in the
program, with almost a third enrolled in all four programs. This is a
dramatic increase from several months ago.
Certainly, the above
figures are great, but the bottom line is Keep Your
Home California wants to help even more homeowners. They want
to keep their hitting streak going, and end the season on a high note.
If you think one of the
programs might be right for you give them a call. If West Sacramento Short Sale is the better
option call me and we can discuss your options
To get a better idea of when
your West Sacramento home will 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 or for the
latest West Sacramento short sale information. Call me
today and sleep better tonight; you’ll be glad you did
No comments:
Post a Comment