The Keep Your Home California program, California's free homeowner foreclosure prevention measure administered by the California Housing Finance Agency (CalHFA), will permanently stop accepting applications on June 29, 2018 at 7:00pm. All homeowners who are faced with financial hardship and are worried about potentially losing their homes should apply before the deadline.
Since it began, Keep Your Home California has helped many homeowners stay in their homes. To date, the program has provided nearly $2 billion in assistance to over 81,500 low and moderate income homeowners across the state. Homeownership retention rates for qualifying applicants are high. Ninety-four percent of homeowners who qualified are still in their homes 24 months after receiving assistance. Qualifying applicants can receive up to $100,000.
In order to be eligible for Keep Your Home California, homeowners must have suffered a financial hardship, such as a cut in pay, job loss, divorce, death in the family, or extraordinary medical bills.
Homeowners must also meet county-by-county income requirements. For Los Angeles County and San Bernardino County, the income limits are $91,361 and $91,643 respectively. A homeowner's mortgage servicer, the company that collects the monthly mortgage payment, must also participate in the program. Almost 250 servicers, including most of the largest in the state, are enrolled in Keep Your Home California.
For more information about the program and eligibility requirements, please visit Keep Your Home California or call 1-888-954-5337. As a reminder, applications are due June 29, 2018 by 7:00pm.
Connie M. Leyva
Senator, 20th District