HELPING HOMEOWNERS' KEEP THE DREAM ALIVE

Keep Your Home California brings four distinct programs to homeowners who are at risk of foreclosure. Each of the Keep Your Home California programs is designed to address one or more aspects of the current housing crisis by doing the following:

  • Helping low and moderate income homeowners retain their homes if they either have suffered a financial hardship such as unemployment, have experienced a change in household circumstance such as death, illness or disability, or are subject to a recent or upcoming increase in their monthly mortgage payment or are at risk of default because of an economic hardship coupled with a severe decline in their home’s value.
  • Creating a simple, effective way to get federal funds to assist low and moderate income homeowners who meet one or all of the objective criteria described above. Speed of delivery will be balanced with fulfillment of the specific program’s mission and purpose.
  • Creating programs that have an immediate, direct economic and social impact on low and moderate income homeowners and their neighborhoods.

For more information about the programs available, please read the information below or call the Keep Your Home California hotline number. Our counselors are available to assist you with the application process. Please note that in order to take advantage of any of these programs, your mortgage lender must agree to participate.  

Please click here for a list of lenders currently participating in the Keep Your Home California Program. Then, give us a call to see how we can help you!

Keep Your Home California Hotline
(559) 741-4643


PROGRAMS AVAILABLE

MORTGAGE REINSTATEMENT ASSISTANCE PROGRAM (MRAP)
For eligible homeowners who have fallen behind on their mortgage payments.
Funding of up to $54,000 to help qualified homeowners catch up on their mortgage payments.

The MRAP is one of CalHFA MAC’s federally-funded programs developed to provide temporary financial assistance to eligible homeowners who wish to remain in their homes, but are in imminent danger of losing their home to foreclosure. MRAP provides funds to assist income-qualified homeowners to help them cure their delinquent first mortgage loan arrearages, which may also include payments needed to reinstate their loans from foreclosure.

UNEMPLOYMENT MORTGAGE ASSISTANCE (UMA)
For eligible unemployed homeowners.
Mortgage assistance of up to $3,000 per month for unemployed homeowners who are collecting or approved to receive unemployment benefits from the State of California’s Employment Development Department (EDD).

The UMA Program was developed to provide temporary financial assistance to eligible California homeowners who wish to remain in their homes, but have suffered a loss of income due to unemployment or underemployment.

TRANSITION ASSISTANCE PROGRAM (TAP)
For eligible homeowners who are undergoing a short sale or deed-in-lieu of foreclosure program.
Financial help to make a smooth transition into stable and affordable housing.

The TAP is one of CalHFA MAC’s federally funded programs developed to provide eligible homeowners with transition assistance when it is determined that they can no longer afford their home. TAP will be used in conjunction with short sale and deed-in-lieu programs to help homeowners make a smooth transition to housing. Homeowners will be required to occupy and maintain the property until the home is sold or returned to the lender as negotiated. Program funds will be available on a one-time only basis up to $5,000 per household and can be used or layered with other CalHFA MAC HHF programs. Funds will be sent to the homeowner after the short sale or deed-in-lieu of foreclosure closing. Funds are intended to help the homeowner secure new housing (e.g., rent, moving expenses, and security deposits) and will also be available for transition assistance counseling services.

PRINCIPAL REDUCATION PROGRAM (PRP)
For eligible homeowners who have suffered a financial hardship and owe more than their home is worth and/or have an unaffordable payment.
Financial assistance to help pay down the principal balance of a mortgage loan and allow for a more affordable monthly payment.

The PRP is one of CalHFA MAC’s federally funded programs developed with a goal to provide capital to homeowners who have suffered an eligible hardship in order to reduce the outstanding principal balances of qualifying properties with negative equity and/or unaffordable first mortgage payments. PRP will provide monies to reduce the principal balance of the first mortgage in connection with a loan recast, modification or a stand-alone curtailment, each with the purpose of establishing an appropriate level of affordability and/or debt for eligible homeowners with qualifying properties.