Keep Your Home California

Dear Friend :

I want to let you know about a funding assistance program called “Keep Your Home California” that may help over 100,000 California homeowners facing foreclosure.

The U.S. Treasury Department has approved California Housing Finance Agency's plan to use nearly $2 billion in federal funding to help California families struggling to pay their mortgages.  The program will be administered under the name of Keep Your Home California.

Keep Your Home California Program
The Keep Your Home California is designed to help low-and moderate-income homeowners retain their homes if they have suffered a financial hardship such as unemployment, have experienced a death in the family, or a major disability.  The homeowners must own and occupy the home as their primary residence, and meet income limits.

Program Assistance:
• Mortgage assistance of up to $3,000 per month for six months for unemployed homeowners who are in imminent danger of defaulting on their home loans.

• Funds to help homeowners who have fallen behind on their mortgage payments due to a temporary change in a household circumstance. The program will provide up to $15,000 per household to reinstate mortgages to prevent foreclosures.

• Money to reduce the principal owed on a mortgage for a home where the low-or moderate-income homeowner is facing a serious financial hardship and owes significantly more than the home is worth.

Income Eligibility 
Check this Income Table and match the county you live in with your annual household income. Your gross family income should be less than or equal to the amount shown.

Los Angeles County               $75,000
San Bernardino County          $78,000

Mortgage Service Providers
The principal reduction program requires lenders to match any assistance provided through Keep Your Home California. Homeowners can apply through a call center at (888) 954-KEEP (5337) or their mortgage servicer – the company to which the borrower sends monthly mortgage payments, or make a personal appointment with one of the approved counseling agencies working with Keep Your Home California .

Each of the mortgage assistance programs requires the participation of the mortgage servicer.

The following servicers are participating in all four Keep Your Home California programs: GMAC, Guild Mortgage, California Housing Finance Agency, and the California Department of Veterans Affairs.

Other servicers, including Bank of America, JPMorgan Chase, CitiMortgage and Wells Fargo are currently participating in some, but not all programs at this time. The list of participating servicers is expected to expand in the coming weeks.

See a list of participating servicers and which programs they are currently offering.

For a full description of the program and its requirements please visit

Assemblymember Torres on Keep Your Home California Program

(Sacramento) – Assemblymember Norma Torres (D-Pomona), Chair of the Assembly Committee on Housing and Community Development, recently conducted a hearing into the Keep Your Home California program to learn more about the federally funded program. “Keep Your Home California is one more step being taken to help low and moderate income California families who are struggling to remain in their homes," said Torres. "No one program will solve the foreclosure crisis affecting our state, but together we hope to make a difference for as many families as possible." Here's more from Assembly member Torres in this Assembly Access video.