Homeowners can now upload documents when applying to Keep Your Home California

Collect, convert (if necessary) and click “upload.”

It’s now that easy to submit documents for your Keep Your Home California application.

Keep Your Home California recently established a document upload system, providing homeowners with the ability to send the necessary paperwork, such as bank statements and mortgage documents, through a secure website.

It’s a big change for the free mortgage-assistance program, which has accepted documents from homeowners by fax or mail since starting in February 2011.

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Under the new document upload service, homeowners can send in PDF documents on a secure website. In fact, each applicant will have a unique website address. Data security is of the utmost importance to Keep Your Home California and this new system provides a secure, yet user-friendly option for homeowners to return necessary paperwork.

Additional information, including easy-to-follow upload instructions, are included with the application package that Keep Your Home California provides to all homeowners once they have completed their counseling session and are found conditionally eligible.

Homeowners, even those who aren’t “tech-savvy,” should find the new upload service easy to use.

Perhaps the most technologically demanding aspect of the new service for homeowners is ensuring their documents are saved in the PDF format. Many financial documents are already saved as PDFs. However, if your documents are saved in another format, don’t worry. Converting documents into a PDF is easy.

If your document is in Microsoft Word format, just open the document and go to the “Home” tab and in the upper left corner of the page click on the Office icon. Scroll down to “Save As” and then hit “PDF or XPS” on the right. The original document will be copied and converted into a PDF.

If the homeowner only has hard copies of some or all of their documents, they can scan and save their documents in PDF format.

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It’s probably best to save the PDF version on the computer desktop for easy reference. You may also want to create a folder on the desktop where you save all Keep Your Home California-related documents.

An alternative way is to visit one of the many websites that convert documents into PDFs – for free. You upload the document and the website does the rest.

Of course, homeowners still have the option to fax or mail in the necessary paperwork.

  • If homeowners fax documents, they must use the document cover sheet and fax the paperwork to the fax number provided in their application package. If they do not use the cover sheet, the documents may get lost and the processing of their file may be delayed.
  • Regular mail and express mail documents should be sent to: Keep Your Home California, P.O. Box 5678, Riverside, CA 92517. Please do not send original copies or double-sided copies.

Also, homeowners can apply for Keep Your Home California through the dozens of partner housing counseling agencies in the state, which offer face-to-face counseling services at no cost to the homeowner. The certified counselors at these nonprofit agencies can assist homeowners throughout the application process and their services are completely free for homeowners.

Uploading documents is fast and easy, but the only way to ensure a quicker response from Keep Your Home California is to make sure all required documentation (including all pages of each required document) has been sent in and the homeowner’s package is complete.

As of the latest quarterly report (fourth quarter 2016), the median processing time for Keep Your Home California was 50 days. In general, the Unemployment Mortgage Assistance Program has the shortest application process, while the Principal Reduction Program often takes the most time.

Keep Your Home California has assisted more than 72,000 homeowners with approximately $1.7 billion in funding.

In order to apply, homeowners must have a financial hardship, such as a job loss, cut in pay, divorce, death in the family or extraordinary medical expenses.

In addition to the financial hardship, homeowners must meet county-by-county income requirements and their mortgage servicer – the company that collects the monthly payment – needs to participate in Keep Your Home California.

Homeowners interested in learning more or applying for the program should call the counseling center at 888-954-KEEP (5337) or visit www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org for Spanish speakers. The counseling center is open 7 a.m. to 7 p.m. weekdays and 9 a.m. to 3 p.m. Saturdays. Calls can be taken in virtually any language through a free translation service.

Photos courtesy of the artists of Unsplash.


More than 10,000 homeowners helped in 2016

Keep Your Home California recently closed the books on another strong and successful year, assisting more than 10,000 homeowners from Calexico to Crescent City – and just about every community in between.

The federally funded program has become much-appreciated by homeowners, helping them through difficult and stressful chapters of their lives. Many homeowners dealing with hardships – such as a job loss, pay cut, a divorce, a death in the family or even extraordinary medical bills – are helped by the free mortgage-assistance program.

Vinh L

“The support is a big financial relief,” says homeowner Vinh L., who benefited from the Principal  Reduction Program through Keep Your Home California that saves his family almost $400 per month. “We were in huge financial distress.”

 

And that’s the mission of Keep Your Home California, which has issued more than twice as much funding to homeowners than any other state in the Hardest Hit Fund program.

Even with an improved economy and housing market, there are still many homeowners who need help. For example, there are an estimated 400,000 out-of-work homeowners in the state. About 310,000 California homeowners with a mortgage are considered underwater.

Keep Your Home California is definitely needed and continued to help at an impressive pace in 2016. Homeowners who were helped by the state-managed program received more money, on average, than previous years.

In 2016, Keep Your Home California assisted 10,262 homeowners with a total of $342.2 million in funding, the second best year in terms of the amount of assistance provided to homeowners. Last year’s funding was down slightly compared to 2015, when 11,173 homeowners received a total of $352 million.

The average homeowner received a record $33,346 in 2016, almost $1,850 more than in 2015 – and $8,359 more than 2014. A boost in Principal Reduction program recipients, where homeowners can receive as much as $100,000, accounted for the increase.

KYHC Funding Comparison

Clearly, there still are many homeowners who need help in the state. Whether it’s catching up on past-due mortgage payments or seeking assistance for an unaffordable or underwater mortgage, Keep Your Home California has a program to help.

The Unemployment Mortgage Assistance Program remains the most utilized, helping 5,699 homeowners in 2016. The average assistance was $26,594 – almost $2,300 more than a year earlier.

The Unemployment Mortgage Assistance Program offers as much as $3,000 per month for up to 18 months – or a total of $54,000 – to help out-of-work homeowners eligible for jobless benefits from the state Employment Development Department. The program allows homeowners to focus on finding a job rather than worry about their mortgage payments for a while.

The Principal Reduction Program is the largest of the five programs based on funding issued — $154.8 million in 2016. The average homeowner approved for principal reduction received about $62,390. The program provides a maximum of $100,000 in mortgage assistance.

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Of course, the now 6-year-old program also has an economic impact on nearby homeowners, the surrounding communities, and even property and sales-tax revenue.

An economic impact report conducted by Dr. Joseph C. Von Nessen, a Research Economist at the University of South Carolina, Darla Moore School of Business, determined that for every $1 issued to help homeowners through Keep Your Home California, $2 of economic activity was preserved within the state’s economy.

Another highlight from the report, found that Keep Your Home California preserved a total of $2.5 billion of economic activity by preserving jobs, tax revenue and property values of nearby homeowners across the state.

A few other highlights from 2016:

  • Keep Your Home California received an additional $383.3 million in funding from the U.S. Department of the Treasury. The dollars will allow Keep Your Home California to help at least another 12,000 homeowners. The program sunset date was also extended to December 31 2020, or until all of the money is issued to homeowners, whichever comes first.
  • Added 30 new mortgage servicers to the program. Almost 270 mortgage servicers – including Bank of America and Wells Fargo – currently participate in the program.
  • Developed six homeowner stories for online and TV commercials in English and Spanish. If you haven’t seen them, they are available on the Keep Your Home California website.

Keep Your Home California has assisted more than 71,000 homeowners with approximately $1.7 billion in funding.

As always, we encourage more low to moderate income homeowners to apply for Keep Your Home California.

In order to apply, homeowners must have a financial hardship, such as a job loss, cut in pay, divorce, death in the family or extraordinary medical expenses.

In addition to the financial hardship, homeowners must meet county-by-county income requirements and their mortgage servicer – the company that collects the monthly payment – needs to participate in Keep Your Home California.

Homeowners interested in learning more or applying for the program should call the counseling center at 888-954-KEEP (5337) or visit www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org for Spanish speakers. The counseling center is open 7 a.m. to 7 p.m. weekdays and 9 a.m. to 3 p.m. Saturdays. Calls can be taken in virtually any language through a free translation service.

 

 

 

 

 

 


Financial literacy, planning key to your financial future

April is National Financial Literacy Month, and it’s the perfect time to plant the seeds for long-term financial success.

Spring is about April showers that bring May flowers, preparing flowerbeds and gardens for new growth, and tossing out those never-used things as part of spring cleaning. Spring brings new hope – and new life.

Another reason why April is an excellent time to button down and get serious on establishing a financial plan? Chances are you recently filed your tax return. Whether you cheered a refund or jeered owing taxes, an effective financial plan can make dealing with Uncle Sam a bit easier – and possibly more rewarding.

As is the annual tradition, Governor Jerry Brown designated the month of April as California Financial Literacy Month and The California Department of Business Oversight has once again put together a tremendous webpage to highlight the multitude of financial resources available to Californians.

Financial Literacy Month encourages consumers to learn more about financial tools and establish a financial plan. We want consumers to learn about important financial matters such as creating and managing a budget, paying down debt while saving for emergencies, and establishing achievable financial goals, from building a college fund for your children to a retirement plan for you. Of course, if you’re already making use of these financial tools, you are steps ahead of most people.

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About three of every four consumers live paycheck to paycheck. It would be great to see consumers lower that percentage – and having the appropriate financial literacy resources available is a great place to start. Plus, a few dollars saved today could definitely help if a financial storm hits in the future.

Here are five basic steps that will help you build a better financial foundation.

  • Make a commitment: Consider how you view – and spend – money. Be honest, are you a spend-every-dollar consumer or do you spend wisely?
  • Assess your financial situation: List your assets – house, savings, retirement plans, etc. – and your monthly spending. How can you save more and spend less?
  • Get organized: Make sure you are aware of all of your finance-related accounts and situations, from every credit card and their balances to the homeowner or renter’s insurance policy. Develop a financial organization system (the pile on the kitchen counter doesn’t count).
  • Establish priorities: Understand your needs (food, housing) and wants (cashmere sweater, weeklong cruise to the Bahamas). Also think about what you are working and saving for: A house, college for the kids, retirement (even if it’s decades away). It is never too early to start saving for college and/or retirement, they come fast.
  • Live on a budget: Spend a month tracking your spending, save every receipt. Then, establish a monthly budget to determine what you need – and what you can live without. Passing on the cashmere sweater every so often and saving those dollars can help you reach your long-term goals and be better prepared for a financial emergency (car repair, medical bills, a home plumbing problem, an unplanned trip for a family emergency).

There are many excellent books about financial planning and numerous online resources, including many of our partner housing counseling agencies, that will help with the five steps listed above and so much more. Also, many banks and credit unions offer financial planning resources and services.

We encourage everyone to take full advantage of Financial Literacy Month and establish a financial plan for long-term success.

We also understand that even with the best financial plan in place, hardships happen. A job loss, cut in pay, a death in the family, divorce or even extraordinary medical bills are hard to prepare for and recover from financially.

If you’re facing that situation, please consider Keep Your Home California. The free mortgage-assistance program offers as much as $100,000 to help hard-hit homeowners with their payments. The federally funded program has helped more than 71,000 homeowners through March 2017.

In addition to a financial hardship, homeowners must meet county-by-county income requirements and their mortgage servicer – the company that collects the monthly payment – must participate in Keep Your Home California. More than 260 servicers, including Bank of America, Wells Fargo and U.S. Bank, are enrolled in the program.

Homeowners interested in learning more or applying for the program should call the counseling center at 888-954-KEEP (5337) or find more information at www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org for Spanish speakers. The counseling center is open 7 a.m. to 7 p.m. weekdays and 9 a.m. to 3 p.m. Saturdays. Calls can be taken in virtually any language through a free translation service.

 

 


Outreach and collaboration key to helping homeowners

Editor’s note: Wells Fargo has provided a special guest blog to reiterate the importance of collaboration in foreclosure prevention efforts and to detail an upcoming event where homeowners can get assistance.

wells fargo

By Martin Sanchez, Vice President of Wells Fargo Mortgage Market Outreach

California’s economic recovery continues to show encouraging signs and while the state’s foreclosure rate is among the lowest in the country, there are still many struggling homeowners in the Golden State.

That’s why at Wells Fargo we believe in collaboration with credit counselors such as BALANCE and programs like Keep Your Home California (KYHC) are essential to providing solutions to help struggling homeowners identify resources to stay in their home.

For instance, on April 5, we are joining BALANCE and the KYHC program to host a Home Preservation Workshop in Antioch, California to assist Wells Fargo homeowners facing payment challenges.  At the Home Preservation Workshop, homeowners will have the opportunity to meet face to face with housing counselors and Wells Fargo to learn about options that may help you overcome payment challenges including:

  • Understand how you may be able to keep your home and avoid foreclosure,
  • Find out ways to help you get back on track with your mortgage payments,
  • Determine your KYHC eligibility to accept the offer of assistance
  • Connect with helpful resources such as housing counselors, and
  • Learn about online tools available to you.

We have learned when we are able to work with customers we are often successful in helping them identify a solution to avoid foreclosure. We are not alone in our efforts and our collaboration with trusted nonprofits such as HUD-approved counselors and programs like Keep Your Home California makes all the difference for assisting homeowners who are coping with very real and life-changing struggles such as job loss, underemployment, health issues, divorce and  even having negative equity on your home.

Such challenges may feel insurmountable for homeowners to manage on their own.  Or even worse, homeowners can be victimized by unscrupulous mortgage modification scammers that create false-promises of modifications with a fee of hundreds and even thousands of dollars.  As time passes, a homeowner’s difficult circumstances may become dire and opportunities to provide solutions to help keep them in their home while workout options fade away.

Call your lender or a HUD-approved counselor

My advice to homeowners is if you are facing financial difficulties, the most important action you can take is to contact your lender or a trusted HUD-approved credit counselor.  That’s why the work of trusted HUD-approved nonprofits such as BALANCE and Keep Your Home California is so vital for homeowners and our country’s housing recovery. At Wells Fargo, this kind of collaboration is invaluable to assist the homeowners.

My view is the work of trusted HUD-approved counselor does for homeowners is an important complement to mortgage servicers like Wells Fargo.  And even as we see signs the housing market is improving, Wells Fargo believes supporting the work of HUD-approved housing and credit counselors is the right thing to do.

Event Information

Home Preservation Workshop hosted by BALANCE with Keep Your Home California and Wells Fargo.

When: Wednesday, April 5

Time:   9 a.m. – 5 p.m.

Where:  Wells Fargo Branch

Somersville Town Center

2601 Somersville Road

Antioch, California, 94509

To register online go to http://www.wellsfargo.com/attend;  And for more information, call 1-866-790-3276.


Goodbye HAMP, hello Keep Your Home California

While many Americans cheered, made soon-to-be broken resolutions, raised a glass for a celebratory toast, or sang Auld Lang Syne to ring in 2017, a popular and successful federal mortgage-assistance program essentially ended with little ceremony on New Year’s Eve.

The Home Affordable Modification Program (HAMP) started in February 2009, at the height of the foreclosure crisis. Since then, the Making Home Affordable-managed program has assisted more than 2 million Americans struggling financially and faced with the very real possibility of losing their homes.

But as HAMP fades away, Keep Your Home California and its Principal Reduction Program will continue to help homeowners in the state faced with financial hardships and hard-to-make mortgage payments through 2020, or until all the funding is used, whichever comes first.

Keep Your Home California, also federally funded, shares the mission of helping homeowners to remain in their homes. There are five unique programs that make up Keep Your Home California, designed to address the different circumstances homeowners face that could lead to foreclosure.

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Like HAMP, Keep Your Home California requires homeowners to have suffered a hardship, such as a job loss, cut in pay, reduced hours, divorce, a death in the family or extraordinary medical bills.

HAMP helped homeowners with their mortgages by extending terms, adjusting mortgage rates, and reducing or temporarily deferring principal payments.

Keep Your Home California’s Principal Reduction Program offers different, but comparable benefits for homeowners. The Principal Reduction Program provides as much as $100,000 in assistance to reduce a homeowner’s outstanding principal balance. The lower principal balance is then recast, with no changes to the rate or term of the loan, often resulting in lower monthly mortgage payments. In the fourth quarter of 2016, the median monthly payment was reduced by $258 after Principal Reduction Program assistance was provided.

The Principal Reduction Program can also help homeowners solve for affordability, regardless of their equity position. If a homeowner’s monthly payment becomes unaffordable due to a financial hardship, they can qualify to have their principal balance reduced to a level that will result in an affordable monthly payment based on their income.

Keep Your Home California will continue to offer the Mortgage Reinstatement Assistance Program – allowing homeowners to catch-up on their past-due mortgage payments, up to $54,000. It also offers the Unemployment Mortgage Assistance Program which provides as much as $3,000 per month for up to 18 months – or a maximum of $54,000 – to out-of-work homeowners eligible for jobless benefits from the California Employment Development Department.

Homeowners who planned to apply for HAMP, but failed to make deadline of Dec. 31, 2016, should consider Keep Your Home California’s Principal Reduction Program, or another Keep Your Home California program that can help them in their situation. The state-managed program is completely free, from the first phone call to the mortgage assistance, whether it’s a few thousand dollars or up to the maximum of $100,000.

In addition to a financial hardship, homeowners must meet county-by-county income requirements and their mortgage servicer – the company that collects the monthly payment – must participate in Keep Your Home California. More than 250 servicers, including Bank of America, Wells Fargo and U.S. Bank, are enrolled in the program.

Homeowners interested in learning more or applying for the program should call the counseling center at 888-954-KEEP (5337) or find more information at www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org for Spanish speakers. The counseling center is open 7 a.m. to 7 p.m. weekdays and 9 a.m. to 3 p.m. Saturdays. Calls can be taken in virtually any language through a free translation service.

 

 

 

 


$2.5 billion economic benefit from Keep Your Home California

Keep Your Home California has helped more than 70,000 homeowners prevent foreclosure during the past six years. However, all Californians benefit from the free mortgage-assistance program.

Statewide, Keep Your Home California had an economic multiplier effect of 2.0, meaning for every $1 funded to help homeowners another $2 was preserved, according to The Economic Impact of Keep Your Home California: A Statewide and Regional Analysis report from Dr. Joseph C. Von Nessen of the University of South Carolina’s Darla Moore School of Business. Dr. Von Nessen analyzed the economic impact of Keep Your Home California for the period from 2010 through 2015. The 40-page report includes data for each city and county, from Calexico to Crescent City.

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Keep Your Home California has a far-reaching effect on the statewide economy beyond just helping homeowners, preserving $2.5 billion worth of economic activity during the first five years of the program. The figure includes preserving jobs, generating tax revenue and protecting property values of assisted and nearby homeowners.

Keep Your Home California was established in 2010 after the state received $2 billion from the U.S. Department of Treasury’s Hardest Hit Fund to help low to moderate income homeowners dealing with a financial hardship to avoid preventable foreclosures.

The state-managed program was fully implemented in early 2011, at a time when many homeowners were dealing with foreclosures and nearly all homeowners were faced with a significant drop in the value of their homes. In addition, more than 2 million Californians were jobless – including hundreds of thousands of homeowners – during the peak of the Great Recession.

Keep Your Home California has provided much-needed help to homeowners faced with considerable uncertainty.

“A strong and vibrant housing market is a critical component of any healthy economy,” said Dr. Von Nessen. “Housing is not only one of the largest sectors of the economy, but individuals who live in stable housing environments also experience many economic and social benefits.”

But everyone, from local governments to small-business owners, have benefited from the program.

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For example, helping preserve property values also preserves property tax revenue for local government agencies, from cities and counties to school districts, and the state as well. Helping homeowners catch-up on their past-due mortgage payments or lowering their monthly mortgage payments preserves or increases consumer spending on goods and services – which helps local businesses and generates sales-tax revenue.

“Through the economic ripple effect, Keep Your Home California has not only helped those directly assisted by the program, but also many others, including employees who kept their jobs and small-business owners who maintained their customers,” said Tia Boatman Patterson, Executive Director of the California Housing Finance Agency, which oversees Keep Your Home California. “Neighborhoods, communities and the state have all benefited from the program.”

How much a community has benefited from Keep Your Home California depends on numerous factors, including number of homeowners helped, programs they used, income and even housing density. Each Keep Your Home California program helps homeowners – and the California economy – in very unique ways.

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The Unemployment Mortgage Assistance Program had the largest economic impact at $1.16 billion statewide, while the Mortgage Reinstatement Assistance Program had the largest multiplier with $4.35 of economic benefit for every $1 in funding issued.

Keep Your Home California has four first mortgage assistance programs to help homeowners.

  • Unemployment Mortgage Assistance: Out-of-work homeowners eligible for jobless benefits could receive as much as $3,000 per month for up to 18 months – or a total of $54,000.
  • Principal Reduction Program: Homeowners could receive a maximum of $100,000 in principal reduction, and many also enjoy a lower monthly mortgage payment.
  • Mortgage Reinstatement Assistance Program: The program allows homeowners to catch-up on their past-due mortgage payment, up to $54,000. However, homeowners must be able to demonstrate they can make their mortgage payments going forward.
  • Transition Assistance Program: Homeowners with an approved deed-in-lieu of foreclosure or short sale from their mortgage servicer could receive as much as $5,000 in relocation assistance.

In order to apply for Keep Your Home California, homeowners must have a financial hardship, such as a job loss, cut in pay, divorce, death in the family or extraordinary medical expenses.

In addition to the financial hardship, homeowners must meet county-by-county income requirements and their mortgage servicer – the company that collects the monthly payment – needs to participate in Keep Your Home California. More than 260 servicers, including Bank of America, Wells Fargo and U.S. Bank, participate in the program.

Homeowners interested in learning more or applying for the program should call the counseling center at 888-954-KEEP (5337) or visit www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org for Spanish speakers. The counseling center is open 7 a.m. to 7 p.m. weekdays and 9 a.m. to 3 p.m. Saturdays. Calls can be taken in virtually any language through a free translation service.


Keep Your Home California expands Reverse Mortgage Assistance Pilot Program

Change can be good, especially when it involves coming to the aid of a struggling homeowner.

Keep Your Home California has expanded its Reverse Mortgage Assistance Pilot Program, allowing more senior homeowners at risk of foreclosure because of past-due property expenses to qualify for as much as $25,000 in assistance.

The pilot program is now available to low and moderate income senior homeowners who have proprietary reverse mortgages. Previously, only homeowners with a Federal Housing Administration (FHA) Home Equity Conversion Mortgage (HECM) were eligible for program consideration. .

Keep Your Home California also recently streamlined the counseling process, allowing homeowners to receive the mortgage assistance much faster.

The pilot program, which started in early 2015, was established to help homeowners 62 years or older who are at risk of losing their home to foreclosure after getting behind on their reverse mortgage property-related expenses.

“The taxes are so high, and they go up every year. I just didn’t have enough income.” Verna H.

Although homeowners receive income from reverse mortgages, they are still responsible for property-related expenses, including property taxes and homeowners insurance. And fast-rising home prices have a financial effect on senior homeowners with reverse mortgages, especially those who live on fixed incomes.

“The taxes are so high, and they go up every year,” says Verna H., who bought her home in Southern California in 2005 and received a reverse mortgage on the property two years later. “I just didn’t have enough income.”

It’s an all-too common concern for senior homeowners. But Keep Your Home California’s reverse mortgage assistance program definitely helps.

“It saved our lives,” says Joanne H., a homeowner with a reverse mortgage in Central California who has benefited from Keep Your Home California.  “The weight it took off … you just don’t know. We were going to lose our home.”

Keep Your Home California’s Reverse Mortgage Assistance Pilot Program has helped Verna, Joanne and many other seniors avoid foreclosure and get back on solid financial ground.

“It was a real lifesaver to me,” says Jeanette M., who moved into her Southern California home in 1999 and received a reverse mortgage several years ago. After her husband passed away, her already tight budget became even more difficult. “It was not a pretty picture. We were way in the hole.”

The details about the program

Special counseling from a HUD approved nonprofit agency allows seniors to assess their financial situation and helps them manage their delinquent property-related expenses. In addition to reinstating qualifying homeowners’ past-due expenses, the Reverse Mortgage Assistance Pilot Program can also provide up to 12 months of additional assistance for future expenses, in order to help get homeowners back on their feet. Senior homeowners must meet county-by-county income limits and be able to document an eligible financial hardship such as — loss of income, a divorce, a death in the family or extraordinary medical expenses – in order to qualify for the free mortgage-assistance program.

Homeowners must also live in the home with the reverse mortgage and demonstrate their ability to make the property expenses going forward.

“People are scared because they don’t think the program can help, but it’s not that way,” says program recipient Jennie M., who lives in Central California. “It’s a positive step that can help you.”

Homeowners seeking assistance should contact their reverse mortgage servicer to begin the application process for the reverse mortgage program. Fifteen mortgage servicers participate in the program: American Advisors Group; Celink; Champion; Financial Freedom; James B. Nutter; Liberty Home Equity Solutions in Michigan and Texas; Live Well Financial Inc.; Ocwen Loan Servicing LLC; Plaza Home Mortgage Inc.; Reverse Mortgage Funding (RMF); Reverse Mortgage Solutions (RMS); SunWest; Urban Financial of America and Wells Fargo.

Keep Your Home California has set aside about $10 million for the program, enough to help about 830 seniors. The average senior homeowner will receive about $13,000. As of December 31, 2016, 537 homeowners received $6.7 million in assistance through the program.

If you would like more information about the Reverse Mortgage Assistance Pilot Program, please visit www.KeepYourHomeCalifornia.org. Homeowners more comfortable with Spanish should visit www.ConservaTuCasaCalifornia.org.