More counseling agencies join Keep Your Home California, help homeowners apply for mortgage assistance program

Keep Your Home California has added 14 housing counseling agencies, giving distressed homeowners a face-to-face connection to learn more about – or even apply for — the state-run mortgage assistance program.

The partnership with these HUD-approved agencies was arranged with struggling homeowners in mind – some are reluctant to discuss their mortgage worries over the phone. With more than 40 counseling agencies now on board with Keep Your Home California, homeowners can walk in, sit down and have an in-person discussion of their mortgage assistance options.

The nonprofit housing counselors are very familiar with the four Keep Your Home California programs and facilitate the application process for homeowners by determining eligibility and helping to answer any questions from distressed homeowners – all for free.

Even if a homeowner doesn’t qualify for assistance through Keep Your Home California, the beauty of this partnership is that the counselors are also well-versed in a variety of other mortgage assistance options and can often help homeowners with other alternatives.

The 14 newly added HUD-approved counseling agencies are:

  • Community Housing Development Corp. of North Richmond
  • Fair Housing of Marin
  • Fair Housing of Riverside
  • Fresno Housing Authority
  • Korean Resource Center
  • Legal Aid Society of Orange County (LASOC)
  • National Asian American Coalition (NAAC)
  • Neighborhood Assistance Corporation of America (NACOA)
  • Neighborhood Housing Services of the Inland Empire (NHSIE)
  • NID Housing Counseling Agency (NIDHA)
  • Operation Hope
  • Spanish Speaking Unity Council (SSUC)
  • Tri-Valley Housing Opportunity Center (TVHOC)
  • West Los Angeles Community Development Corporation (WACDC)

The counseling agencies, which have undergone extensive training in recent weeks, join more than 25 other nonprofits already providing services to homeowners. You can check the complete list of counseling agencies at http://www.keepyourhomecalifornia.org/counseling.htm.

Some counseling agencies offer assistance over the phone, so a homeowner can make a call and receive the same help from an out-of-area housing agency. But, in general, the counseling agencies focus on giving one-on-one-assistance to homeowners in their region.

Additional information about partnering counseling agencies is available in a previous blog https://keepyourhomecalifornia.wordpress.com/2012/01/19/community-counseling-agencies-offer-a-face-to-face-connection-to-keep-your-home-california/.

If you would like more information about Keep Your Home California, check http://www.keepyourhomecalifornia.org/ (or http://www.conservatucasacalifornia.org/ in Spanish) or call 888-954-5337. The processing center is open 7 a.m. to 7 p.m. weekdays, and 9 a.m. to 3 p.m. Saturdays.

Image: FreeDigitalPhotos.net


Keep Your Home California Program Attracts 20 More Servicers to Program

Mortgage servicers catering to everything from professional musicians to employees for the King of Beers are joining Keep Your Home California.

In fact, the state-run mortgage assistance program has added 20 servicers during the past four months (see below for the list) – about a 30% increase since March 1. Currently, there are about 85 servicers participating in the program, from financial-services giant Bank of America to Musicians Interguild Credit Union in Hollywood and the Anheuser Busch Employee Credit Union.

From the big-name banks – think Chase and Wells Fargo – to the more pint-sized, such as Bourns Employee Federal Credit Union and Napus Federal Credit Union, participating servicers make the program work.

We want to help homeowners – it’s our primary mission. But your servicer, the company that collects your monthly payments, must participate in Keep Your Home California and at least one of the four programs. Check the complete list of servicers at http://www.keepyourhomecalifornia.org/participating.htm.

We continue to attract servicers, especially following the recent decision to eliminate a dollar-for-dollar match by servicers participating in the Principal Reduction Program http://www.keepyourhomecalifornia.org/prp.htm. Basically, homeowners could receive as much as $100,000 in principal reduction from Keep Your Home California, without funds from servicers.

Now, we are looking at additional changes that could lure more servicers to the Principal Reduction Program. Hopefully, the big banks, Fannie Mae and Freddie Mac will embrace the program, making it much easier for everyone – Keep Your Home California, the servicers and, most importantly, homeowners. (Fannie Mae and Freddie Mac combine to have a role in about 60 percent of the mortgages in the state.)

And we constantly look at our other three programs – Unemployment Mortgage Assistance, Mortgage Reinstatement Assistance and Transition Assistance – in order to improve efforts for hard-hit homeowners and servicers. For example, we increased the funding limit under the Mortgage Reinstatement Assistance Program to $25,000 in recent months.

Keep Your Home California representatives continue to meet with mortgage servicers encouraging them to join or expand their participation in the federally funded program. We’ve had good luck, but if your servicer is not participating or enrolled in a specific program, well, it doesn’t matter how many we have on board for you.

So, we will do our best to get every servicer to participate. Here are the most recent additions to the program. We strongly encourage you to check out the website for the complete list and how these 20 newcomers are participating in the program.

  • Acqura Loan Services
  • AMS Servicing
  • Anheuser Busch Employee Credit Union
  • Bourns Employee Federal Credit Union
  • Carrington Mortgage Servicing LLC
  • CCO Mortgage (aka RBS Citizens Bank)
  • FCI Lender Services Inc
  • Fremont Bank
  • Home Servicing
  • Honda Federal Credit Union
  • MetLife Home Loans
  • Musicians Interguild Credit Union
  • Napus Federal Credit Union
  • Pentagon Federal Credit Union
  • Resurgent Mortgage Servicing
  • Round Point Mortgage Servicing
  • RPM Mortgage
  • San Diego County Credit Union
  • San Joaquin Power Employees Credit Union
  • Western Federal Credit Union

If you would like more information about Keep Your Home California, check http://www.keepyourhomecalifornia.org/ (or http://www.conservatucasacalifornia.org/ in Spanish) or call 888-954-5337. The processing center is open 7 a.m. to 7 p.m. weekdays, and 9 a.m. to 3 p.m. Saturdays.