Federal shutdown won’t create a slowdown for Keep Your Home CaliforniaPosted: October 8, 2013
The federal government shutdown should not hurt homeowners in need of mortgage assistance from Keep Your Home California.
In fact, Keep Your Home California officials expect little or no disruption of service from the ongoing shutdown and political standoff in the nation’s capital.
While the free mortgage-assistance program was established with federal funds – about $2 billion from the Hardest Hit Fund from the U.S. Treasury, all of those dollars were approved and funded three years ago.
So, Keep Your Home California already received the funding and has been issuing money since February 2011. And we have hundreds of millions of dollars remaining to help homeowners who have experienced a financial hardship, such as a job loss, cut in pay, divorce or extraordinary medical expenses.
The California Housing Finance Agency, a state agency, manages the mortgage-assistance program that has helped more than 30,000 homeowners. The counseling center continues to handle calls from homeowners and applications are constantly being reviewed.
Basically, it’s business as usual, despite the political standoff at the U.S. Capitol.
Of course, if the impasse continues for some time, there could be delays with processes connected to wage and income statement verification,, but this would only be an issue with a lengthy shutdown.
So, go ahead, make our day – and yours. Call and learn more about Keep Your Home California.
The state program has helped more than 30,000 homeowners since February 2011. Homeowners must meet county-by-county income requirements and their mortgage servicer must participate in the program the homeowner is applying for. And homeowners must also have experienced a financial hardship in order to qualify.
If you have additional questions or would like to apply for the program, call 888-954-5337 or visit www.keepyourhomecalifornia.org (Spanish speakers should visit www.conservatucasacalifornia.org). The counseling center is open 7 a.m. to 7 p.m. weekdays and 9 a.m. to 3 p.m. Saturdays.