UPDATE: The Keep Your Home California program is now closed, and no longer accepting applications for assistance. More information can be found here.
If you are a California homeowner and you are struggling with your monthly mortgage payments, you may be eligible for assistance.
Keep Your Home California offers the following mortgage assistance programs:
- Principal Reduction Program (PRP)
- Mortgage Reinstatement Assistance Program (MRAP)
- Unemployment Mortgage Assistance Program (UMAP)
- Transition Assistance Program (TAP)
Mortgage Assistance Programs – Eligibility
Income Limits
Keep Your Home California mortgage assistance programs are for low to moderate income homeowners. Income limits are County-specific. In San Diego County, the maximum income is $91,100. For other counties, check this list.
Participating Mortgage Servicer
The mortgage servicer must participate in California Housing Finance Agency (CalHFA) programs. Check this list of participating servicers.
Financial Hardship
Homeowners must have endured a financial hardship. Here are some examples:
- Job loss
- Cut in pay
- Divorce
- Death of a family member
- Extraordinary medical expenses
- Severe negative equity (Loan-to-Value ratio of 120% or higher)
Ability to Pay
Homeowners must have recovered from their financial hardship, and be able to make their monthly mortgage payments moving forward.
Principal Reduction Program
The Principal Reduction Program (PRP) assists homeowners who cannot afford their monthly mortgage payments. They can apply for as much as $100,000 in assistance, to reduce the principal balance of their mortgage. This can reduce the monthly mortgage payment by hundreds of dollars. Read more about the Principal Reduction Program.
Mortgage Reinstatement Assistance Program
Keep Your Home California has doubled the funding limit for their Mortgage Reinstatement Assistance Program (MRAP). Homeowners who are behind at least two months on their mortgage payments can receive up to $54,000 to help them catch up on payments. The previous maximum was $25,000. Read more about the Mortgage Reinstatement Assistance Program.
Unemployment Mortgage Assistance Program
The Unemployment Mortgage Assistance Program (UMA) provides mortgage payment assistance if you have experienced an involuntary job loss and are receiving California EDD unemployment benefits. Benefit assistance can be up to $3,000 per month and can last up to 18 months. The maximum assistance per household is $54,000. Read more about the Unemployment Mortgage Assistance Program.
Transition Assistance Program
If you have had a short sale or deed-in-lieu of foreclosure, the Transition Assistance Program (TAP) provides one-time funds to help you relocate into a new housing situation. The TAP can provide up to $5,000 in transition assistance per household. Read more about the Transition Assistance Program.
For More Information
For more information about any of the Keep Your Home California programs, call 888-954-KEEP (5337). Representatives are available to answer your questions between 7 a.m. and 7 p.m. on weekdays, and between 9 a.m. and 3 p.m. on Saturdays. Translation services are available. You can also visit www.keepyourhomecalifornia.org.
Keep Your Home California is a free, federally-funded mortgage assistance program. It is overseen by the California Housing Finance Agency (CalHFA). You can also read my articles about other mortgage assistance programs:
