Keep Your Home California

Keep Your Home California

Keep Your Home California

Keep your home California has announced changes to two of its programs. The Principal Reduction Program and The Mortgage Reinstatement Assistance Program have been expanded. In a recent article, Keep Your Home California, explains that “Despite an improving economy and job market, there are still many homeowners who are struggling every month or just need a little help to get back on track with their payments.” Even with all of the news about a real estate recovery, income has not recovered. In addition to income issues, we now have mortgages that were adjustable rate mortgages or interest only that are coming up on their 10 year expiration and now are becoming 15 to 20 term mortgages with outrageous payments. California homeowners still need help.

Principal Reduction Program

The Principal Reduction Program has been expanded. Before, a homeowner had to be underwater in their home. Now, they either need to be underwater in their home and / or have an unaffordable payment. In other words, a homeowner who is not underwater, may still qualify. There can be a variety of reasons why a payment is unaffordable other than the obvious loss of job , death or pay cut. Go to their website today and see if you qualify.

Mortgage Reinstatement Assistance Program

The Mortgage Reinstatement Assistance Program was also expanded to assist more homeowners. Previously, the program limit was $25,000. The program has been expanded to $54,000 to assist homeowners in getting back on their feet and avoiding foreclosure. Go to their website today and see if you qualify.

California has unique deficiency and tax laws homeowners need to understand in order to make an informed decision about their mortgage. Staying in the home is a decision and should be made with all of the information available. . If you or someone you know is facing a point today or in the future where they cannot afford or will not make their payments, please call us 888-909-1030

About Kevin Hardin

Kevin W. Hardin is a 22 year veteran of the Mortgage and Real Estate industries. He holds a Juris Doctor (JD) degree from Concord Law School and a CMB (Certified Mortgage Banker) from the Mortgage Bankers Association. He is a Senior Loan Officer at HomeStreet Bank. He works with Borrowers, Attorneys, Title Companies, Real Estate Agents and Mortgage Companies on mortgage law issues.

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