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Mortgage Assistance Program for Unemployed Californians Begins

| January 12, 2011
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On Sunday, Chronicle business columnist Kathleen Pender wrote about California’s new mortgage assistance program for unemployed homeowners. The program, according to Pender, will provide unemployed homeowners who qualify with up to $18,000 over six months. Pender also published an update Monday, answering questions about the program from her readers.

If you think you may qualify, the California Housing Finance Agency is now taking applications and has launched a web site called Keep Your Home California. Check it out to see eligibility requirements and frequently asked questions.

According to Pender, “four of the nation’s largest mortgage servicers – Chase, GMAC, Bank of America and Wells Fargo – are now participating. CitiMortgage still has not signed up but intends to, a spokesman (said) last week.” So if your mortgage is held by one of those companies, you may be eligible.

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Category: Business and Finance, Real Estate

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  • Karen Dohrmann

    This is a great program, but it does us no good if our servicer doesn’t participate. There should have been a way a borrower could be set up without having their servicer having to sign an agreement. My servicer didn’t know about this program and unfortunately, the person answering the phones isn’t the right person to notify and I couldn’t get past the person to get to the right person. I feel there will be serveral borrowers falling thru the cracks and won’t be able to take advantage of the program. I feel so helpless because my servicer isn’t interested at all!!!!

    Another door closed:(