Keep Your California Home Programs

By
Real Estate Agent with The Nines Team At Keller Williams 01390564

The Nines Team in Stockton

 "Keep Your California Home Programs."  California homeowners who pulled money out of their homes are frequently confused about what, if any, options are available to them for assistance.  The San Francisco Chronicle recently published a good primer of the possibilities.  Since even the "Chron" had trouble keeping the pieces together, the California Association of Realtors® published a recent "Summary"  of the article ... pointing out some of the resources that are available to California Homeowners falling into distress.

"Keep Your California Home" programs and eligibility requirements are shown in the overview.  However, if a Homeowner still has a level of confusion after reading the summary and the full article, please contact a lending or real estate professional ... every case is individual and the results will vary from one homeowner to another.

Via the San Francisco Chronicle

Mortgage aid offered to those who cashed out equity

The California Housing Finance Agency announced this week that people who cashed out equity on their home now are eligible for three of the four "Keep Your Home California" programs.

MAKING SENSE OF THE STORY The Nines Team in Stockton

Keep Your Home California is a state-run program funded with $2 billion from the U.S. Treasury's Hardest Hit Fund. It is designed to help low- and moderate-income people who are unemployed or owe more than their home is worth pay their mortgage.

 There are four individual programs that fall under Keep Your Home California. Eligible homeowners can get up to $50,000 in assistance from one or more of the four programs combined.

Under the new rules, people who took equity out of their homes will be eligible for the unemployment mortgage assistance, mortgage reinstatement assistance, and transition assistance programs if they meet all the other program requirements. Homeowners who cashed out equity will continue to be ineligible for the principal reduction program.

When the program first started, homeowners who had tapped the equity in their homes were ineligiblefor the programs. CalHFA decided to include these homeowners due to the large number of homeowners who were being turned away for assistance.

Under the program revisions, homeowners who originated mortgages after Jan. 1, 2009 also are eligible for the same three programs. Originally, these borrowers were excluded because they also are excluded under the federal Home Affordable Modification Program, so CalHFA wanted to be consistent with HAMP.

To qualify for any of the four programs, homeowners must fall below certain income limits, must be living in the home, and cannot own a second home, among other criteria. For additional requirements, click here 

Read the full story

Hopefully most of your questions may be answered by the preceding resources.  If not, please do not hesitate to contact one of our Team members for additional information or other resources.

888-868-4398  

If you may be considering relocation to the Central Valley of California considering adding Stockton and Lodi, California to your interest list.  The folks at The Nines Team will be delighted to show you our town … and some of the best real estate buying opportunities in the valley.  If you wish to search the local MLS please click here.  Don’t hesitate to call us if we can answer questions or get additional information for you!

The Nines Team in Stockton 

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Jim Frimmer 04/08/2011 04:09 PM
  2. Rosemary Brooks 05/22/2011 05:24 PM
  3. Mike Young 05/26/2013 03:00 AM
Topic:
ActiveRain Community
Location:
California San Joaquin County Stockton Morada West
Groups:
Active Rain Newbies
Keller Williams 'Rainers
Almost Anything Goes
Team Real Estate
CALIFORNIA DREAMING
Tags:
stockton real estate
distressed homeowners
san joaquin county news
keep your california home

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Rainmaker
1,115,854
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Jack - Do some localism posts and put your agent contact information in the signature. It works great!

Sep 08, 2011 11:35 AM #24
Rainer
478,183
Not a real person
San Diego, CA

Happy Monday!

Oct 03, 2011 05:16 AM #25
Rainer
478,183
Not a real person
San Diego, CA

You know I'm going to keep checking back until you start using your Rainmaker account. Don't expect me to just go away. Ain't gonna happen. LOL

Oct 17, 2011 08:26 AM #26
Rainer
478,183
Not a real person
San Diego, CA

....Friday’s child is loving and giving,
Saturday’s child works hard for his living

It's Sunday

Nov 06, 2011 04:19 AM #27
Rainmaker
1,115,854
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Jack, Russel told me to tell you that you need to start blogging again and make use of that Rainmaker status.

Nov 14, 2011 10:59 AM #28
Rainer
478,183
Not a real person
San Diego, CA

Hope you had a great Thanksgiving and that your Black Friday won't get too stressful and mess up the rest of your weekend!

Happy Black Friday!

Nov 25, 2011 02:28 AM #29
Rainmaker
1,115,854
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Best wishes for a strong year-end closing to get the new year started right.

Nov 25, 2011 04:49 AM #30
Rainer
321,406
Jack Mossman - The Nines Team at Keller Williams in Stockton
The Nines Team At Keller Williams - Stockton, CA
The Nines Team at Keller Williams in Stockton

Jim and Russel - Thanks for the encouragement ... and I hope you two enjoy the daylights out of the holidays!

Nov 29, 2011 12:53 PM #31
Rainmaker
1,115,854
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Every time I come over here I keep hoping that I'm going to find a new blog post by the one and only Jack Mossman.

Are you blogging somewhere else, like Wordpress or Blogspot? Because if you are, I think you can fix it so that your blogs over there get zipped over here automatically with no Google devaluation. Contact Jeremy Blanton or Jason Crouch. I think they are the two who know who to do that. Katerina Gasset might, too.

Dec 10, 2011 12:17 PM #32
Rainer
478,183
Not a real person
San Diego, CA

By the time you read this, you'll probably know whether you were naughty or nice. Look under the Christmas tree.... no presents? naughty.... I'm guessing they'll be lots of presents.

Merry Christmas Day!

Dec 24, 2011 10:46 PM #33
Rainmaker
1,179,529
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Jack, Hope this provides some releif to your area? The last thing we need is more distressed properties to flood the market.

May 21, 2012 11:51 PM #34
Rainmaker
82,003
Lisa Wiseman
Intero Real Estate Services, San Jose, Silicon Valley - San Jose, CA

This is a great post, Jack. Thank you.

Jun 25, 2012 02:10 PM #35
Rainmaker
612,414
Mike Young
203kOnLine.com, covering the USA - Las Vegas, NV
FHA 203k Consultant 916-758-1809

Jack, as always it is good to hear from you. This post is enlightening to say the least. Are you still doing the Lodi Farmier's Market Booth?

Jul 29, 2012 03:15 AM #36
Rainmaker
1,980,729
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jack,

That's great information to know. It sure beats having to file for bankruptcy. These are great options!

Jul 31, 2012 03:59 PM #37
Rainmaker
3,186,631
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jack this was reat information and it is still valid today! Thank you for sharing!

Aug 01, 2012 03:55 PM #38
Rainmaker
1,304,395
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

What a timely post LOL, hope all is good for you and the folks of Cali. Best of luck Jack

Aug 28, 2012 11:40 AM #39
Rainmaker
637,761
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

This should have been featured.  But, I have to commend you for a great post.

Oct 01, 2012 07:18 AM #40
Ambassador
2,188,706
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Great consumer information, Jack. It's great that your state association got on board to help consumers with this information. I hope we will be seeing more blogs from you in the near future.

Feb 26, 2013 11:29 AM #41
Rainmaker
1,980,729
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jack,

2011 has been too long! I wrote about you in my post today. Are you okay? Why aren't you writing blog posts?

Jun 26, 2014 04:13 PM #42
Rainmaker
3,246,981
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Jack

Thanks for sharing the information . . . .

Good luck and success.

Lou Ludwig

Aug 31, 2014 10:45 AM #43
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Jack Mossman - The Nines Team at Keller Williams in Stockton

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