Target Population/ Areas The Unemployment Mortgage Assistance Program (“UMA”) is one of CalHFA MAC’s federally-funded programs developed to provide temporary financial assistance to eligible California homeowners Loan funds will only be repaid to Eligible Entity (CalHFA MAC) in the event of a sale or a refinance that includes cash out with sufficient net equity proceeds prior to forgiveness. Jim E. Hello, We do not charge a fee for our services. You must also be eligible for unemployment benefits, owe less than $729,750 toward your mortgage, and live in your home. I recently was contacted by a woman who was laid off two months ago. Structure of Assistance: CalHFA MAC will structure the assistance as a non-recourse, non-interest bearing subordinate loan in favor of the Eligible Entity (CalHFA MAC) secured by a junior lien recorded against the property in the amount of the total reduced PITI and any escrowed homeowner’s association dues or assessments, and equal to the total amount of HHF unemployment assistance. The Nevada Hardest Hit Fund® has currently reached capacity. You can read the full description here: http://keepyourhomecalifornia.org/programs/uma.pdf Mortgage Assistance Program. But I have a question. Just reaching and searching for help, One of California struggling HOMEOWNERS! At the conclusion of (3) three years, the subordinate loan will be released. Mortgage Payment Relief During COVID-19 Crisis; Trouble Paying Your Rent. Our phone number is 408-293-6000. Michelle kept in contact with the Keep Your Home California team and provided all documents needed for the eligibility review. Change ), You are commenting using your Facebook account. Loan Principal Reduction Program UMA 07/12/2017, at which time any recovered funds will be returned to Treasury. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: www.foreclosurehelpscc.org. Some of these may include transition to other foreclosure alternatives, such as deed-in-lieu of foreclosure or short sale. How and when is the difference of the mortgage payment repaid? She applied for Keep Your Home California in February and was approved a month later for the Unemployment Mortgage Assistance Program. And my husband and I had to helped each one of them.Lastly, our deliquents is so HIGH beacause of the 4 mistakes they had created since 2009 until now, They want us to pay for it with our mortgage. The link for HUD approved agencies in California is here: http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=CA, 5) In our experience, it’s really important for the homeowner to stay “in the driver’s seat” when working with the bank and to stay in constant contact with them. Here are some quick facts about the Keep Your Home California program: Your lender/servicer must participate in the program in order to qualify for the Keep Your Home California funds. Homeowners often have to be the “connector” between departments at the bank (who may not be speaking with each other). To get help postponing your mortgage payments or restructuring your loan, ... Unemployment assistance from state governments. Good morning Laurie, Up to $3,000 in monthly assistance for homeowners that are currently receiving or are approved to receive unemployment pay from California’s Employment Development Department (EDD). If you are a homeowner who already has an active application in progress, and have questions, please call (888) 320-6526 between 10 AM and 2 PM Monday through Friday, except holidays, and leave a message with your name, phone number, and homeowner ID. The assistance comes as more than 1 million Californians have applied for unemployment benefits this month due to layoffs or reduced hours amid the pandemic, Newsom said. The additional federal benefit of $600 per week lasts lasts four months, from March 29 through July 25. Homeowners are encouraged to explore free HUD foreclosure prevention counseling, which could help you qualify for other programs. The Unemployment Mortgage Assistance Program (UMA) will use federal funds to give mortgage-payment assistance to unemployed homeowners in California. I met with her the following day to go over the Unemployment Mortgage Assistance (UMA) program. WE ARE CONTROLLED, ABUSED AND PRISONED IN OUR OWN HOME! | ForeclosureHelpSCC. Thank you for writing. The Unemployment Mortgage Assistance Program (UMAP) is a federally funded program developed to provide temporary relief to homeowners who have experienced a loss of income due to unemployment or underemployment. I’m currently on unemployment, home loan is current. Over 600 homeowners in Santa Clara County have already benefited from Keep Your Home California. Not just for Veterans! Do we need to deplete our savings before we qualify for mortgage payment assistance? Program Overview 2. The Nevada Affordable Housing Assistance Corporation is a non-profit organization administering the U.S. Treasury sponsored Nevada Hardest Hit Fund ® Receiving unemployment benefits and In need of mortgage assistance? This will undoubtedly be a popular topic among Californians in 2011, so we have put together a fact sheet with the pertinent details. Federal Register. There are also state-wide agencies: http://keepyourhomecalifornia.org/counseling.htm#Entire Help with rental assistance after a foreclosure-What’s out there? TAP-Transitional Assistance Program: Provides a payment of up to $5,000 to help homeowners, who cannot retain their home transition into new housing. For instance, the Keep Your Home California Unemployment Mortgage Assistance program provides monthly cash benefits to eligible unemployed homeowners for up to nine months. Sean Coffey Michelle had used up her savings and was concerned about her ability to pay her mortgage while unemployed. Unemployment Mortgage Assistance—Up to $3,000 per month for up to twelve months for unemployed homeowners who are collecting unemployment benefits from the State of California's Employment Development Department (EDD). Unemployment Mortgage Assistance (UMA) program, Servicers Participating in Your Home California, http://www.housingtrustscc.org/programs/homelessness_prevention.php. Our stress is so high for the past 3 years and we still hanging on because this is OUR RETIREMENT HOME! ( Log Out /  By Aurora Olivares, Housing Counselor at Project Sentinel, one of the members of ForeclosureHelpSCC. We are returning calls in the order they were received. Find financial help if you are affected by coronavirus / COVID-19 in California. Contact Keep Your Home California (888-954-5337) to learn more. We appreciate your patience and will strive to return your call as soon as possible. 8. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. For more information about the Treasury’s role in supporting Nevada and other states through the Hardest Hit Fund, please visit the Treasury’s website here. Pandemic Unemployment Assistance (PUA) offers the following relief: Adds $600 per week to the Unemployment Insurance benefit, which in California is a maximum of $450 per week. The Keep Your Home California program applies to primary mortgages in first position only. At the end of the forbearance, you may be evaluated for a mortgage … Rent Assistance and Emergency Program for Vista Residents Thank you! The direct number for Keep Your Home California is: 888-954-KEEP(5337) MRAP-Mortgage Reinstatement Assistance Program: This program can help by reinstating past due payments. Unemployment Mortgage Assistance. Accessed Nov. 30, 2020. Thank you for writing, a few suggestions/answers to your questions: 1) Yes, you are correct, if the investor does not participate in the principal reduction program, then it won’t work for your situation. The coronavirus pandemic has caused vast economic disruptions. I am currently on unemployment, however, that may be running out and we have exhausted all of our savings to keep afloat. It was so helpful for us to keep our home. If so, please contact our hotline at 408-293-7400. California Hardest Hit Fund Unemployment Mortgage Assistance Program This part of the program will help people who have lost their job or who have had a substantial reduction in household income. Unemployment insurance, paid family leave, disability insurance, statewide moratorium on evictions, mortgage relief, and forbearance. EDD is one of the largest state departments with employees at hundreds of service locations throughout the state. 2) If you have complaints about Bank of America, you may want to look into: The California Monitor for the National Attorney General Settlement: http://californiamonitor.org/, 3) The Consumer Financial Protection Bureau recently announced new rules to improve mortgage loan servicing, you can read about them here: http://www.consumerfinance.gov/blog/new-rules-fewer-runarounds-for-mortgage-borrowers/, 4) If you haven't already, you may want to reach out to a HUD-approved housing counseling agency near the Riverside area to see if they can assist. In addition, the funding for California would pay for an increase in unemployment benefits, up to $600 weekly on top of what California provides recipients, from $40 to $450 a week. *Up to $3,000 a month available per eligible household! Change ), You are commenting using your Twitter account. This is from the UMA program description on the Keep Your Home California website. Is it true that homewoners do not have power or not qualified for the said program, if investors are not participating in principal reduction even we cannot afford and aside from the value of the property is upside down? Does Keep Your Home California still pay mortgage even when unemployment runs out? Details on this will be covered during your initial telephone counseling session with the Keep Your Home California staff. Thus, we have to pay previous value of our property. Maggie’s Five Rules for Working with Your Bank or Servicer, Thank you for writing. 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