Program offers a chance to get your Loan Principal Reduced!
KEEP YOUR HOME CALIFORNIA
California Homeowners caught a big break when Bank of America agreed to participate in a principal-reduction program.
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Helping You Keep Your Home
Each of the Keep Your Home California programs is designed to address one or more aspects of the current housing crisis by doing the following:
- Helping low and moderate income homeowners retain their homes if they either have suffered a financial hardship such as unemployment, have experienced a change in household circumstance such as death, illness or disability, or are subject to a recent or upcoming increase in their monthly mortgage payment and are at risk of default because of this economic hardship when coupled with a severe decline in their home’s value.
- Creating a simple, effective way to get federal funds to assist low and moderate income homeowners who meet one or all of the objective criteria described above. Speed of delivery will be balanced with fulfillment of the specific program’s mission and purpose.
- Creating programs that have an immediate, direct economic and social impact on low and moderate income homeowners and their neighborhoods.