Keep Your Home California principal reduction program provides as much as $100,000 to help homeowner
More than 1 of every 4 Fresno County mortgages are underwater, but Keep Your Home California has a free program that could provide as much as $100,000 to get financially strapped homeowners back on track.
In fact, a loan-to-value ratio of 120% or greater is now considered a qualifying hardship for Keep Your Home California’s Principal Reduction Program. The federally funded, state-managed program can often get homeowners close to above water on their mortgage while saving them hundreds of dollars every month in payments.
Certainly, California has enjoyed a double-digit increase in home prices during the past two years, but many regions – such as the Central Valley and even in some communities in the Bay Area and Southern California – remain well below the peak prices. The free Principal Reduction Program can help.