Keep Your Home California delivers for former postal service employee, eliminating $100,000 from her mortgage
Homeowner Deidra L. admits she was a big skeptic of Keep Your Home California, a free mortgage-assistance program that offers as much as $100,000 in principal reduction.
When a close friend encouraged her to apply for the federally funded program, Deidra, like many other homeowners, avoided making the call. She thought it sounded too good to be true.
Keep Your Home California assists financially strapped homeowners with their mortgage payments. Deidra, who moved to Elk Grove from San Francisco about eight years ago, was facing the real possibility of losing her home.
She had applied for other mortgage-assistance programs which didn’t pan out. And the first time she applied for Keep Your Home California, her mortgage servicer was not enrolled in the program.
But when she tried again, after the urging of the friend, Chase was participating in the program – and Deidra was approved for $100,000 in principal reduction.
“Keep Your Home California was totally different, it was very personal,” says Deidra, comparing the state-managed program with other mortgage efforts. “The process was very user-friendly. And you’re not passed over to people who don’t know about your situation. That’s very comforting to me.”
Deidra, who retired early with a severe disability from the U.S. Postal Service, was approved for the maximum in principal reduction in about 30 days.
“It was like a dream come true,” Deidra says of the application process and the program. “They want you to keep your home.”
So, after some phone calls and sending in her paperwork, a one-time skeptic became a big-time fan of Keep Your Home California.
“I cannot express it in words, it brought tears to my eyes,” says Deidra, whose monthly mortgage has been reduced by a few hundred dollars as part of the program “It was such a relief. I was sitting there in tears; I was prepared to lose my home. I’m keeping my home California.”