Longtime mortgage professional Laurie C. entered the fast-paced business because she “likes helping people.”
Now, Laurie – who has enjoyed a 20-year career in the home lending industry but has endured three recessions along the way – is getting a helping hand from Keep Your Home California.
Like many homeowners in California, Laurie has become a casualty of the dismal economy and the hard-hit housing market. She has been “in and out of work” for the past five years, as the housing market struggles through one of its worst downturns.
She was most recently laid off July 1, and soon after applied for Keep Your Home California’s Unemployment Mortgage Assistance Program. The state-run program helps out-of-work homeowners with their payments, up to a maximum of $3,000 per month for six months.
“I tried to do a modification … but they gave me the runaround for a year,” Laurie says. The Keep Your Home Program was different. “They had me qualified and eligible in 10 days.”
The mortgage servicer, which must participate in the program, approved the payment plan for Laurie a week later.
Keep Your Home California – established with $2 billion in federal funds through the U.S. Treasury’s Hardest Hit Fund® – started making her monthly $750 mortgage payment in September, and will continue through February, Laurie says.
“I don’t know what I’d be doing” without the mortgage assistance, says Laurie, who lives in a condominium in Roseville, about 20 miles northeast of Sacramento. “I totally believe in this program.”
Laurie often educates other financially strapped homeowners about the Keep Your Home California and how the program has helped her save her home.
“I’m out there selling it,” Laurie says. “I’m a true believer that things happen for a reason.”