Finding a trustworthy and competent mortgage lender is an important and often overlooked step of the home buying or refinancing process. Signing off on a mortgage is one of the most significant financial decisions you can make, one that can last anywhere from 15-30 years. So, you need to make sure you’ve found a mortgage lender who will assist you through the process, ensuring you’re not making any mistakes along the way.

To be clear, you don't need a pre-approval to start looking at houses. However, since a pre-approval is essentially the same as a full mortgage approval, just without a specific home in mind, it can be an extremely valuable shopping tool. Specifically, if you submit a pre-approval along with your offer, it tells the seller that you're a serious buyer who is not likely to run into trouble when obtaining financing. One caveat: A pre-approval and pre-qualification are two different things. A pre-qualification is based solely on information you provide and is not a commitment to lend money, therefore it doesn't carry nearly as much weight.
*Keep Your Home California works directly with California’s Employment Development Department to determine a homeowner’s employment status. If it is determined that a homeowner’s unemployment benefits were terminated because they became fully re-employed at any time during the eighteen (18) month Unemployment Mortgage Assistance benefit period, and the homeowner failed to notify Keep Your Home California as required, Unemployment Mortgage Assistance benefit payments will be terminated immediately.
Grants are often given to assist home buyers with down payments, as well as help to lock in certain mortgage rates when they are first purchasing the property. These are awarded by the government based on need or other status. For instance, there are U.S. Veteran mortgage assistance grants, grants for low-income families, first-time homeowner grants, single mother grants, and grants for people who plan to do significant home improvement. These grants often cap the down payment at a certain low percentage of the total cost of the home.

PLEASE READ: It is important to note that Keep Your Home California has no role in the loan modification process and no influence on a Servicer’s decision to approve or decline such a request. The process of obtaining a loan modification during the period of Unemployment Mortgage Assistance Program benefits is completely between the homeowner and their Servicer. The Servicer may have policies that affect the homeowner’s ability to receive a loan modification while receiving Keep Your Home California unemployment benefit assistance.
Bank of America Foreclosure Prevention - From January 2008 thru current, BOA has modified hundreds of thousands of mortgages. Some of those home loans were originally issued and held by Countrywide. Bank of America offers homeowners several foreclosure and mortgage assistance programs, including modifications, principal reduction, short sales, interest rate reductions and other resources. The lender also has opened help centers in many major cities, which provide homeowners with one on one counseling and free advice. Read more on all of the Bank of America foreclosure programs.
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