CalHFA MAC provides homeowners with “satisfied” copies of their Promissory Note and Deed of Trust within 30 days of their Promissory Note’s scheduled maturity date. CalHFA MAC also submits paperwork to the county where the Deed of Trust was recorded with instructions to release the Deed of Trust. This document is called a Reconveyance and it will be sent to the homeowner as soon as the county completes the release of lien process.
The United Way's 2-1-1 hotline connects people with local assistance programs. By dialing 2-1-1, you can receive referrals to organizations that help with food, housing, employment, health care, prescriptions and more. If you are a struggling homeowner, the United Way can help you find a foreclosure prevention counselor and refer you to available mortgage assistance programs. Trained specialists take calls day or night. The United Way may also provide emergency financial assistance to households in danger of losing their homes. Programs vary among locations.

A few years ago (see above), if you were breathing it seemed like you could find a mortgage. Things are a little bit tighter now. The biggest factor is your debt to income ratio. It’s your minimum monthly debt divided by your monthly income. But don’t worry. You don’t have to do the math! There’s a handy DTI calculator that will figure it out for you and estimate how much you’re likely to qualify for.
Many homeowners pay their mortgages on time, but are not able to refinance to take advantage of today’s lower mortgage rates, mainly due to a significant decrease in the value of their home. A Home Affordable Refinance will help borrowers refinance their first mortgage even if the balance owed is more than 100% of the home value. For example, let’s say the amount you owe on your first mortgage is $500,000. You may be able to refinance even if the home value is now only $400,000.
You may have heard that you should put 20 percent down when you purchase a home. It’s true that having a large down payment makes it easier to get a mortgage and may even lower your interest rate. But many people have a hard time scraping together a down payment that large. Fortunately, there are many options for homebuyers with little money for a down payment. FHA loans offer down payments as low as 3.5 percent. VA and USDA loans may require no down payment at all.
Catholic Charities also runs a number of free foreclosure counseling programs. They have locations across the nation, and case managers at many centers specialize in dealing with housing issues, including mortgage delinquency and providing more general homebuyer assistance. The services also deal with overall credit counseling and repair. All services are free to qualified families, and locations are approved and certified by HUD. Read more on Catholic Charities free housing counseling.
In the event an active duty military homeowner is deployed or relocated, pursuant to military orders, Keep Your Home California will waive the “occupancy” requirement and the “Acceleration of Payment” clause, as pertains to occupancy, contained in the Note and the “Prohibition on Transfers of Interest” clause in the Deed of Trust, as pertains to the homeowner’s ability to rent or lease the home during the period of their relocation. The homeowner will be required to provide updated temporary residence/location information and must provide a copy of the orders requiring his/her relocation.
Perhaps the most intimidating part of buying a home is applying for a mortgage. You may know exactly what “APR,” “points” and “fixed-rate” mean — but if this is your first home, or you just need a refresher, there are a lot of great resources to get you up to speed so you can be a well-prepared mortgage shopper. And because this is such a crucial part of owning a home, we’re going to break it all down.
Citigroup will be providing mortgage help to millions of homeowners. They are committed to stopping foreclosures and in helping homeowners stay in their homes. Billions of dollars in fees and principal reduction will be provided to qualified borrowers. They will also provide additional mortgage assistance to the unemployed and those who have had a reduction in their income. Read more on the Citi unemployed homeowner mortgage assistance.
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