The Unemployment Mortgage Assistance Program has expanded from 12 months to 18 months. That means homeowners eligible for jobless benefits from the Employment Development Department can receive up to $3,000 a month in mortgage payment help, or a total of $54,000, for 18 months. The limit was previously 12 months and $36,000.
The unemployment assistance program was designed to allow homeowners to focus on finding a job rather than worrying about mortgage payments.
“California’s economy continues to improve, but we’re far from a complete recovery and there are many homeowners who are still struggling,” said Tia Boatman Patterson, executive director of the California Housing Finance Agency, which oversees Keep Your Home California. “We’re always looking at ways to improve the program and we are confident these changes will help more homeowners get much-needed help.”
Homeowners currently enrolled in the program can have their eligibility extended.
For information, visit keepyourhomecalifornia.org.