Keeping Your Home in Challenging Times

The U.S. Treasury Department has approved CalHFA's plan to use nearly $700 million in federal funding to help California families struggling to pay their mortgages.

Keepyourhomecalifornia.com 

The Keep Your Home programs are focused on assisting low and moderate income families stay in their homes, when possible, and leveraging additional contributions from lenders and mortgage servicers.
Primary objectives for the Keep Your Home Programs include:

• Preserving homeownership for low and moderate income homeowners in California by reducing the number of delinquencies and preventing avoidable foreclosures
• Assisting in the stabilization of California communities

Each of the Keep Your Home programs is designed to address one or more aspects of the current housing crisis by doing the following:

• Helping low and moderate income homeowners retain their homes if they either have suffered a financial hardship such as unemployment, have experienced a change in household circumstance such as death, illness or disability, or are subject to a recent or upcoming increase in their monthly mortgage payment and are at risk of default because of this economic hardship when coupled with a severe decline in their home's value.
• Creating a simple, effective way to get federal funds to assist low and moderate income homeowners who meet one or all of the objective criteria described above. Speed of delivery will be balanced with fulfillment of the specific program's mission and purpose.
• Creating programs that have an immediate, direct economic and social impact on low and moderate income homeowners and their neighborhoods.

The program was due to begin Nov. 1^st but has been delayed several weeks due to logistical issues – more on that next week..

MY TOP PICKS FOR THE MONTEREY PENINSULA REAL ESTATE MARKET:

4 YANKEE POINT DRIVE, Carmel Highlands MLS #: 81051778 $949,000 Beds: 3 Baths: 2 (2/0)
Yankee Point Home under $1.0M! Views of the ocean, key to beach, many fresh details, best of appliances, Fruit trees large side yard, very private nestled among the trees. Decks with plenty of outdoor area to entertain. Home shows pride of ownership in all respects. Everything is in wonderful move-in condition. Regular sale. Estate sale everyone is motivated.  SqFt: 1,808 Lot Size: 19,084 Sqft

4235 CANADA LANE, Carmel 93923 MLS #: 81021878 $629,000 Beds: 3 Baths: 3 (2/1)
MOVE-IN READY SPACIOUS HOME ON A QUIET CUL-DE-SAC IN AWARD-WINNING CARMEL SCHOOL DISTRICT. NEW CARPETING & INTERIOR PAINT THROUGHOUT, NEW STAINLESS STEEL APPLIANCES, VAULTED CEILINGS, LIGHT, BRIGHT & SPACIOUS 3 BEDROOMS, MASTER BATH HAS SEP TUB & SHOWER, DUAL SINKS, ALL BEDROOMS OPEN ONTO DECKS TO TAKE IN THE FORESTED VIEWS. LARGE 2 CAR GARAGE + CIRCULAR DRIVE.  SqFt: 1,880 Lot Size: 17,859 Sqft

38350 LAUREL SPRINGS ROAD, Carmel Valley MLS #: 81027147 $595,000 Beds: 1 Baths: 1 (1/0)
The Magic Kingdom - 40 acres of complete privacy, mature oaks & madrones, open meadows. Wonderful mountain views, well-built cabin in like-new condition. Energy self-sufficient property. Gently rolling meadow - ideal for construction of new home, horse barn, and paddocks. Locked security gate, video camera system on property. Located about 50 minutes' drive from Carmel. Live close to nature.  SqFt: 840 Lot Size: 1,743,358 Sqft

1077 AMADOR AVENUE, Seaside MLS #: 81028692 $198,888 Beds: 2 Baths: 1 (1/0)
Bay views from front yard. Sale to be "As Is"--major fixer upper subject to short sale approval.  SqFt: 864 Lot Size: 5,000 Sqft

© Patty Ross KRXA Radio Show #183  November 5, 2010