Keep Your Home California will receive an additional $383.3 million in funding from the federal government, allowing the mortgage-assistance program to help prevent foreclosure for more homeowners struggling with financial hardships.
The U.S. Department of the Treasury announced the additional funding Wednesday, the second phase of additional funding approved for the Hardest Hit Fund program during the past two months.
The combined $383.3 million will allow the state-managed program to help at least 12,000 more homeowners. Qualifying homeowners can receive up to $100,000 in mortgage payment assistance from Keep Your Home California.
With the additional funding, Keep Your Home California will now continue to Dec. 31, 2020, or until the money is used, whichever comes first. The previous deadline for the program was December 31, 2017.