CalHFA Loan Modification Program (CMP)

CalHFA understands that many people are dealing with financial challenges right now, and CalHFA, in partnership with our loan servicers, has a loan modification program to help qualified CalHFA borrowers with conventional loans stay in their homes.

Here's How We Can Help

Our goal is to help keep you in your home. If you are worried that you might fall behind on your payments or have already missed payments, our loan servicers will work with you to determine your eligibility for one or more of these possible solutions:

• Temporarily suspending monthly mortgage payments
• An extended term repayment schedule
• Extending the term of the loan
• Temporarily reducing the interest rate
• Possible application of federal funds for past due amounts
• Possible application of federal funds for partial principal reduction

Your Next Steps

Before you call your servicer at one of the numbers listed below, make sure you have the following documents ready:

• Hardship affidavit and Letter explaining the reason for the delinquency with supporting documentation to verify hardship. Documentation supporting hardship must not be more than 90 days old as of the date of program eligibility.
• Borrower(s) to provide a list of all personal expenditures (i.e. credit cards loans groceries, utilities, child care, insurance, gasoline, etc.).
• Last two (2) years signed federal tax returns including all schedules and k-1s, if applicable. If a borrower is self-employed, provide two (2) years signed business tax returns and YTD Profit and Loss Statement and Balance Sheet.
• Verification of income [last (2) months computer-generated pay stubs with YTD income]
• Verification of all supplemental income, if applicable
• Verification of deposit [last two (2) months bank statements]
• Current homeowners insurance declaration page

The more information you collect before you call, the quicker your loan servicer can determine your eligibility for assistance and the best possible available solution for you.

You may be asked to go through loan/credit counseling at your Loan Servicer's discretion.  To find the contact information for HUD-certified counseling agencies in your area, you should call HUD at 800-569-4287.  This information is also available on HUD’s website at: www.hud.gov.

Program Description	If you are a servicer of CalHFA loans or a counselor assisting homeowners, you can find detailed information in the Program Description.
Financial Worksheet	A completed financial worksheet will be needed prior to calling your Servicer or Counselor.
Counseling	To find a HUD-Certified counselor call 800.569.4287 or visit HUD's web site at www.hud.gov

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Servicers' Contact Information

Your application for loan modification must be processed through the servicer that currently services your loan. Please find your servicer in the list below and call them directly to find out if you qualify for the CalHFA Loan Modification Program.

Other Servicer	Phone	Web Site or Email
Bank of America	800.846.2222	Financial Difficulty
CalHFA	800.669.1079	Please call CalHFA to speak to a loan counselor.
Chase /  Washington Mutual	877.551.2736	Mortgage Help
CitiMortgage	866.272.4749	Homeowner Assistance
Countrywide	800.669.6650	Financial Assistance
Dovenmuehle	888.395.3997	Lossmitproxy@dmicorp.com (Email)
EverHome	800.669.7724	www.everhomemortgage.com/
First Mortgage	800.395.4778 (choose 1, then 3)	jsanders@firstmortgage.com (Email)
GMAC	800.799.9250	Homeowner Help
Guild Mortgage	800.365.4884	loaninfo@guildmortgage.com (Email)
Provident CU	800.632.4600 or 650.508.0300 Ext 2375	www.providentcu.org
Wells Fargo	866.234.8271	Home Assistance
Wescom CU	888.493.7266 Ext 4669

 

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