VCCDC update for Dec. 23

December 23, 2017
By
December 2017
The end of the year is always a special time when we gather at home with family and reflect on the joys and blessings that the year has brought us. Here at VCCDC one of our greatest accomplishments for 2017 is having assisted more than 125 families in achieving the dream of homeownership and over 60 existing homeowners in saving their homes from foreclosure. We have facilitated over $11 million in first mortgages and nearly $300,000 in down payment assistance. In addition we empowered over 1,300 individuals through our homeownership and financial education and counseling services.
Our new homeowners get to enjoy the holidays in their very own home. As we think about the great joy that these families are experiencing we can’t help but feel a heaviness in our hearts for the hundreds of families who lost their home due to the Thomas Fire and won’t be able to spend the holidays in the place they once called “home”. These families will need the community’s support not only for the holidays but for many years to come. Although the recovery process is filled with many unknowns, VCCDC plans to play a role in it with the help of partners like the Federal Reserve Bank of San Francisco and the City and County of Ventura. We will keep you updated on our efforts. For now, our staff will continue to volunteer at the Local Assistance Center in Ventura to provide resources and information on housing for those in need. We will continue to provide free financial management counseling for those who need guidance with their finances during this time of crisis and uncertainty. VCCDC is also an approved counseling agency for the federally funded program, Keep Your Home California, designed to help low and moderate income homeowners retain their homes if they have suffered a financial hardship. Through this program we were able to help Maria, a single mother of 4, stay in her home after she lost her job at Vista Del Mar Hospital which was destroyed during the Thomas Fire. You can read Maria’s full story below. If you know of a homeowner who has suffered a job loss due to the Thomas Fire and is in need of assistance with their mortgage please pass on this information to them.
Although these last few weeks have been filled with painful images of destruction it has also been filled with acts of kindness and selflessness. From the acts of heroism by our first responders to the outpouring of donations and volunteer hours by our fellow community members, it has been inspiring to witness. Through this tragedy our community has embodied the meaning of the holiday season, compassion and love for those around us who are most in need.
From our VCCDC family to yours, we wish you a happy holiday season. Thank you for your support in 2017! We look forward to working with you in the New Year and beyond.
Warm regards,
Bertha M. Garcia
Executive Director
VCCDC
From House to Home Client Highlight
Maria stared at the TV screen in disbelief seeing the Vista Del Mar Hospital building, where she had worked for the past 7 years, devoured by flames from the Thomas Fire, “I just couldn’t believe it. My heart dropped and I was immediately worried about the patients and staff there.” After finding out that all the patients and staff had evacuated in the early morning hours and were safe a second wave of emotions hit her when realizing she, a single mother of 4, would no longer have a job, “I started thinking how am I going to pay for my house? Where are my kids going to go? I have to start packing. It was a feeling of impending doom.”
Community Matters Partner Highlight
The work of VCCDC is made possible by organizations and charitable foundations who appreciate our work and want to see it continue. We are very grateful to our grantors for this funding. Their support is critical in helping us continue our mission of empowering families and individuals through education and homeownership.
Thank you to the Comerica Bank Charitable Foundation for awarding VCCDC a $4,000 grant to support our Changing Lives through Homeownership Education & Counseling Program!
We join you in celebrating your 20th anniversary
and look forward to working with you!
Upcoming Events
Make 2018 the Year You Become a HOMEOWNER!
Start your path to homeownership by attending our workshop:
  • High quality curriculum delivered by Certified Homeownership Specialists in a no-pressure, questions-welcomed setting
  • Course is approved by the U.S. Department of Housing & Urban Development (HUD)
  • Up to date information on credit, budgeting, down payment assistance programs, 1st-time homebuyer loan programs, escrow & title, and more!
  • Information from industry experts in the fields of insurance, mortgage lending, and real estate
  • Homebuyer Education Certificate – required for most down payment assistance programs and some loan programs (given upon request)
  • Plus free lunch! (who doesn’t love free food?!)
All of this at NO COST to you – value of over $100!
Upcoming Workshops
Under a federal law not widely known to consumers, the State of California must seek repayment from the estates of certain Medi-Cal members after they die. If you are a homeowner receiving Medi-Cal benefits you won’t want to miss our upcoming Medi-Cal Estate Recovery Program workshop!
You’ll learn about:
  • What the Medi-Cal Estate Recovery Program is
  • Who is subject to Estate Recovery and who isn’t
  • How does Estate Recovery work
  • What protections are available and to whom
  • New law passed in 2017 regarding Estate Recovery
  • How Medicare beneficiaries are affected
News & Announcements
The VCCDC office will be closed Monday, December 25th through Monday, January 1st. We will resume normal business hours (9am – 6pm) on Tuesday, January 2nd.
If you are a homeowner going through a financial hardship you may be eligible for up to $100,000 in mortgage assistance with the Keep Your Home California (KYHC) Program.
Overview of Programs:
Unemployment Mortgage Assistance (UMA) Program
The UMA Program provides mortgage payment assistance to eligible homeowners who have experienced an involuntary job loss and are receiving California EDD unemployment benefits. Benefits can last up to 18 months and/or up to $54,000 of assistance.
Mortgage Reinstatement Program (MRAP)
The MRAP Program provides assistance to eligible homeowners who, because of a financial hardship, have fallen behind on their payments and need help to reinstate their past due first mortgage loan. Up to $54,000 in assistance principal, interest, taxes and insurance, as well as any homeowner’s association dues.
Principal Reduction Program (PRP)
The PRP Program provides assistance to eligible homeowners who owe more on their mortgage than their home is worth and/or have an unaffordable payment. Homeowners must have experienced an economic hardship or a severe decline in their home’s value in order to be considered. Up to $100,000 in assistance.
Transitional Assistance Program (TAP)
The TAP Program provides one-time funds to help eligible homeowners relocate into a new housing situation after executing a short sale or deed-in-lieu of foreclosure program. Up to $5,000 in transition assistance per household.
Contact us to schedule an appointment for KYHC eligibility:
805-273-7800
Or send us an appointment request below
Our Mission:
“To strengthen and sustain vibrant communities by empowering and enabling low-to-moderate income individuals and families to build wealth through education and homeownership with a primary focus on serving low-to-moderate income clients”.
VCCDC
2231 Sturgis Road, Suite A
Oxnard, CA 93030
Monday – Friday
9:00am to 6:00pm
Phone:(805) 273-7800
Fax: (805) 604-1359
All loans subject to approval. Certain conditions & fees apply. This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state, or local law or regulation. Rates, terms, fees, products, programs and equity requirements are subject to change without notice. For qualified borrowers only. Down payment assistance available for eligible first time homebuyers, not all applicants will qualify for all sources of down payment. This is not intended as a solicitation if you are currently working with another brokerage. VCCDC is a mortgage broker licensed with the California Dept. of Real Estate #01521885; NMLS #347041

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