Who is eligible for RevMAP?

General eligibility requirements for the RevMAP program include, but are not limited to:

Homeowner(s) must:

  • Occupy the home as their primary residence.
  • Meet low and moderate area income limits.
  • Have an involuntary hardship that is supported by a completed and signed Hardship Affidavit.
  • Have adequate income to sustain required property expense payments, according to participating servicer guidelines, on a go-forward basis.
  • Complete the required tax and insurance default counseling (as required by FHA servicing guidelines).

Property must:

  • Be located in California.
  • Not be abandoned, vacant, condemned, or uninhabitable.
  • Be currently subject to an FHA HECM or proprietary reverse mortgage loan serviced by a participating HUD-approved HECM servicer or a regulated financial institution.
  • Be a single family, 1-4 unit home (an attached or detached house or a condominium unit): mobile homes are eligible if they are permanently affixed to the real property that is secured by the first lien.

Mortgage must:

  • Be a reverse mortgage loan – proprietary or FHA HECM loan.
  • Have a current mortgage balance of $729,750, or less.
  • Have delinquent property expenses that have been advanced by their servicer because the homeowner was in default or recognized by their servicer as being in imminent default.

*Home equity lines of credit are not eligible for Keep Your Home California benefit consideration even if they are in first lien position.

For more information on eligibility requirements, visit the program descriptions located here.