Webinars and Resources for Property Owners

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Free Webinars: Help for Homeowners

Help for Homeowners free webinarsThis free Help for Homeowners series of webinars, hosted by the Los Angeles County Department of Consumer and Business Affairs’ Foreclosure Prevention Unit and other subject-matter experts, will provide L.A. County homeowners with the information and resources they need to manage through this difficult time.

Upcoming Help for Homeowners webinars:

TBA
Previously recorded webinar presentations:
Liquidation Options

Watch all previous Help for Homeowners webinars on DCBA’s Youtube page, including:

Frequently Asked Questions

For Property Owners Impacted by COVID-19

Are there any mortgage assistance programs that could help pay my mortgage?

On September 15, 2020, the Board of Supervisors passed a motion to reallocate $5.5 million dollars to expand foreclosure prevention counseling services in the County and to establish a mortgage relief fund. The Department of Consumer and Business Affairs has partnered with Neighborhood Housing Services of Los Angeles County (NHSLA) and its network of counselors to provide foreclosure prevention counseling services to property owners of Los Angeles County. Furthermore, eligible property owners may qualify for up to $30,000 to pay for missed mortgage payments.

Property owners and landlords of 2-4 units may contact NHS at (888) 895-2647, or visit nhslacounty.org/mortgagereliefprogram/ to apply for assistance. To be considered for the mortgage relief fund, you must meet the following criteria;

  • Property must be owner occupied
  • Located in the 1st, 2nd, or 3rd District in the County of Los Angeles, except the City of Los Angeles
  • Demonstrate a COVID-19 related hardship
  • County property owners of one (1) unit with 80% Area Median Income or below with a loan balance up to $726,525;
  • County property owners of 2-4 units with 150% Area Median Income with a loan balance of up to $1,000,000.00

Unfortunately, properties located in the City of Los Angeles are ineligible for mortgage relief assistance and owners may inquire about relief through the City’s Emergency Renters Assistance Program at (866) 557-7368 or visit hcidla.lacity.org, or California’s COVID-19 Rent Relief Program at (833) 430-2122 or visit housingiskey.com.

The California Housing Finance Agency (CalHFA) will administer The California Mortgage Relief Fund under the American Rescue Plan. This was established to mitigate financial hardships after January 21, 2020, associated with the coronavirus pandemic by providing funds to eligible property owners.

Eligible applicants must;

  • Have faced a pandemic-related financial hardship between January 21, 2020, and December 27, 2021;
  • Be at or below 100% of their county’s Area Median Income;
  • Own a single-family home, condo or permanently affixed manufactured home.

They must also meet at least one of the following qualifications:

  • Receiving public assistance;
  • Be Severely Housing Burdened;
  • Have no alternative mortgage workout options through their mortgage servicer.

What relief are lenders offering property owners impacted by COVID-19?

Property owners impacted by COVID-19 may be eligible for assistance. Whether your loan is owned by the government, a national or state charter bank, or private institution, you may be able to reduce or delay payments.

Please contact the Department of Consumer and Business Affairs (DCBA) Foreclosure Prevention Unit at (800) 593-8222, to assist you with inquiring about your eligibility or other foreclosure avoidance options.

Will I be charged a late fee?

Depending on the assistance provided by your lender, late fees may be waived during the agreement period.

Will my credit be impacted for not making payments?

Depending on the assistance provided by your lender, negative reporting to the credit bureaus may be suspended for the duration of the agreement period.

What if I am denied a forbearance?

A forbearance is an agreement to temporarily reduce or delay payments for a specified period of time. If a lender denies a request for forbearance, they are required to provide a detailed explanation within 21-days of the denial, including ways to remedy the request. If a revised request is provided to the lender, the lender has 5-days to either approve or deny the request.

What happens at the conclusion of the forbearance agreement?

Lenders are required to discuss information with borrowers concerning post forbearance loss mitigation options. The lender will be required to review individual borrowers based on guidance put out by the Federal Government. Please contact the Department of Consumer and Business Affairs (DCBA) Foreclosure Prevention Unit at (800) 593-8222, to assist you with inquiring about your options.

Will the foreclosure moratorium be extended?

The foreclosure moratorium previously in place, which had prevented certain lenders from the initiating or completing foreclosure proceedings, has not been extended past the sunset date of July 31, 2021.  While certain borrowers may still qualify for a forbearance, it is important to speak with a trustworthy source of information. If you or someone you know is experiencing an issue with paying your mortgage, please contact the Department of Consumer and Business Affairs (DCBA) Foreclosure Prevention Unit at (800) 593-8222, to assist you with inquiring about your eligibility.

What is considered a COVID-19 hardship?

A COVID-19 hardship could be; a reduction or loss of income due to reduced hours, layoffs, or substantial decrease in business income caused by any local, state, or federal government response to COVID-19, or if you or someone you are caring for is being treated for the disease.

My property is currently in foreclosure, am I eligible for assistance?

Lenders are required to review individual borrowers based on guidance released by the Federal Government. Please contact the Department of Consumer and Business Affairs (DCBA) Foreclosure Prevention Unit at (800) 593-8222, to assist you with inquiring about your options.

I’m a landlord and my tenant’s inability to pay rent has created a financial hardship for me. Can you help me?

The State of California launched the California COVID-19 Rent Relief program to help eligible renters and landlords with past due and future rent payments. To learn if you qualify for assistance, please contact California’s COVID-19 Rent Relief Program at (833) 430-2122 or visit https://housingiskey.com.

To learn if you qualify for a forbearance or other loss mitigation option, please contact the Department of Consumer and Business Affairs (DCBA) Foreclosure Prevention Unit at (800) 593-8222 or by email at homehelp@dcba.lacounty.gov.

Updated March 16, 2022
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