Free Webinars: Help for Homeowners
This 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:
Hipotecas Inversas (Reverse Mortgages), presentation en español
New webinars every other Wednesday
Previously recorded webinar presentations:
Understanding Foreclosure and Eviction Moratoria
Watch all previous Help for Homeowners webinars on DCBA’s Youtube page, including:
- Refinancing During a Pandemic: Full webinar slides
- Refinancing During a Pandemic (en español): Full webinar slides
- Rules Regarding Accessory Dwelling Units: Full webinar slides
- Avoiding Scams Involving Contractors: Full webinar slides
- Avoiding Property Tax Scams: Full webinar slides
- Avoiding Scams for First-time Home buyers: Full webinar slides
- Foreclosure Avoidance Options: Full webinar slides
- Foreclosure Avoidance Options (en español): Full webinar slides
- Understanding the California Foreclosure Process: Full webinar slides
- Understanding the California Foreclosure Process (en español): Full webinar slides
- Avoiding Foreclosure Rescue Scams: Full webinar slides
- Avoiding Foreclosure Rescue Scams (en español): Full webinar slides
- Understanding Foreclosure and Eviction Moratoria: Full webinar slides
- Lien Priority and Foreclosure Protections: Full webinar slides
- Lien Priority and Foreclosure Protections (en español): Full webinar slides
- Reverse Mortgages During a Pandemic: Full webinar slides
- Reverse Mortgages During a Pandemic (en español): Full webinar slides
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 $20,000 to pay for missed mortgage payments.
Beginning April 12, 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 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.
What relief are lenders offering property owners impacted by COVID-19?
Property owners impacted by COVID-19 may be eligible for temporary relief. The federal, state, and local governments announced several protections. Whether your loan is owned by the government, a national or state charter bank, or private institution, you may be eligible to reduce or delay payments for up to 18-months. This type of arrangement is called a Forbearance Plan/Agreement.
Furthermore, lenders may be limited in initiating foreclosures during the State of Emergency related to COVID-19. Please contact the Los Angeles County Disaster Help Center at (833) 238-4450, 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?
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 Los Angeles County Disaster Help Center at (833) 238-4450, to assist you with inquiring about your options.
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, are there any protections for me?
If your property was in foreclosure prior to the pandemic/protection orders, you still may be protected. Some property owners may be eligible to have their foreclosure suspended until June 30, 2021. Property owners who have a Fannie Mae, Freddie Mac, or FHA insured loan, may be eligible for a 6-month forbearance, with the possibility of an additional 12-months. Additionally, foreclosure proceedings, including initiation or completion, will be forbidden until at least June 30, 2021 (foreclosure moratorium). Please contact the Los Angeles County Disaster Help Center at (833) 238-4450, to assist you with inquiring about your eligibility.
I’m a landlord and my tenant’s inability to pay rent has created a financial hardship for me. Can you help me?
A new bill was passed in California requiring lenders to provide a forbearance plan to landlords with qualifying loans and who are experiencing financial difficulty due to a tenant’s inability to pay rent. To learn if you qualify for a forbearance or other loss mitigation option, please contact the Los Angeles County Disaster Help Center at (833) 238-4450 or by email at email@example.com.
For assistance with your lender, please contact the Help Center at (833) 238-4450, to assist you with inquiring about your options.