LA County Offers Mortgage Relief Program to Help Property Owners – NBC Los Angeles – About Your Online Magazine


If you have delayed your mortgage, or are one of the homeowners who did not receive assistance from tenants during the pandemic, you can benefit from the Foreclosure Prevention and Mortgage Relief Program, a subsidy for families who are at risk of losing their home. home, or rental unit owners who are late in their payments in LA County.

One of the most serious economic impacts of the pandemic is foreclosure, as thousands of families may be left homeless and owners of leased units may lose their investment.

To avoid this, the Los Angeles County Board of Supervisors, through the Department of Consumer and Business Services and the Economic Recovery Center, created the Foreclosure Prevention and Mortgage Relief program.

“The program is part of the measures the county is taking to provide relief to local landowners, it is a $ 5 million investment in the county’s net costs that advance our effort to prevent another crisis where thousands have lost their homes,” said Rafael Carbajal , Director of the Los Angeles County Department of Business and Consumer Services.

LA Unified is opening vaccination centers to take students back to the classroom. Reports by Kathy Vara on Wednesday, April 7, 2021.

The program excludes the city of Los Angeles because it has its own assistance program.

The people who qualify for this program are property owners who experienced financial difficulties between March 1 and December 31, 2020, as a result of the emergence of COVID-19, said Carbajal.

To apply, “owners need to live in one of the units and cannot have more than four units,” he added.

Successful applicants can receive up to $ 20,000 to help with late mortgage payments.

Americans’ mortgage debt hit a record high of nearly $ 10 trillion during the pandemic, according to the Federal Reserve Bank of New York. To help explain, NBCLX spoke to chief economist at the Association of Realtors, Lawrence Yun, and Danielle Hale, chief economist at Realtors.com, who shared advice for home buyers for the first time.

“You don’t have to be ashamed to ask for help, we are here to help you. Typically, families of color have less resources to avoid losing their homes and properties. This program will save the lives of many who are about to lose their homes, ”said Carbajal.

Starting on Monday, April 12, you can request mortgage relief by calling (888) 895-2647.

Interested parties can also get more information and advice in a series of informational workshops that take place this week. For more information visit nhslacounty.org/mortgagereliefprogram.



Paula Fonseca