Property owners and landlords with 15 or fewer units can access help to avoid foreclosure through the Los Angeles County Disaster Help Center, county representatives announced Tuesday.
“We recognize the COVID-19 health emergency has resulted in significant job loss and loss of income for thousands of L.A. County property owners,” said Joseph M. Nicchitta, director of the county Department of Consumer and Business Affairs. “As a result, the number of property owners seeking foreclosure avoidance will increase. Los Angeles County is rising to meet that challenge and provide property owners with some much-needed relief by offering expanded foreclosure prevention services.”
Free one-on-one counseling and support is available for property owners who have been adversely affected by the ongoing coronavirus emergency. Borrowers with loans owned by the government, a national or state charter bank or private institutions may be eligible for temporary relief.
Counselors fluent in multiple languages are available to help property owners work with lenders to:
— temporarily reduce or delay payments;
— modify loans to decrease payments, drop the interest rate or extend the length of the loan; and
— agree to a short sale to sell the home for less than you owe and settle the debt.
Some lenders have programs of their own in place and others may be restricted from initiating foreclosure proceedings during the health emergency.
Counselors can assist in filing complaints for violations of various city, state, county and federal foreclosure moratoriums.