Free Foreclosure Prevention Services Available for Property Owners Facing Financial Hardships Due to COVID-19 Pandemic; Los Angeles County Disaster Help Center Provides Property Owners with Assistance in Avoiding Foreclosures
Today, with the support of the Los Angeles County Board of Supervisors, the Department of Consumer and Business Affairs (DCBA) announces the launch of enhanced foreclosure prevention services for property owners and landlords with 15 or fewer units in Los Angeles County as part of the Los Angeles County Disaster Help Center. Free one-on-one counseling and support is available for property owners who have been adversely affected by the ongoing Coronavirus/COVID-19 emergency.
Whether their loan is owned by the government, a national or state charter bank, or private institution, property owners facing COVID-19 hardships may be eligible for temporary relief. The Disaster Help Center has a dedicated team of multilingual foreclosure counselors available to assist L.A. County property owners from potentially losing their properties. Our counselors can help property owners work with their lenders, who might offer:
- Forbearance plans to temporarily reduce or delay payments
- Repayment plans for missed payments
- Loan modifications to reduce payments, interest or extend the loan term
- Short sales to sell the home for less than you owe
- Programs unique to lenders
Some lenders may be limited in initiating foreclosures during the declared COVID-19 health emergency.
Counselors can also assist with filing complaints for violations of various city, state, county, and federal moratoriums.
“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 DCBA. “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. We applaud the Board of Supervisors for their leadership in protecting all property owners during this very difficult period.”
Since 1976, the County of Los Angeles Department of Consumer and Business Affairs (DCBA) has served consumers, businesses, and communities through education, advocacy, and complaint resolution. We work every day to educate consumers and small business owners about their rights and responsibilities, mediate disputes, investigate consumer fraud complaints, and enforce Los Angeles County’s minimum wage and rent stabilization ordinances. For more information, visit dcba.lacounty.gov.