Mortgage assistance from a number of non-profits and government programs as well as foreclosure help is available in all areas of California, including the Los Angeles region and San Diego. Not only can homeowners find help for their housing needs, but many of the agencies can refer people to other assistance programs that are available in California that can help with paying other bills.
Federal government funds are being provided to California as part of the hardest hit fund. There will be four main components of the program. Three of them were created to help keep homeowners in their homes by offering a solution to their current loan payment. The last component of the fund is intended to help homeowners who owe more money on their mortgage than their home is worth, and the federal government can help them transition out of their homes. Read more.
The Housing Education Program, which is a division of Consumer Credit Counseling Service of San Francisco, is a HUD approved mortgage and housing counseling agency. Read more on mortgage counselors.
A new statewide program in California was created to help senior citizens deal with foreclosure and predatory lenders. These individuals can often be the most vulnerable to those forms of financing. The program was created to save the homes of an increasing number of senior citizens who are faced with losing their primary residence to a foreclosure. Click here to learn more.
Over the last several years, the state of California has created a law that provides borrowers with a 90-day moratorium on home foreclosures. It provides time for all parties to find a reasonable solution. More.
While the law was signed in early 2009, the 90 day California foreclosure moratorium rules are still in place in most parts of the state. It is always recommended to ask a non-profit HUD counseling agency about this regulation.
Several non-profits, HUD agencies, and other organizations in the greater Los Angeles area provide homeowners with free or low cost foreclosure prevention solutions, advice, and assistance. This also covers nearby counties, such as the valley and far reaches of the county. Learn more on the programs available to borrowers.
Numerous organizations throughout San Diego California also offer homeowners access to programs and resources that can help them avoid a foreclosure. The advice provided is generally offered to them for free. Click here for more details on ways to avoid a foreclosure in the San Diego region.
San Diego also has national lenders, such as JP Morgan Chase, operating mortgage help centers across the county. These locations will provide struggling homeowners with free foreclosure counseling and access to programs that can help them catch up on or get back on track with their home loan payments. Find information on San Diego JP Morgan help centers.
Anyone who is behind on their home loan or who has received a foreclosure notice can also attend a free clinic. Every month there are a number of seminars, counseling sessions and workshops held across San Diego County that are open to anyone who needs advice and support. Most of these sessions also allow homeowners to meet individually with a housing counselor for one on one advice. The clinics are free to local residents. Read more.
Fannie Mae is opening a mortgage help center in Culver City to serve Los Angeles County homeowners. They are partnering with local non-profits, housing counselors, and other agencies in the region. If the site is not convenient, then referrals may be offered. The goal is to provide mortgage relief and solutions to a foreclosure. Read more.
Dozens of non-profit HUD approved counseling agencies provide California homeowners with access to foreclosure assistance. The resources range from counseling as a form of prevention and clients can also get information on mortgage assistance and delinquency programs. Find a listing of California HUD counseling agencies.
A program known as Keep Your Home may be able to help homeowners in California who have lost their job, who have had a reduction in their income or hours at work, or who are facing some type of short term financial crisis and who therefore need help with their mortgage. Learn more on California Keep Your Home.
SB 1137 requires that mortgage lenders need to meet with borrowers prior to filing a notice of default. The lender needs to go over all the options that are available to avoid foreclosure. This bill requires that borrowers be giving at least 30 days after the meeting to take steps to keep their home.
There are some exceptions though. Those banks who for some reason are not able to set up a meeting with the borrower can start the foreclosure process 30 days after they have demonstrated a good faith effort to meet with and work with the homeowner.
Law SB 1137 also aims to help those communities that were hard hit by the recent wave of foreclosures. The bill requires lenders to maintain the appearance of all foreclosed properties. This will help prevent nuisance and blight. Lenders who fail to do this will be fined.
Also, the law helps tenants. The fact is that renters have been increasingly hurt by this mortgage foreclosure crisis, and now they are protected. Under this bill, lenders must notify a resident of a property facing foreclosure about the status. All tenants who reside in the properties must be given at least 60 days to vacate the apartment or home in the event of a foreclosure on the property.
Residents across California have access to free foreclosure prevention clinics and workshops. Homeowners will be able to meet with lenders, banks, and mortgage servicers. A number of topics are addressed in these sessions.
Individuals can also learn about how the foreclosure process works in California, state laws and regulations, and they can get information on all of the private and government mortgage assistance programs. There is information on some of the organizations that have held clinics in the past and their locations. More.
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