California mortgage assistance and foreclosure help.
Mortgage assistance is available from a number of non-profits and government programs in California. In addition to that, foreclosure help is available in all areas of the state to homeowners that have no other options available to them. The programs are provided in all cities and counties, including the Los Angeles region and San Diego region.
Not only can homeowners find help for their housing needs, but many of the agencies can refer people to other non-profit or government run mortgage assistance programs that are available in California. Everything from loans to repayment plans can help homeowners with paying other bills.
Information on California Hardest Hit Fund
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 in these cases the federal government can help them transition out of their homes. Read more on the California Hardest Hit mortgage program.
Housing Education Program
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. It is for people in the northern part of the state. It combines budgeting with debt or principal reduction plans and other aid. Read more on mortgage counselors.
California foreclosure prevention for seniors
A 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. Any lender or bank that tried to take advantage of the elderly will be dealt with. 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 on foreclosure prevention for the elderly in California.
CalHFA Hardship Line
They only offer free advice and help to people with a California Housing Finance Agency home loan. Assistance is given to families pro-actively and their is also help provided when a borrower has missed a mortgage payment. All government, state, and non-profit hardship programs are assessed. Call 800.669.1079 for information.
California implements a 90 day mortgage foreclosure moratorium
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 on California foreclosure moratorium.
Even though the housing market has improved, the 90 day California foreclosure moratorium rules are still in place in most parts of the state. Or there may be other local laws that have replaced it. It is always recommended to ask a non-profit HUD counseling agency about this regulation.
Los Angeles area foreclosure assistance programs
Several non-profits, HUD agencies, and other organizations in the greater Los Angeles County region provide homeowners with free or low cost foreclosure prevention solutions. Families can get free advice and assistance with their mortgage payments. This also covers nearby counties, such as the valley and far reaches of the county. Learn more on the Los Angeles mortgage assistance programs available to borrowers.
San Diego California foreclosure and mortgage assistance programs
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 prevent 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 from a professional. 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. Find foreclosure clinics in San Diego.
Fannie Mae Los Angeles help center
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. There will be other locations available as well to borrowers that are struggling to keep up with their home loan payments. The goal is to provide mortgage relief and solutions to a foreclosure. Read more on Los Angeles Fannie Mae offices and programs.
Housing counseling agencies
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 to help in applying for HARP or government programs. Clients can also get information on mortgage assistance and delinquency programs. Find a listing of California free HUD counseling agencies.
Unemployed and underemployed mortgage assistance
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. It is a way to get foreclosure help in an emergency. Learn more on California Keep Your Home.
California Law SB1137 - foreclosure assistance law
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 in California. 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.
Seminars, workshops, and clinics
Residents across California have access to free foreclosure prevention clinics and workshops. Homeowners will be able to meet with lenders, banks, and mortgage servicers. An independent mediator will also be involved to ensure everyone is treated fairly. A number of topics are addressed in these sessions.
Individuals can also learn about how the foreclosure process works in California. The sessions cover 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 on California foreclosure clinics.