Mortgage assistance and foreclosure prevention in Los Angeles.
Homeowners in Los Angeles have several free or low cost programs available to them that can help them prevent a foreclosure. Counselors from various agencies will work with clients in an effort to offer them mortgage help. The goal is to get borrowers back on track with their home loan payments.
One of the leading non-profits in the area is Los Angeles Neighborhood Housing Services, Inc. This organization has partnered with various other local non-profits, lawyers and government agencies to offer a large number of foreclosure prevention programs to struggling homeowners in the area. Together these various agencies created, among other solutions, the Los Angeles County NeighborWorks Center for Foreclosure Solutions. Learn more about this and other solutions below.
Foreclosure prevention offered
There are several different components and solutions offered to homeowners in the Los Angeles area as part of the Center for Foreclosure Solutions. They include the following.
A network of local HUD certified housing agencies have joined together to provide free or low cost foreclosure counseling. They also offer more ongoing support to homeowners facing a foreclosure. These federal government certified HUD agencies formed a group known as the Homeownership Preservation Task Force.
The non-profit housing counselors are available to assess your mortgage situation or offer you programs that may be able to provide assistance. They will to their best to help you in getting an affordable refinance of your mortgage, loan modification from your lender or a federal government program. Other options include a forbearance agreement, short sale, or they will try to provide you with relocation assistance if it turns out your home just can’t be saved. Click here for more information on Los Angeles California HUD counselors.
Mortgage lenders, banks, various financial institutions and local real estate professionals have also partnered together with the NeighborWorks Center for Foreclosure Solutions in order to offer real solutions to homeowners who are having mortgage difficulties.
Various attorneys across the region formed a Legal Assistance Partnership. The group is comprised of local public interest attorney groups ready to assist families who need free foreclosure prevention advice. They also offer assistance to those that have been the victims of predatory lending or real estate fraud.
Foreclosure prevention clinics are organized by Los Angeles Neighborhood Housing Services, Inc. The clinics are held each week at one of the numerous Homeownership Centers that are located across the southern California region. In addition to the weekly clinics they also organize monthly foreclosure prevention fairs throughout Los Angeles County.
Both the clinics and the monthly fairs provide an effective way to serve large numbers of struggling homeowners and distressed borrowers. Many banks and lenders also attend the sessions, so the clinics and fairs offer homeowners the opportunity to meet onsite directly with their lender.
During the sessions, housing counselors from LA NHS and partner counseling agencies perform group and individual intake sessions with families. This can help them to analyze the financial situation that they are in and hopefully find a solution to their mortgage situation.
Los Angeles Neighborhood Housing Services, Inc. and the Center for Foreclosure Solutions also work closely with local and nation banks, lenders, and mortgage servicers. For example, many lenders and banks deploy special loss mitigation teams and negotiators to the fairs and weekly clinics. What this does is provide the forum for some of these institutions to provide loan modifications for homeowners on the spot. While many lenders participate, as just an example some of the financial institutions that work with organization include Wells Fargo, Washington Mutual, Chase, Wells Fargo, and Bank of America.
Borrowers can call Los Angeles Neighborhood Housing Services, Inc. at 888-895-2647 to receive free or low cost advice and to learn about any of the programs noted above.
Non-profits that provide foreclosure prevention in Los Angeles
Here is a partial listing of other non-profit organizations that offer mortgage help and free or low cost foreclosure assistance. Some or all of these organizations also work with the Los Angeles County NeighborWorks Center for Foreclosure Solutions as well as the Los Angeles Neighborhood Housing Services, Inc.
- Asian Pacific American Legal Center, Los Angeles California. (213) 977-7500 x237
- East Los Angeles Community Corporation, Los Angeles CA. Phone 323-269-4214 ext. 237
- Fair Housing of the San Fernando Valley, Panorama City. 818-373-1185
- Legal Aid Foundation of Los Angeles. (323) 801-7957
- Public Counsel Law Center, Los Angeles California. (213) 385-2977 x108