Los Angeles County will begin accepting applications for its $5.5-million mortgage and foreclosure relief program on April 12, the Department of Consumer & Business Affairs announced earlier this week.
“Like many others, property owners have been struggling through no fault of their own,” said Los Angeles County Supervisor Janice Hahn in a prepared statement. “We designed the Mortgage Relief Program to deliver urgently needed economic relief and counseling services to more property owners across Los Angeles County.”
Aerial view of South Los AngelesWikimedia Commons
The program, according to a news release from the Department of Consumer & Business Affairs, is geared toward owners of single-family homes and multifamily buildings with four or fewer units, who may be eligible to receive grants of up to $20,000. Foreclosure prevention counseling will also be offered to applicants.
The County's grants will be aimed toward property owners in low- and moderate-income communities highly impacted by COVID-19 pandemic. Any eligible property must be owner-occupied, and must be located within Los Angeles County. However, property owners in the City of Los Angeles are excluded from the program.
The exact eligibility rules for prospective applicants are as follows:
- Residents of LA County
- Residents of LA City are ineligible
- Property must be owner occupied
- Up to 80% Area Median Income for 1-unit property owners
- Up to 150% Area Median Income for 2-4 units property owners
- Counseling with HUD-approved counselor from partner agency required
Breakdown of Los Angeles County area median income by households sizeLos Angeles County
Los Angeles County Neighborhood Housing Services, which is tasked with administering the program, will make payments directly to lenders and servicers.
Property owners can apply for the program starting Monday, April 12 by calling (888) 895-2647 or visiting nhslacounty.org/mortgagereliefprogram.
More information on foreclosure prevention is available at dcba.lacounty.gov/foreclosure-prevention.
