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Federal officials extend foreclosure moratorium for many homes affected by the recent LA-area wildfires
An aerial view shows homes destroyed in the Palisades Fire.
(
Mario Tama
/
Getty Images
)
Topline:
The U.S. Department of Housing and Urban Development announced Thursday it is extending a foreclosure moratorium for many single-family-home mortgages in the areas affected by the recent devastating Southern California wildfires.
What does this mean: Mortgage servicers cannot begin or end foreclosures on single-family home mortgages insured by the Federal Housing Administration or Home Equity Conversion mortgages until July 7. Collectively, the Palisades and Eaton fires destroyed or damaged roughly 11,000 homes.
Other resources:
- If you are unable to pay your mortgage, call your mortgage servicer or contact an FHA Resource Center at (800) 877-8339.
- Borrowers and renters can also connect with a HUD-certified housing counselor for help finding housing or disaster relief by calling (800) 569-4287.
- Homeowners whose homes have been damaged or destroyed can contact an FHA-approved lender to learn more about FHA’s Section 203(h) loan program, which can help cover 100% of costs for rebuilding or buying a new home.
- People interested in buying a damaged home can contact an FHA-approved lender to learn about FHA’s Section 203(k) loan program.
Go deeper: Are you a homeowner affected by the LA fires? Here are some of your options
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