If you are impacted by the wildfires and are a homeowner in the Los Angeles area and are unsure of what to do about your mortgage, then here is a primer:
- Contact Your Loan Servicer Immediately
- Call their disaster relief hotline: If available, this is the quickest way to connect with a specialist.
- Use their regular customer service line: If a dedicated hotline doesn’t exist.
- Explain your situation: Clearly state that your home is in a wildfire-impacted area.
- Inquire about assistance programs: Ask about potential relief options like:
- Temporary payment pause or a “freeze”
- Late fee waivers
- Suspended negative credit reporting
- Postponement of foreclosure proceedings
- Loan term modifications
- Document Everything:
- Keep a record of all communications: Note the date, time, representative’s name, and a summary of the discussion.
- Gather Supporting Documentation:
- Photos of damage: Document the extent of the destruction.
- Insurance claims documentation: Include claim numbers, dates, and communication records.
- FEMA disaster assistance applications and responses: Keep copies of all relevant documents.
- Local authority declarations: Obtain documentation of evacuation orders or fire impact.
- Proof of income and financial situation: Gather recent pay stubs, bank statements, and other relevant financial documents.
- File Insurance Claims Promptly:
- Work with your homeowner’s insurance company: File claims promptly and obtain documentation of their status.
- Most homeowner insurance companies will have a dedicated team to support those in need – ask your carrier to see if this is available
- Explore Additional Assistance Sources:
- FEMA disaster assistance: Apply for federal aid to help cover expenses not covered by insurance.
- State disaster relief programs: Investigate state-specific programs that may offer assistance.
- Contact your local elected representatives, such as your congresspeople or city council members, along with senators that represent your district, and notify them of your circumstances