If you have missed mortgage payments, whether you realize it or not, you may already be in the foreclosure process. We are here to help you understand the process and to provide help.
Contact NHS for free help to protect your home today.
(213) 381-2862 or (888) 895-2NHS or email:
What is Foreclosure?
Foreclosure is a legal process in which the bank sells your property to satisfy your home loan debt. The process takes a minimum of 231 days from the time you stop making payments.
Here’s how the process breaks down:
Step 1: 60-90 days elapsed
Borrower becomes delinquent due to non-payment.
Step 2: 120 days elapsed
Lender sends a “Notice of Intent” that declares the borrower to be in default. It states the amount due, and gives the borrower 30 days to correct the delinquency.
Step 3: 210 days elapsed
If the lender does not receive payment within 30 days after filing the “Notice of Intent,” the lender may file a “Notice of Default.” This recorded document is public record which must be in place for 90 days.
Step 4: 231 days elapsed
If the 90 day “Notice of Default” period passes without the borrower and lender working out a resolution, then the lender can publish a “Notice of Sale.” The public notice must appear for 20 days. The property can be sold on the 21st day.
NHS and partner agencies formed the Los Angeles County NeighborWorks® Center for Foreclosure Solutions (CFS) to help families keep their homes.
NeighborWorks®America sponsors a Foreclosure Prevention hotline (888) 995-4673, educates homeowners about loan modification scams, and helps file complaints for families that believe they have been victims of loan modification fraud.
We provide professional services
The LA County NeighborWorks® Center for Foreclosure Solutions is comprised of organizations and groups striving to find solutions to the growing problem of foreclosures. Our network of professionals helps families who face losing their homes by providing the following services:
Foreclosure Prevention Education
– NHS holds Foreclosure Prevention Clinics
and partners with other organizations to conduct Foreclosure Prevention Fairs for families to learn about the foreclosure process and the help available to them.
Asssesment and Counseling
- Counselors from HUD certified housing agencies assess each family’s mortgage situation without judgment and assist them in identifying, implementing the right strategy, while providing ongoing support.
Legal Representation - Public interest attorney groups partner with us to assist families who have been the victims of predatory or real estate fraud.
Affordable Loan Products
- Mortgage lenders and financial institutions partner with us to assist families who are seeking affordable refinancing, loan modification or forbearance agreements.
Real Estate Services - Local real estate professionals partner with us to assist families who are seeking an appraisal or a short sale.
Relocation Assistance - Apartment owners associations partner with us to assist families that have gone through a foreclosure and are in need of housing. We help families find, qualify and transition into rental properties.
Did you know? Over 60% of delinquent homeowners are not aware of the services that mortgage lenders can offer a person behind in their mortgage.
Bet Tzedek , The House of Justice
California Department of Transportation
California Bank & Trust
California Department of Financial Institutions
California Department of Real Estate
California Housing Finance Agency
California Reinvestment Coalition
Center for Responsible Lending
City National Bank
East Los Angeles Community Corporation
East Los Angeles Regional Center
Fair Housing Council of San Fernando Valley
Faith Based Organizations
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve Bank of San Francisco
First American Foundation
Los Angeles Housing Department
Mizuho Corporate Bank of California
Neighborhood Housing Services of Los Angeles County
Neighborworks ® America
Northern Trust Bank
Office of Real Estate Appraisers
Office of the Controller of the Currency
Office of Thrift Supervision
Pacific Coast Regional
Springboard Counseling Services
United Way of Greater Los Angeles
U.S. Dept of Housing and Urban Development (HUD)
Watts Century Latino Organization
Wells Fargo/Wachovia Bank
West Angeles Community Development Corporation