Owning a home is part of the American Dream and Mayor Villaraigosa has worked to protect and preserve our homes and neighborhoods.
He launched the Neighborhood Stabilization Program to address the foreclosure crisis, and expanded workforce housing, protecting affordability agreements that were set to expire.
Mayor Villaraigosa also established long-term covenants to preserve affordable housing units Downtown and educate Angelenos about their rights and responsibilities as landlords and tenants.
Mayor Villaraigosa has actively responded to the foreclosure crisis by working to increase access to foreclosure prevention resources.
Mortgage modifications
Mayor Villaraigosa spearheaded a new ordinance to increase rights of Angeleno homeowners regarding mortgage modifications. The law makes it illegal for mortgage modification consultants to charge an upfront fee, gives homeowners the right to a contract and the right to cancel a contract, and gives homeowners the right to sue if they become victims of a loan modification scam.
Protect yourself with these loan modification resources:
HOPE for Homeowners -- (800) CALL-FHA or (800) 225-5342
Making Home Affordable
Los Angeles Foreclosure Response Network
The Los Angeles Foreclosure Response Network brings foreclosure prevention resources and clinics to the following six strategically located WorkSource Centers: South LA, Watts, Van Nuys, Sun Valley/Pacoima, Baldwin Hills, and Metro North.
Facing Foreclosure? These resources can help:
HUD Approved Housing Counselors in Los Angeles
Los Angeles Neighborhood Housing Services
NeighborWorks America
Report Foreclosure Rescue Scams here:
LA County Department of Consumer Affairs
Federal Trade Commision --
State Attorney General
Legal Aid Foundation
Neighborhood Legal Services
Bet Tzedek
Public Counsel
Foreclosure Resources Are Now Available at These WorkSource Centers
West Adams – Baldwin Hills WorkSource Center
5681 W. Jefforson Blvd., Los Angeles, CA 90016
(323) 525-3740
TTY: (323) 931-9067
www.laul.orgMetro North WorkSource Center
342 San Fernando Rd., Los Angeles, CA 90031
(323) 539-2000
TTY: (323) 539-2057
www.goodwillsocal.orgSoutheast LA – Watts WorkSource Center
10950 S. Central Ave., Los Angeles, CA 90059
(323) 563-4702
TTY: (323) 563-5684
www.wlac.orgVan Nuys – North Sherman Oaks
15400 Sherman Way, Suite 140, Van Nuys, CA 91406
(818) 781-2522
TTY: (818) 374-7024
www.worksourcecalifornia.comSun Valley WorkSource Center
9024 Laurel Canyon Blvd., Sun Valley, CA 91352
(818) 504-0334
TTY: (818) 504-1974
www.wscalnetwork.orgSouth LA WorkSource Center
7518 S. Vermont Ave., Los Angeles, CA 90044
(323) 752-2115
TTY: (323) 752-9215
www.cciworksource.org
The Neighborhood Council Foreclosure Action Network
The City, working with the Neighborhood Councils, will publicize foreclosure hotlines and foreclosure counseling fairs to stakeholders in the communities hardest hit by the foreclosure crisis. Neighborhood Councils will be encouraged to form neighborhood stabilization teams to monitor their communities for vacant and blighted homes and to notify the City of such properties.
The Neighborhood Stabilization Program is one of the main tools we currently have to fill homes left vacant because of foreclosure. The City of Los Angeles received $32.8 million from the Housing and Economic Recovery Act to fund this program. In Los Angeles, the program will:
Focus on providing assistance to first-time homebuyers to acquire and rehab a previously foreclosed home and acquiring and rehabbing multifamily rental propertiesTarget areas with the greatest percentage of foreclosures; the highest percentage of mortgages financed with subprime loans; and at greatest risk for a significant increase in foreclosures.
In this first round of the program, the City is estimated to help 300-400 households.
To find out how you can take part in the program, LA Housing Department website.