ALTADENA, Calif. — U.S. Housing and Urban Development Secretary Scott Turner announced Thursday that the Trump administration has extended a moratorium on foreclosures on Los Angeles fire victims for another 90 days.
Turner appeared with director Kathryn Burger from Los Angeles County District 5 at an event outside of Altadena's popular Fairrokesburger, in the heart of the community.
He praised the resilience of the Altadena and Palisade communities, and spoke about the importance of faith, including his own faith in Christ, as a source of inspiration when he rises to challenge difficult circumstances.
Foreclosure moratoriums apply to loans insured by the Federal Housing Administration (FHA).
At a press conference, HUD explained:
FHA Insurance's Single Family Mortgage Expansion highlights HUD's commitment to supporting Americans affected by natural disasters by providing flexibility to families in the major disaster area (PDMDA) declared president.
Los Angeles County PDMDA has over 100,000 FHA insurance mortgages. HUD works with mortgage servicers and others to assess the extent of FHA insurance mortgage assets in designated areas that have been severely damaged or destroyed.
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moratorium Mortgage servicers are prohibited from starting or completing foreclosure lawsuits on FHA Insurance Single Family Forward or Home Equity Conversion mortgages in Los Angeles County PDMDA until July 7, 2025.
Several private lenders, including banks, also provide tolerance for homeowners affected by the fire, without having to make payments during that time and do not report negatively to credit agencies. However, in most cases, you will need to pay in full for the amount you are due during the period when your tolerance ends.
Supervisor Berger said a local “land bank” would be set up to help Altadena residents rebuild, allowing the nature of the area, particularly the historic black community, to be preserved.
Turner also visited Palisades in the Pacific on Wednesday night to talk to residents about their concerns and talk about HUD.
Joel B. Pollack is a senior editor at Breitbart News; Breitbart News Sunday Sirius XM Patriot will be available Sundays from 7pm to 10pm (4pm to 7pm). He is the author of Agenda: What Trump Should Do in His First 100 Daysyou can pre-order on Amazon. He is also the author Trump's Virtue: Lessons and Legacy of President Donald TrumpIt is now available on Audible. He is the winner of the 2018 Robert Novak Journalism Alumni Fellowship. Follow him on Twitter @joelpollak.
