Since January 7, the Eaton and Palisades fires have destroyed or damaged more than 12,000 structures in the Los Angeles metropolitan areahence Thousands of residents had to evacuate their homes and a large number lost their properties due to the fire.
As the days go by, still with their minds focused on their choices in the future, many residents They have doubts about their homes and payments they would have to makeespecially related to rents and mortgages.
Does a resident have to pay their mortgage if their home was consumed by flames in the wildfires in Los Angeles?
According to the Federal National Mortgage Association, known as Fannie Mae, homeowners typically have right to reduced or suspended mortgage payments for up to 12 months in the event they are affected by a disaster.
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During the reduction or temporary suspension of payment, Owners will not incur late payment feesforeclosures or other legal proceedings.
If you find yourself in this situation, it is recommended that homeowners Contact your mortgage providers to establish a tolerance plan.
The association said that after the forbearance plan, homeowners have different options to not having to settle late payments in a single lump sum. You should consider the disaster payment extension and the flexible modification offered by Fannie Mae.
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Do I have to pay property taxes if the house was affected by the Los Angeles fires?
The owners can be Eligible for Disaster Tax Relief through the Los Angeles County Tax Assessor’s Office.
The tax relief program for misfortunes and calamities defers payment of current year’s property taxes without the owners incurring fines. For information on how to apply, you can check this link.
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To learn more about the tax relief program and the different options that are available, check this link.
Should rent be paid if a house, apartment or business was destroyed by fire?
No, according to the Los Angeles County Department of Business and Consumer Affairs.
In the event that a rental unit has been destroyed by a disaster, the rental contract is voidaccording to California law.
Keep reading: The fight continues to contain the Palisades Fire
“You are no longer obligated to pay rent and the landlord is no longer obligated to provide the housing. Landlord must return prepaid rent and refund security deposit in accordance with California law,” the department explains on its website.
Do I have to pay rent if the unit was partially destroyed by the Los Angeles fires?
For renters, you have two options when it comes to rental units partially destroyed and unlivableaccording to the Los Angeles County Department of Business and Consumer Affairs.
- The tenant can terminate the rental agreement and look for a new place to live.
- Remain in the rental unit, but the landlord is responsible for repairs to ensure the unit is habitable. Tenant may move back in once repairs are complete.
Do I have to pay rent if the unit suffered minor fire damage?
Yes, according to the Department of Business and Consumer Affairs.
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The owner must make repairs quickly after you make an urgent repair request. If repairs are not completed quickly, contact the department for more information
Can the rent increase even if the area where one lives was not affected by the fires?
State of emergency declared in Los Angeles County due to wildfires, which means the California law against price gouging.
“This law limits rent increases to no more than 10% above pre-emergency levels after an emergency is declared,” says the California Apartment Association on their website.
Keep reading: New wildfire breaks out in Los Angeles County
“It applies so much to existing tenants and new rental contracts and restricts price increases of essential goods and services,” he added.
Rental limit expires February 6unless officials extend it.
The rental limit against price speculation also applies to AirBnB and VRBOaccording to the California Attorney General’s Office.
Keep reading:
· Relatives of victims who died in the California fires tell their stories
· Alert extended for strong winds in Southern California
· Newsom signs order to speed up fire debris removal