The sudden rush of the increase in household expenditure is one of the many pains faced by fire victims in the County of Los Angeles.
Consider a new report showing up to 3,200 owners in the districts delighted by fires are struggling to make their mortgage payments. Remember that owners of mortgaged houses must make loan payments even if the accommodation has disappeared or unlivable.
To follow a measure of the financial benefits of FireTorm in January, the ICE mortgage data company compared the payment stories of loans with the cards of the communities marked by fire. Eaton palisades and fires have destroyed or damaged more than 12,000 structures.
In the fire zone of the Palisades around the Pacific Palisades, Ice noted that the number of owners who have made mortgage in a timely manner dropped from 23.9% from December to February. Payments in a timely manner also decreased by 5.3% in areas near the fire zone.
In the fire Eaton around Altadena, the mortgage payments in a timely manner dropped by 16.7% during the same period. The owners’ payments near this fire dropped by 1.5%.
These invoice problems contrast strongly with a scheme of borrowers more made by mortgage payments in time. At the national level, the crowd of payment increased by 0.9% between February and December. Payments in a timely state level increased by 0.2%.
However, there is a help available for fire victims who find it difficult to stay up to date with a mortgage.
Home insurance policies generally offer cash victims for subsistence costs that can be applied to loan payments. Mortgage companies, financial regulators and the State also provide assistance to borrowers in difficulty.
Various mortgage help efforts for fire victims, including Crébuché offers and foreclosure moratories, have been announced. For example, the state has advanced a mortgage program of $ 125 million for the victims of natural disasters.
Jonathan Lansner is the business columnist for Southern California News Group. It can be attached to jlansner@scng.com
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