Payment Relief | LA Fires Mortgage Payment Advice | Part 3

After a major fire, payment relief can be a lifeline. Courtney Thompson underscores the value of forbearance, which pauses or reduces your mortgage payments while you sort out insurance claims. This can buy you time to handle immediate needs—like finding temporary housing or repairing damage—without worrying about an upcoming mortgage bill. But remember, forbearance is temporary; you’ll eventually have to resume full payments and possibly repay the missed amounts. Don’t just rely on guesswork—call your servicer to learn what you qualify for. When you report a total loss, many lenders, especially those handling federally backed loans, offer extended forbearance programs. Companies are coordinating flexible options due to the widespread destruction, so don’t panic about strict deadlines. Communicate openly before the month ends to avoid hiccups. Meanwhile, let your insurance company know your home was lost, and keep your policy number handy. They’ll explain the next steps for filing a claim. For extra guidance, the California Department of Insurance has posted wildfire-specific resources at insurance.ca.gov. In the end, consistent communication, diligent record-keeping, and a clear understanding of your relief options can smooth the path to recovery.