PAYOFF REQUIREMENTS


HOP Payoff Requirements

A request for a Payoff Demand must be faxed to the Housing Development and Preservation Division, Attn: Administration Unit at (323) 890-9715.  Upon our receipt of the request we will fax a list of conditions to the requestor to include the following, but not limited to:

• Current property appraisal 
• Preliminary Title Report
• Certified current estimated escrow closing statement 
• Authorization to release information and request from borrower(s) for payoff.  Please include social security numbers for all borrower(s).

If the homeowner(s) is refinancing only, a letter must be written to the Community Development Commission (CDC) County of Los Angeles stating that they will be paying off the CDC loan and will remain living in the property.  This letter to be signed by homeowner(s).

We will process your request within (10) ten business days from the receipt of all of the above item(s).

If you are selling your home, we need a copy of your final closing statement at the time of your purchase.  Please refer to your Note regarding Equity Shared Appreciation percentage plus the original loan amount due CDC.

Eligibility Requirements
Down Payment Assistance
Homebuyer Education Seminar
Home Ownership Programs
First-Time Homebuyers
Housing Preservation