Pay Off Requirements

 

Payoff Requirements

Please contact the Los Angeles County Development Authority's (LACDA) Housing Bonds & Asset Management Unit:

Lorena Ojeda
lorena.ojeda@lacda.org

Upon receipt, the LACDA will forward a list of conditions to the requestor which will include, but are 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 LACDA stating that the homeowner is paying off the LACDA loan and will remain living in the property.  This letter is signed by the homeowner(s).

We will process your request within 10 business days from the receipt of all items above.
If you are selling your home, the LACDA needs a copy of your final closing statement at the time of your purchase.  Please refer to your Note on Equity Shared Appreciation percentage plus the original loan amount due to the LACDA.