Governor Gavin Newsom has announced commitments from major lenders to provide mortgage relief to survivors of the devastating Los Angeles firestorms. Five major banks – Bank of America, Citi, JPMorgan Chase, U.S. Bank, and Wells Fargo – have agreed to offer 90-day mortgage payment forbearance periods, waiving late fees and moratoriums on new foreclosures.
The relief is available to homeowners in designated fire areas, including Los Angeles County ZIP codes 90019-93536. Homeowners can contact their mortgage servicer to apply for the relief program. The state’s Department of Financial Protection and Innovation will also be surveying other financial institutions to confirm additional commitments.
This move aims to provide survivors with a measure of relief as they focus on rebuilding and recovery, rather than worrying about paying mortgage bills. Governor Newsom has also issued executive orders to support recovery efforts, including tax relief, rebuilding permits, temporary housing, debris removal, price gouging protection, and more.
Source: https://www.gov.ca.gov/2025/01/18/governor-newsom-announces-commitments-from-major-lenders-to-provide-firestorm-survivors-with-mortgage-relief