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California Offers Mortgage Relief for Wildfire-Affected Homeowners

1/19/2025

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Summary

Story summary

Governor Gavin Newsom unveiled mortgage relief for homeowners impacted by Los Angeles County wildfires.
Five banks, including Bank of America and Wells Fargo, will offer a 90-day mortgage forbearance without credit reporting.
The relief package waives late fees and imposes a 60-90 day moratorium on new foreclosures.
Homeowners in designated ZIP codes can seek assistance via their mortgage servicer.
State support also includes tax relief and safeguards against predatory practices.

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Story summary

Governor Gavin Newsom unveiled mortgage relief for homeowners impacted by Los Angeles County wildfires.
Five banks, including Bank of America and Wells Fargo, will offer a 90-day mortgage forbearance without credit reporting.
The relief package waives late fees and imposes a 60-90 day moratorium on new foreclosures.
Homeowners in designated ZIP codes can seek assistance via their mortgage servicer.
State support also includes tax relief and safeguards against predatory practices.