Top 5 Lenders Offering Mortgage Relief to Wildfire-Affected Residents

In a major step toward assisting homeowners affected by the recent Southern California wildfires, Governor Gavin Newsom revealed on Saturday that five of the nation’s largest financial institutions are stepping up to offer mortgage relief. The institutions involved include Bank of America, Citi, JPMorgan Chase, U.S. Bank, and Wells Fargo.

The relief efforts include a 90-day forbearance on mortgage payments, which will not be reported to credit agencies, providing a crucial financial respite for residents. “This agreement is a lifeline for thousands of wildfire survivors, giving them the breathing room needed to focus on their immediate recovery,” Newsom said in a statement. “These protections will allow them to concentrate on what matters most—taking care of themselves and their families.”

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Beyond the forbearance, the lenders are implementing a streamlined process to request relief, meaning homeowners will not have to submit additional forms or documents. The arrangement also includes flexible repayment options that don’t require full repayment at the end of the forbearance period, eliminating the pressure of paying off the mortgage all at once.

Furthermore, there will be no late fees for the missed payments during this period, and homeowners will be shielded from foreclosure or eviction for at least 60 days. Additionally, the institutions have pledged not to report any late payments to credit agencies during the forbearance period.

This relief is available for eligible homeowners who are customers of the participating institutions and reside in specific L.A. County ZIP codes, including 90019, 90041, 90049, 90066, 90265, 90272, 90290, 90402, 91001, 91104, 91106, 91107, and 93536. Homeowners who qualify must reach out to their mortgage servicer to access this assistance.

For more details, affected residents can visit the official relief website .

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Layla Hango

Layla Hango is a dedicated author at The Chieftain Spear, where she delves into stories that highlight cultural richness, social issues, and community empowerment. With a passion for storytelling that inspires and informs, Layla brings a fresh perspective to her writing. Her work resonates with readers seeking meaningful dialogue and a deeper understanding of diverse experiences. Through her articles, Layla aims to spark positive change and celebrate the strength of collective voices.

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