What you need to know: Governor Newsom today announced that the state has worked with five major lenders to provide mortgage relief to their customers who are LA firestorm victims. The lenders have committed to offering up to a 90-day grace period on mortgage payments, 90-day waiver of late fees, and 60- to 90-day moratorium on new foreclosures for property owners whose structures were damaged or destroyed by the LA firestorms.

LOS ANGELES - Governor Gavin Newsom today announced that five major financial institutions will offer mortgage relief for property owners in designated fire areas as a result of the devastation in Los Angeles and Ventura Counties. These institutions have committed to offer their customers who are impacted homeowners a 90-day forbearance of their mortgage payments, without reporting these payments to credit reporting agencies, and the opportunity for additional relief.

“After so much trauma, we hope this deal will provide thousands of survivors a measure of relief. These financial protections will enable residents to concentrate on taking care of their immediate needs rather than worrying about paying their mortgage bills. I thank each of the financial institutions that are offering this help for Californians recovering from this catastrophic firestorm.” - Governor Gavin Newsom

The commitments were made by the following banks: Bank of America, Citi, JPMorgan Chase, U.S. Bank, and Wells Fargo. Governor Newsom’s Administration is also engaging with other financial institutions, and collaborating with external stakeholders, such as the California Bankers Association, the California Credit Union League, and the California Mortgage Bankers Association, which have expressed their support for these relief efforts. Additionally, the Department of Financial Protection and Innovation is surveying state-chartered financial institutions to confirm additional commitments in the coming days.

As part of today’s announcement, these financial institutions will offer their qualified borrowers:

• 90-day mortgage payment forbearance periods, streamlined processes for requesting initial relief without submitting forms or documents, payment options that do not require immediate repayment of unpaid amounts (i.e., no balloon payments) at the end of the forbearance period, and the opportunity for additional relief.
• Relief from mortgage-related late fees accruing during the forbearance period for 90 days.
• Protection from new foreclosures or evictions for at least 60 days.
• Institutions will not report late payments of forborne amounts to credit agencies

The relief is available to qualified residents who are customers of these institutions in Los Angeles County in the following ZIP codes: 90019, 90041, 90049, 90066, 90265, 90272, 90290, 90402, 91001, 91104, 91106, 91107, or 93536.

Borrowers must contact their mortgage servicer to obtain relief.

A copy of the commitments can be found here.

Supporting recovery, protecting survivors 

Governor Newsom has issued a number of executive orders in response to the Los Angeles fire storms to help aid in rebuilding and recovery, create more temporary housing, and protect survivors from exploitation and price gouging:

• Providing tax relief to those impacted by the fires. California postponed the individual tax filing deadline to October 15 for Los Angeles County taxpayers. Additionally, the state extended the January 31, 2025, sales and use tax filing deadline for Los Angeles County taxpayers until April 30 - providing critical tax relief for businesses. 
• Rebuilding Los Angeles faster and stronger. Governor Newsom issued an executive order to streamline the rebuilding of homes and businesses destroyed - suspending permitting and review requirements under the California Environmental Quality Act (CEQA) and the California Coastal Act.
• Fast-tracking temporary housing. To help provide necessary shelter for those immediately impacted by the firestorms, the Governor issued an executive order to make it easier to streamline construction of accessory dwelling units, allow for more temporary trailers and other housing, and suspend fees for mobile home parks.  
• Mobilizing debris removal and cleanup. With an eye toward recovery, the Governor directed fast action on debris removal work and mitigating the potential for mudslides and flooding in areas burned. He also signed an executive order to allow expert federal hazmat crews to start cleaning up properties as a key step in getting people back to their properties safely.
• Safeguarding survivors from price gouging. Governor Newsom expanded restrictions to protect survivors from illegal price hikes on rent, hotel and motel costs, and building materials or construction. Report violations to the Office of the Attorney General here.
• Directing immediate state relief. The Governor is proposing California provide at least $2.5 billion in additional funding for ongoing emergency response efforts and to jumpstart recovery efforts for Los Angeles. 
• Getting kids back in the classroom. Governor Newsom signed an executive order to quickly assist displaced students in the Los Angeles area and bolster schools affected by the firestorms.
• Protecting victims from real estate speculators. The Governor issued an executive order to protect firestorm victims from predatory land speculators making aggressive and unsolicited cash offers to purchase victims’property. 

Get help today

Californians can go to CA.gov/LAfires – a hub for information and resources from state, local and federal government.

Individuals and business owners who sustained losses from wildfires in Los Angeles County can apply for disaster assistance:

• Online at DisasterAssistance.gov
• By calling 800-621-3362
• By using the FEMA smartphone application
• Assistance is available in over 40 languages
• If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service.