JPMorgan, Citi Extend Mortgage Relief for LA Wildfire Victims
Homes destroyed by the Eaton Fire in Altadena, California in January 2025.
Photographer: Kyle Grillot/BloombergCalifornia Governor Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes.
Wells Fargo & Co., JPMorgan Chase & Co., U.S. Bancorp and Citigroup Inc. will streamline requests for an additional 90-day forbearance period, allowing borrowers to apply verbally without paperwork, Newsom said on a press release Tuesday. Bank of America Corp. announced in November that it will offer qualifying borrowers up to two additional years of forbearance.