Extended Mortgage Relief Announced for Fire Survivors
SACRAMENTO – Senator Ben Allen (D-Pacific Palisades) celebrated today’s announcement that more than 160 lenders have agreed to provide an extended mortgage forbearance for survivors of the 2025 LA Fires.
“This is an important commitment to financially support Los Angeles fire survivors so they may continue focusing on a safe return home,” said Senator Allen. “In the absence of needed federal support, the State remains dedicated to finding creative financial solutions that will ease the recovery for these communities.”
Today’s announcement builds off of last year’s effort that provided a 12-month forbearance period. Qualified borrowers will now benefit from a streamlined process to receive at least one additional 90-day forbearance period. People are encouraged to request the additional forbearance by contacting their lender to provide verbal rationale – no paperwork or forms are required.
“While this is another positive development, we know more will continue to be needed,” added Allen. “The State is continuing to engage with the mortgage and banking industry for additional support, such as low-financing gap loans.”