California Gov. 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.
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