Recovery efforts are underway in California weeks after multiple deadly fires erupted in Los Angeles County, and Gov. Gavin Newsom announced a series of private industry agreements and executive orders meant to help residents impacted by the infernos.
Five large lending institutions—Bank of America, Citi, JPMorgan Chase, U.S. Bank, and Wells Fargo—are offering clients affected by the fires a 90-day forbearance on mortgage payments with no late fees.
The banks will not report delayed payments to credit agencies, and homeowners are protected from eviction or foreclosure for at least 60 days.
Fires burning in California have killed 28 people, burned more than 40,000 acres, and destroyed or damaged at least 12,000 structures, including thousands of homes….