Governor Newsom signs law to provide fire survivors with stronger mortgage relief
LOS ANGELES — As part of the state’s continued efforts to support Los Angeles firestorm survivors, Governor Newsom signed into law Assembly Bill 238 (Harabedian and Irwin), which requires lenders to help borrowers experiencing financial hardship due to the Los Angeles firestorms by offering mortgage forbearance for up to 12 months.
This legislation expands on the January agreement the state reached with mortgage lenders to offer forbearance for firestorm survivors for at least 90 days, with many lenders voluntarily offering forbearance for up to 12 months. This bill deepens homeowner protections by expanding relief and creating enforceable legal requirements.
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