Release: Sep/22/2025
Breaking News:ย
Certain Homeowners affected by the LA fires will now have more time (up to 1 year) to pay their mortgages, without penalties or interest, under a new law signed Monday by Gov. Gavin Newsom.ย
Lenders will not be allowed to charge late fees, impose higher interest rates,ย foreclose on properties, or demand lump sum payments when the forbearance period ends.ย
Fire survivors who encounter any problems with their mortgage providers can contact the Department of Financial Protection and Innovation for assistance; the agency is responsible for enforcing the new law.
Source / More info: https://www.gov.ca.gov/2025/09/22/governor-newsom-signs-law-to-provide-fire-survivors-with-stronger-mortgage-relief/
Disclosure: The posted info should be utilized as a basic guide only. ย Please consult with a licensed business professional to confirm accuracy, plus any additional steps required, tailored to your scenario. In addition, all content provided is deemed current, however, subject to change with any adjustment of organizational or governing policies.
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This Blog was posted by: Sean Aujla, MBA - #SoCal Real Estate & Finance Broker - DRE 02211565 | NMLS 2480692. ย Not affiliated with any of the companies mentioned in the post.ย
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